Saudi trade surplus up 329% in May

Saudi Arabia's trade balance surplus recorded a record high in May, increasing by 329% to reach 26 billion Riyals, the highest level in 54 months. This was driven by a 19.5% decrease in imports to 68 billion Riyals, while exports rose by 4% to 94 billion Riyals. Machinery and electrical appliances emerged as a main non-oil export source, accounting for 22%, with China remaining Saudi Arabia’s largest trading partner—covering 12.3% of exports and 22% of imports. Jeddah Port topped the customs outlets, handling 35.7% of imports and 24.4% of non-oil exports. The significant decline in imports greatly contributed to the trade balance surplus.

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