Saudi domestic non-oil exports rise 8.5% despite overall trade decline
Plastics and rubber products lead growth in non-oil shipments, though total exports fall sharply in August.
At a glance
- Domestic non-oil exports grew 8.5% year-on-year in August despite broader trade weakness
- Plastics and rubber products accounted for 22.6% of non-oil exports
- Overall merchandise exports fell 11.5%, driven by 12.5% decline in oil shipments
- UAE was top export destination; China was largest source of imports
Saudi Arabia's domestic non-oil exports increased by 8.5 percent year-on-year in August, according to the General Authority for Statistics. Plastics, rubber and related products represented the largest share of non-oil exports at 22.6 percent, rising 7.5 percent compared with the same month last year.
However, overall merchandise exports declined by 11.5 percent, driven by a 12.5 percent drop in oil exports. Total non-oil exports including re-exports fell 9.1 percent, while re-exported goods declined 34 percent. The merchandise trade surplus decreased 21 percent year-on-year. The United Arab Emirates was the largest export destination, while China was the leading source of imports.
Why it matters
The data reflects mixed economic signals, with non-oil export growth offset by declining oil revenues and re-exports, affecting the Kingdom's overall trade balance.
Original reporting
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