GASTAT Reports Significant 13.4% Increase In Non-Oil Exports For Q1 2025

The General Authority for Statistics (GASTAT) has published its International Trade Statistics bulletin for March 2025 and the first quarter of the same year. The report highlights a significant increase in non-oil exports, which rose by 13.4% in Q1 2025 compared to the same period in 2024. March alone saw a 10.7% rise over March 2024, emphasising the growing role of non-oil sectors in Saudi Arabia's foreign trade.

Despite the growth in non-oil exports, total merchandise exports experienced a decline. In Q1 2025, there was a 3.2% drop compared to the previous year, with March showing a more pronounced decrease of 9.8%. On the other hand, merchandise imports increased by 7.3% in Q1 and by a slight 0.1% in March when compared to last year.

The trade balance surplus saw a reduction of 28% in Q1 and 34.2% in March. However, there was an improvement in the ratio of non-oil exports to imports, reaching 36.2% in Q1 2025 from 34.3% in Q1 2024, and rising to 36.5% in March from 33% the previous year.

Oil exports' share of total merchandise exports decreased to 71.8% in Q1 2025 from 75.9% in Q1 2024, and to 71.2% in March compared to 76.5% in March of the previous year.

Chemical products emerged as the leading non-oil export commodity, making up 23.8% of total non-oil exports in Q1 and increasing to 25.7% in March 2025. Machinery, electrical equipment, and parts were the top imported commodities, accounting for 25.8% of imports in Q1 and slightly rising to 26.1% in March.

China maintained its position as Saudi Arabia's primary trading partner for merchandise, contributing to 15.7% of total exports and receiving 26.6% of total imports during Q1 2025. In March, China's share was slightly lower at 15.5% for exports and reduced to 25.3% for imports.

Data Sources and Classification

According to GASTAT, these statistics are derived from administrative records provided by the Zakat, Tax and Customs Authority for non-oil data and from the Ministry of Energy for oil-related data. The classification of commodities follows the Harmonized Commodity Description and Coding System established in 2022.

This comprehensive report underscores both challenges and opportunities within Saudi Arabia's international trade landscape as it continues diversifying its economy beyond oil dependency.

With inputs from SPA