{"id":103411,"date":"2025-12-28T00:00:00","date_gmt":"2025-12-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=103411"},"modified":"2025-12-28T04:16:40","modified_gmt":"2025-12-28T04:16:40","slug":"oil-recovery-re-exports-boom-fuel-trade-surplus-in-october","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/12\/28\/oil-recovery-re-exports-boom-fuel-trade-surplus-in-october\/","title":{"rendered":"Oil recovery + re-exports boom fuel trade surplus in October"},"content":{"rendered":"

<\/strong>Recover<\/strong>ing oil exports and a sharp increase in re-exports maintained Saudi Arabia\u2019s trade <\/strong>surplus in October.<\/strong> The trade balance rose by 47.4% y-o-y to SAR 23.9 bn, the second-highest monthly surplus this year.<\/p>\n

The rise fueled growth in total merchandise exports<\/strong>, rising 11.8% y-o-y to SAR 104 bn during the month.<\/p>\n

!_Subhed_! Output hikes are propping up oil revenues<\/strong><\/p>\n

Oil exports hit their highest level since January at SAR 70.1 bn<\/strong>, up 4% y-o-y, according to preliminary data (pdf)<\/a> from Gastat.<\/p>\n

IN CONTEXT-<\/strong> Opec+ began rapidly unwinding voluntary output cuts this year, raising the production ceiling by some 2.5 mn bbl \/ d through October. While the hikes initially pressured oil prices, causing y-o-y declines in Saudi oil revenues, earnings began to recover in August as more of our barrels hit the market while oil prices held relatively steady.<\/p>\n

\n

Re-exports are booming<\/p>\n

Non-oil exports, including re-exports, grew at eight times the rate of oil exports in October, buoyed by re-exports jumping 131% y-o-y to SAR 13.8 bn.<\/p>\n

The main driver?<\/strong> A 387.5% increase in transportation equipment, which accounted for 37.4% of total re-exports.<\/p>\n

Our re-exports strategy is bearing fruit: <\/strong>Saudi has been pivoting from a pure import destination to a regional transshipment hub, through overhauled Special Economic Zones which offer 0% customs duty deferrals and VAT suspensions for goods that never enter the mainland. Zatca\u2019s bonded zone regs also allow non-resident merchants to warehouse and re-export goods without triggering customs duties, VAT, or the need for a local commercial license.<\/p>\n

\n

The boom is masking a slowdown in non-oil exports<\/p>\n

Excluding re-exports, non-oil exports growth slowed down to 2.4% y-o-y<\/strong>, compared with 2.8% increase in September. Subdued growth was expected due to a weak global demand environment \u2014 particularly in chemicals \u2014 rather than a slowdown in Saudi manufacturing, Argaam Investments\u2019 Ahmed Ramzy told us last month<\/a>.<\/p>\n

Machinery and electrical equipment<\/strong> topped the export list<\/strong>, comprising 23.6% of the total non-oil exports and jumping 82.5% y-o-y to just under SAR 8 bn. Chemical products followed, accounting for 19.4% of non-oil exports, despite recording a 5% y-o-y decrease to just under SAR 6.6 bn.<\/p>\n

MEANWHILE-<\/strong> Imports grew at 4.3% y-o-y, with machinery and electrical equipment leading the Kingdom\u2019s import mix at a 30% share. Transportation equipment came in second, representing 12% of total imports despite dipping 23% y-o-y.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil exports rose 4% during the month<\/p>\n","protected":false},"author":1,"featured_media":103412,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4693],"tags":[27,10,2812,4696,4692,1878],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-103411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-economy","tag-enterpriseam-ksa","tag-exports","tag-newslead","tag-the-big-story-today","tag-trade-balance","wpautop","entry"],"acf":{"mongo_id":"6211b4ea-5d8e-49d5-9c65-e84b37adf66e","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/12\/1320.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil recovery + re-exports boom fuel trade surplus in October","related_issue":[103407],"teaser":"Oil exports rose 4% during the month"},"yoast_head":"\nOil recovery + re-exports boom fuel trade surplus in October - 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