Non-Oil Merchandise Exports to Gulf Countries Rise to USD 2.9 Billio

Saudi Arabia’s total merchandise exports in non-oil cargo to Gulf Cooperation Council (GCC) nations surged to SAR 10.99 billion (USD 2.9 billion) in May 2024, up from SAR 8.43 billion exactly a year prior.

According to preliminary data from the General Authority for Statistics, non-oil imports from GCC countries also rose from SAR 6.03 billion to SAR 6.24 billion. Thus, the non-oil trade balance between the Kingdom and GCC countries almost doubled to SAR 4.74 billion, from SAR 2.40 billion the previous year.

The UAE continues to be Saudi Arabia’s largest non-oil trading partner within the GCC, and non-oil exports to the Kingdom from the UAE alone grew from SAR 4.90 billion to SAR 6.07 billion. Imports from the UAE this May sit at SAR 4.54 billion, compared with SAR 3.63 billion in May 2023.