Saudi non-oil exports jump 15.1% in February 2026 as re-exports surge

Non-oil exports, including re-exports, rose 15.1% y-o-y in February, according to data (pdf) from the General Authority for Statistics. The growth was bolstered by a 28.5% rise in re-exports, with machinery and electrical equipment re-exports rising 59.9%.

The February trade data offers a pre-conflict snapshot of external sector dynamics, capturing performance just before the outbreak of the Iran war and providing a baseline to gauge the scale of any subsequent impact.

Oil and total trade: Merchandise exports increased 4.7% y-o-y, while oil exports saw a modest uptick of 0.6% during the same period. The share of oil exports within the total export portfolio decreased to 68.7%, down from 71.5% a year earlier.

The Kingdom’s merchandise trade surplus decreased slightly by 1.0% y-o-y in February 2026. Meanwhile, merchandise imports rose 6.6% y-o-y, and the ratio of non-oil exports to imports improved to 40.8%, compared to 37.8% in February 2025.

Machinery and electrical equipment emerged as the primary driver for non-oil exports in February, accounting for 25.5% of the total and marking a robust 56.1% y-o-y increase. Chemical products remained a significant contributor, representing 22.3% of non-oil exports and recording a 17.6% y-o-y growth.

On the import side, machinery and electrical equipment also held the top position, making up 30.5% of total imports and reflecting a 27.8% y-o-y increase. Transportation equipment and parts followed as the second most imported category at 11.6%, although this sector saw a 10.5% decline during the same period.