A noticeable recovery in Saudi foreign trade activity
In a strong indicator of the resilience of the Saudi economy and its ability to adapt to global changes, Saudi merchandise exports a significant increase of 21.5% during March 2026, compared to the same period in 2025. This positive growth was primarily driven by a substantial surge in petroleum exports, which saw a growth of 37.4%. According to official data issued by the General Authority for Statistics, petroleum exports accounted for the largest share, rising to 80.3% of total exports, compared to approximately 71% in March of the previous year.
Economic context and the impact of the Kingdom's Vision 2030
These figures come amidst the structural transformations underway in the Saudi economy as part of the Saudi Vision 2030 objectives. Despite concerted efforts to diversify income sources and reduce reliance on oil, the petroleum sector remains a fundamental pillar supporting the state's general budget, particularly during periods of increased global energy demand. High oil revenues provide the Kingdom's financial policymakers with greater flexibility to fund major development projects and infrastructure initiatives that serve non-oil sectors in the long term and contribute to sustainable economic growth.
Performance of non-oil exports and re-export activity
On the other hand, the General Authority for Statistics clarified that non-oil exports (which include re-exports) witnessed a decrease of 17.3% compared to March 2025. National non-oil exports (excluding re-exports) also declined by 27%. However, a bright spot emerged in trade activity: a 2.5% increase in the value of re-exported goods. This improvement is primarily attributed to the significant recovery in the "Machinery, Appliances, Electrical Equipment and Parts" category, which jumped by 51.1%, representing 62.4% of total re-exports. This reflects notable activity in the logistics sector and transit traffic through the Kingdom.
Record surge in trade surplus
One of the most significant positive findings of the report is the remarkable improvement in the Kingdom's trade balance. Imports decreased by 24.8% during March 2026. As a result of the balance between increased exports and decreased imports, the merchandise trade surplus achieved an exceptional surge of 218.9% compared to the same month of the previous year. This substantial surplus strengthens the Kingdom's foreign reserves and supports the stability of the local currency, reflecting efficient spending and rationalized import consumption. This has positively impacted the ratio of non-oil exports to imports, which rose to 39.3% compared to 35.8% last year.
Trading partners: Asian markets take center stage
Internationally, the data reflects the Kingdom's strategic focus on Asian markets, which represent the center of gravity for global energy demand. China maintained its position as the Kingdom's largest trading partner, accounting for 14.1% of total Saudi exports, followed by India at 13.7%, and Japan at 9.5%. Regarding imports, China also topped the list of countries exporting to the Kingdom, representing 26.7%, followed by the United States at 8.4%, and the United Arab Emirates at 7.1%, highlighting the diversity of Saudi Arabia's strategic partnerships both in the East and the West.
Customs ports and their role in enhancing logistics
Saudi Arabia’s port infrastructure plays a crucial role in facilitating trade, aligning with the National Transport and Logistics Strategy aimed at transforming the Kingdom into a global logistics hub. Jeddah Islamic Port topped the list of import entry points, handling 29.8% of total imports, followed by King Abdulaziz International Airport in Jeddah (18.9%), and King Khalid International Airport in Riyadh (16.4%). Conversely, King Abdulaziz International Airport in Jeddah led non-oil export entry points at 23.4%, followed by Jeddah Islamic Port at 21.2%, underscoring Jeddah’s strategic importance as a key gateway for the Kingdom’s international trade.
