The total value of non-oil exports reached approximately 28.8 billion Saudi Riyals (around $7.7 billion), up from 24.2 billion Riyals in July 2023. The growth was particularly driven by robust demand for chemical products, which constituted about 25.8% of total non-oil exports, witnessing a slight 1.3% increase. Plastic and rubber products also played a crucial role, making up 25.6% of the exports and rising by 6.5% over the same period .
Compared to June 2024, non-oil exports rose by 6.5%, and the Kingdom's imports also grew by 8.8%. This brought the trade deficit down by 1.8% compared to the previous month, illustrating a gradual stabilization in the trade balance. Notably, the ratio of non-oil exports to imports increased to 33.7%, up from 31.9% in the same month of the previous year .
China remains Saudi Arabia's largest trading partner, absorbing 13.9% of its total exports. Other significant markets include South Korea and Japan, which accounted for 10.3% and 9.9% of the exports, respectively. The top ten export destinations collectively represented 68.1% of total merchandise exports.
On the import side, machinery and electrical equipment formed the bulk of incoming goods, constituting 26.5% of total imports and increasing by an impressive 34.2% year-on-year. China also dominated the import sector, accounting for 25.4% of total imports, followed by the United States at 7.2% and Germany at 5.1% .
Several Saudi ports facilitated this trade, with King Abdulaziz Sea Port in Dammam handling 30.3% of all imports, followed closely by Jeddah Islamic Sea Port and King Khalid International Airport. Collectively, these key transportation hubs managed 75.6% of the Kingdom’s total imports, showcasing the importance of robust infrastructure in supporting trade.