UAE, China top Saudi Arabia’s non-oil exports in October

Saudi Arabia’s Non-Oil Exports Surge with China and UAE Leading the Way

Saudi Arabia’s non-oil exports increased significantly in October, with China and the UAE as its largest trading partners. The expansion demonstrates the kingdom’s continued commitment to economic diversification in line with its Vision 2030 goals.

Non-oil exports from Saudi Arabia to the UAE totaled SR5.86 billion ($1.56 billion), a significant 54.2% increase over the same month a year earlier. At SR3.11 billion, mechanical and electrical equipment was one of the most valuable exports. Transport parts came in second at SR713.5 million, while chemical products came in third at SR503.8 million.

China ranked second for Saudi Arabia’s non-oil exports in October, receiving goods worth SR2.35 billion.This comprised mineral items valued at SR300.5 million, plastic and rubber goods valued at SR795.1 million, and chemical products valued at SR826.3 million. Saudi Arabia’s efforts to lessen its dependency on crude oil and develop a more diversified economy with an emphasis on non-oil industries are highlighted by the expanding export ties with both China and the United Arab Emirates.

Launched in 2016, Saudi Arabia’s Vision 2030 sought to lessen the Kingdom’s reliance on oil earnings, and the recent increase in non-oil exports demonstrates real progress. Saudi Arabia’s Minister of Economy and Planning, Faisal Al-Ibrahim, stated that the Kingdom’s non-oil industry currently contributes 52% of the real GDP and is expanding at a rate of 20% per year.

Exports have also increased, according to the Purchasing Managers’ Index (PMI), which measures the performance of the private sector.
Saudi Arabia’s PMI increased to 59.0 in November, the highest level since July, suggesting robust development in the non-oil sector.

Other important markets for Saudi Arabia’s non-oil exports include India, with SR2.11 billion in exports, and Singapore, which received SR947.5 million in goods. The United States accounted for exports worth SR829.6 million, and Belgium, Egypt, and Turkey were the main partners.

The rise in non-oil exports has been facilitated by sea, land, and air routes, with sea shipments accounting for the largest share. In October, Saudi Arabia’s maritime exports amounted to SR15.41 billion, with King Fahad Industrial Sea Port in Jubail and Jeddah Islamic Sea Port being the busiest ports.

Saudi Arabia’s import bill, which came to SR72.01 billion, decreased 3.8% year over year. Machinery and equipment, which account for 25.7% of all imports, increased 6.9% despite the overall import fall. A notable decline of 21.6% in transport-related equipment was seen in the Kingdom, indicating a change in the import priorities of the nation.

China remained the largest source of imports, providing SR17.58 billion in goods, followed by the US and the UAE. Import routes were dominated by sea, which handled over 60% of the Kingdom’s total imports, while air and land routes also played significant roles.

Saudi Arabia’s overall merchandise exports, however, showed a 10.7% decline, primarily due to a 17.3% drop in oil exports. Oil exports still account for the majority of the Kingdom’s trade, though their share has decreased from 78.3% last year to 72.6% in October, indicating a trend toward diversifying exports.

Saudi Arabia’s expansion of non-oil exports and continued investment in non-oil industries demonstrate the country’s commitment to economic diversification. According to PwC Middle East, the non-oil economy is expected to expand by 4.4% in 2025, supporting Saudi Arabia’s long-term economic strategy. The Kingdom’s economic development and sustainability are expected to be significantly influenced by non-oil exports and improved trade relations as it continues to implement Vision 2030.