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Arab News
3 days ago
- Business
- Arab News
UAE, China, India among top destinations for Saudi Arabia's non-oil goods: GASTAT
RIYADH: The UAE emerged as the leading destination for Saudi Arabia's non-oil exports during the first quarter of 2025, with shipments valued at SR21.32 billion ($5.68 billion), marking a 33.91 percent increase compared to the same period last year, according to the latest data from the General Authority for Statistics. Machinery and mechanical appliances were the most exported items to the UAE, amounting to SR10.19 billion. This was followed by transport equipment worth SR5.16 billion and chemical products totaling SR1.11 billion. Plastic goods were also significant, with exports to the UAE reaching SR942 million, while precious stones and base metals recorded SR860.8 million and SR848.4 million, respectively. The increase in non-oil exports aligns with the objectives of the Kingdom's Vision 2030, which seeks to diversify the economy and reduce dependency on oil revenues. Saudi Minister of Economy and Planning Faisal Alibrahim recently noted that non-oil activities now contribute 53.2 percent to the Kingdom's gross domestic product. GASTAT also reported a 9.27 percent rise in Saudi Arabia's non-oil exports to the UAE compared to the previous quarter, further emphasizing the Kingdom's economic diversification momentum. China ranked second among Saudi Arabia's non-oil export destinations in the first quarter, receiving goods valued at SR6.51 billion — an annual increase of 17.93 percent. Major exports to the Asian country included plastic products worth SR2.58 billion, chemical products totaling SR2.32 billion, and minerals valued at SR533.4 million. India was another prominent trade partner, with non-oil exports reaching SR5.75 billion in the first quarter, up 14.08 percent from the same period in 2024. Other key export destinations included Turkiye, which received goods worth SR2.96 billion; Egypt at SR2.56 billion; and the US at SR2.48 billion. Singapore imported SR2.28 billion worth of goods from Saudi Arabia, while Bahrain received SR2.21 billion, Belgium SR2.11 billion, and Kuwait SR1.97 billion. Overall, Saudi Arabia's non-oil exports rose by 13.4 percent year on year in the first quarter, totaling SR80.72 billion. Key ports played a vital role in this trade activity. King Fahad Industrial Sea Port in Jubail handled the highest volume of outbound non-oil goods, valued at SR9.93 billion. Jeddah Islamic Sea Port followed closely with SR9.76 billion, while Jubail Sea Port and King Abdulaziz Sea Port in Dammam facilitated exports worth SR7.17 billion and SR6.69 billion, respectively. On land, Al-Batha Port processed SR5.53 billion in exports. Al-Hadithah and Al-Wadiah ports recorded export values of SR2.10 billion and SR1.43 billion, respectively. Among airports, King Khalid International Airport in Riyadh led with SR8.52 billion worth of non-oil goods exported in the first quarter, an increase of 12.84 percent compared to the previous year. King Abdulaziz International Airport followed with SR6.16 billion, while King Fahad International Airport in Dammam and Prince Mohammad bin Abdulaziz International Airport in Madinah recorded SR741.8 million and SR4.2 million, respectively. Merchandise exports Despite growth in the non-oil sector, overall merchandise exports declined by 3.2 percent year on year in the first quarter, falling to SR285.78 billion. GASTAT attributed this drop to an 8.4 percent decline in oil exports, which caused the share of oil in total exports to decrease from 75.9 percent in the first quarter of 2024 to 71.8 percent in the same period this year. Asia remained the largest market for Saudi exports, accounting for SR213.14 billion. Europe followed at SR34.51 billion, with Africa and the Americas receiving SR23.19 billion and SR13.80 billion, respectively. China was the top destination for overall merchandise exports, receiving SR44.91 billion worth of goods — an increase of 3.26 percent compared to the first quarter of 2024. India received SR28.04 billion in goods, followed by Japan with SR26.48 billion, South Korea at SR25.03 billion, and the UAE at SR24.85 billion. Imports in Q1 Saudi Arabia's imports also grew during the first quarter, rising by 7.3 percent year on year to SR222.73 billion. Machinery, mechanical and electrical equipment led imports, totaling SR57.40 billion, followed by transport parts at SR32.56 billion and base metals at SR21.30 billion. Chemical imports stood at SR19.60 billion, while minerals accounted for SR12.12 billion. Goods imported from Asia were valued at SR128.50 billion, while imports from Europe and the Americas reached SR52.94 billion and SR27.01 billion, respectively. African nations contributed SR12.53 billion in imports, and goods from Oceania were valued at SR1.73 billion. China remained Saudi Arabia's largest source of imports, sending goods worth SR59.33 billion. These included mechanical appliances and electrical equipment valued at SR23.93 billion, transport parts worth SR9.50 billion, base metals at SR6.43 billion, and even works of art and antiques amounting to SR3.19 billion. The US followed with SR17.58 billion in exports to the Kingdom, while India's exports totaled SR12.27 billion. Sea routes were the dominant entry channels for imports, accounting for SR113.11 billion. Air and land ports handled SR61.63 billion and SR25.99 billion, respectively. King Abdulaziz Sea Port in Dammam was the leading sea entry point with SR59.97 billion in imports. Jeddah Islamic Sea Port and Ras Tanura port followed with SR47.78 billion and SR8.73 billion. Over land, Al-Batha Port and Riyadh Dry Port managed goods worth SR10.78 billion and SR8.29 billion, respectively. By air, King Khalid International Airport in Riyadh received imports valued at SR29.96 billion in the first quarter. King Abdulaziz International Airport and King Fahad International Airport handled SR18.60 billion and SR12.39 billion, respectively. Reflecting continued expansion of the non-oil economy, Saudi Arabia recorded a Purchasing Managers' Index of 55.6 in April, according to S&P Global and Riyad Bank. This score surpassed those of the UAE at 54 and Kuwait at 54.2, indicating robust growth in non-oil business activity. A PMI reading above 50 signals economic expansion, while a figure below 50 suggests contraction.
Arab News
3 days ago
- Business
- Arab News
Saudi EXIM Bank targets African markets with 4 new MoUs
RIYADH: Saudi Arabia is accelerating the expansion of its non-oil exports into African markets, with the Saudi Export-Import Bank securing four new strategic agreements to strengthen trade and investment ties across the continent. Saudi Export-Import Bank CEO Saad bin Abdulaziz Al-Khalb signed memoranda of understanding with Africa50, the Ghana Export-Import Bank, Blend International Limited, and Guinea's Ministry of Planning and International Cooperation, the Saudi Press Agency reported. The deals were finalized on the sidelines of the African Development Bank Group's annual meetings, held in Côte d'Ivoire from May 26 to 30. The newly signed deals come as Saudi exports to Africa surged 20.6 percent year on year to SR7.84 billion ($2.09 billion) in March 2025, reflecting growing trade ties between the Kingdom and the continent. Al-Khalb said the bank's participation in the meetings aims to deepen international trade relations and forge partnerships that support Saudi non-oil export growth in African markets. The SPA report added: 'He stated that the memoranda of understanding are an extension of the bank's efforts to promote trade exchange, stimulate development projects, and enable local exporters to export their services and products to African markets through effective and extended partnerships, contributing to supporting sustainable development goals and enhancing economic integration.' He also described the gathering as a valuable opportunity to boost economic cooperation and engage with officials from export credit agencies and financial institutions across African countries. The agreements were signed by Saudi EXIM CEO Saad bin Abdulaziz Al-Khalb, along with Alain Ebobisse, CEO of Africa50; Sylvester Mensah, CEO of the Ghana Export-Import Bank; Ravi Gupta, managing director of Blend International Limited; and Ismail Nabeh, minister of planning and international cooperation of Guinea. The MoU with Africa50 is aimed at enhancing cooperation in infrastructure projects by partnering with Saudi companies. The agreement with the Ghana Export-Import Bank will focus on exploring cooperation opportunities and enhancing bilateral exports of services and products. Meanwhile, the MoU with Blend International Limited is aimed at targeting broader trade opportunities and international partnerships. The deal with Guinea's Ministry of Planning and International Cooperation seeks to bolster development projects and investment in priority sectors, enabling Saudi exports of engineering services and industrial supplies. Also, on the sidelines of the event, Al-Khalb and his delegation held in-depth discussions with leaders of several international financial institutions, focusing on expanding trade ties and boosting the flow of Saudi non-oil exports into African markets.
Zawya
5 days ago
- Business
- Zawya
Bahrain non-oil exports rise 22% to $896mln in April
The total value of Bahrain's non-oil exports (national origin) increased by 22% to BD338 million ($896.59 million) during April 2025, compared to BD277 million for same month in 2024. The value of Bahrain's non-oil imports increased by 20% reaching BD575 million in April 2025 in comparison with BD481 million for same month in 2024. The top 10 countries for imports recorded 68% of the total value of imports, said Information & eGovernment Authority's (iGA) April 2025 Foreign Trade report. According to the report, China ranked first for imports to Bahrain, with a total of BD64 million (11%), followed by Australia with BD55 million (10%) and the UAE with BD49 million (9%). Non-agglomerated iron ores and concentrates recorded as the top product imported to Bahrain with a total value of BD67 million (12%), followed by other aluminum oxide with BD51 million (9%) and jewellery of gold being the third with BD36 million (6%). EXPORTS The top 10 countries in exports (National Origin) accounted for 71% of the exports (National Origin) value. Saudi Arabia ranked first among countries for then non-oil exports (National Origin) with BD81 million (24%). The US was second with BD35 million (10%) and UAE was third with BD32 million (9%). Unwrought aluminum alloys recorded as the top products exported in April 2025 with BD105 million (31%), followed by agglomerated iron ores and concentrates alloyed with a value of BD54 million (16%) and aluminum wire not alloyed with BD18 million (5%). The total value of non-oil re-exports decreased by 9% to reach BD71 million during April 2025, compared to BD78 million for same month in 2024. The top 10 countries in re-exports accounted for 86% of the re-exported value. The UAE ranked first with BD30 million (42%) followed by Saudi Arabia with BD18 million (25%) and Luxemburg with BD5 million (7%). As per the report, turbo-jets was the top product re-exported from Bahrain with a value of BD7.2 million (10.1%), followed by four-wheel drive BD7 million (9.9%), and gold ingots came third with BD6 million (8%). As for the trade balance, which represents the difference between exports and imports, Bahrain recorded a deficit of BD166 million in April 2025 compared to a deficit of BD126 million in April 2024. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
5 days ago
- Business
- Trade Arabia
Bahrain non-oil exports rise 22% to $896m in April
The total value of Bahrain's non-oil exports (national origin) increased by 22% to BD338 million ($896.59 million) during April 2025, compared to BD277 million for same month in 2024. The value of Bahrain's non-oil imports increased by 20% reaching BD575 million in April 2025 in comparison with BD481 million for same month in 2024. The top 10 countries for imports recorded 68% of the total value of imports, said Information & eGovernment Authority's (iGA) April 2025 Foreign Trade report. According to the report, China ranked first for imports to Bahrain, with a total of BD64 million (11%), followed by Australia with BD55 million (10%) and the UAE with BD49 million (9%). Non-agglomerated iron ores and concentrates recorded as the top product imported to Bahrain with a total value of BD67 million (12%), followed by other aluminum oxide with BD51 million (9%) and jewellery of gold being the third with BD36 million (6%). EXPORTS The top 10 countries in exports (National Origin) accounted for 71% of the exports (National Origin) value. Saudi Arabia ranked first among countries for then non-oil exports (National Origin) with BD81 million (24%). The US was second with BD35 million (10%) and UAE was third with BD32 million (9%). Unwrought aluminum alloys recorded as the top products exported in April 2025 with BD105 million (31%), followed by agglomerated iron ores and concentrates alloyed with a value of BD54 million (16%) and aluminum wire not alloyed with BD18 million (5%). The total value of non-oil re-exports decreased by 9% to reach BD71 million during April 2025, compared to BD78 million for same month in 2024. The top 10 countries in re-exports accounted for 86% of the re-exported value. The UAE ranked first with BD30 million (42%) followed by Saudi Arabia with BD18 million (25%) and Luxemburg with BD5 million (7%). As per the report, turbo-jets was the top product re-exported from Bahrain with a value of BD7.2 million (10.1%), followed by four-wheel drive BD7 million (9.9%), and gold ingots came third with BD6 million (8%). As for the trade balance, which represents the difference between exports and imports, Bahrain recorded a deficit of BD166 million in April 2025 compared to a deficit of BD126 million in April 2024. - TradeArabia News Service
Zawya
6 days ago
- Business
- Zawya
Saudi Arabia's non-oil exports rise 10.7% in March
RIYADH — Data released by Saudi Arabia's General Authority for Statistics (GASTAT) showed that the country's non-oil exports, including re-exports, increased by 10.7% to approximately SR27.04 billion in March 2025, compared to a year earlier While non-oil national exports excluding re-exports rose by 6.7% to SR18.6 billion, the value of re-exported goods rose by 21% during the same period. Commodity exports declined by 9.8% in March 2025 to SR93.78 billion, compared to March 2024, due to a 16.1% decline in petroleum exports to SR 66.74 billion. The share of oil exports in total exports decreased from 76.5% in March 2024 to 71.2% in March 2025. Imports increased by 0.1% to SR73.99 billion in March 2025. Looking at the merchandise trade balance, the surplus decreased by 34.2% to SR19.79 billion compared to March 2024. Saudi Arabia's International Trade Bulletin for the first quarter of 2025 revealed that non-oil exports, including re-exports, increased by 13.4% to SR80.73 billion, compared to the first quarter of 2024. Non-oil national exports (excluding re-exports) also rose by 9% to SR54.12 billion, and the value of re-exported goods also rose by 23.7% to SR26.6 billion during the same period. Commodity exports decreased by 3.2% in the first quarter of 2025 to SR285.79 billion compared to the first quarter of 2024, due to an 8.4% decline in petroleum exports to SR205.06 billion. The share of oil exports in total exports decreased from 75.9% in the first quarter of 2024 to 71.8% in the first quarter of 2025. Imports increased by 7.3% in the first quarter of 2025 to SR222.74 billion. Looking at the merchandise trade balance, the surplus decreased by 28% to SR63.05 billion compared to the first quarter of 2024. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
