Oil Hits 72% of Saudi Exports as Non-Oil Dips

Oil exports increased their share of Saudi Arabia's total commodity exports to 72 percent in June 2026, up from 70.4 percent a year earlier, while non-oil exports (including re-exports) declined 9.7 percent year-on-year,

For the first quarter of 2026, total commodity exports reached SAR 312.8 billion. Oil exports accounted for 72.5 percent of that total, valued at SAR 226.7 billion, a rise of 9.9 percent compared with the same period a year earlier.

Non-oil exports (excluding re-exports) came in at SAR 57.8 billion in the first quarter, down 9.1 percent year-on-year, representing 15.3 percent of total exports. Re-exports, however, showed strong growth, reaching SAR 38.3 billion, an increase of 32.9 percent.

Monthly data pointed to shifting shares through the period. In April 2026, oil exports stood at SAR 69,649 million and non-oil exports at SAR 16,064 million, with oil representing 68.8 percent of total exports and non-oil exports down 7.3 percent year-on-year. In May 2026, oil's share rose to 75.6 percent, while non-oil exports including re-exports fell 26.1 percent year-on-year.

Why it matters

The figures highlight the continued weight of oil in the trade balance and the sensitivity of non-oil exports to market conditions. The strong growth in re-exports suggests trade activity is expanding in areas beyond domestic production, an area of interest for businesses and investors tracking the Kingdom's broader economic diversification efforts.

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