{"id":99077,"date":"2025-07-27T00:00:00","date_gmt":"2025-07-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/27\/oil-exports-fall-to-four-year-low-in-may-non-oil-exports-marginally-down\/"},"modified":"2025-07-27T00:00:00","modified_gmt":"2025-07-27T00:00:00","slug":"oil-exports-fall-to-four-year-low-in-may-non-oil-exports-marginally-down","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/27\/oil-exports-fall-to-four-year-low-in-may-non-oil-exports-marginally-down\/","title":{"rendered":"Oil exports fall to four-year low in May, non-oil exports marginally down"},"content":{"rendered":"

Oil expor<\/strong>ts continue to dip:<\/strong> The Kingdom\u2019s oil exports dropped 21.8% y-o-y to SAR 59.3 bn in May, its lowest level since May 2021, stretching April\u2019s<\/a> downward trend, according to preliminary data from the General Authority for Statistics (pdf)<\/a>. Oil\u2019s share of total exports also dropped by 6.5 percentage points y-o-y to 65.6%.<\/p>\n

REMEMBER-<\/strong> In May, Opec+ moved forward with accelerated oil output hikes as part of a plan to gradually return 2.2 mn bbl \/ d to the market over 18 months. The resulting lower oil prices have increased the risk of wider budget deficits and higher public debt for the Kingdom. Trump\u2019s push-and-pull with trade partners that kicked off in April also didn\u2019t do any favors for clarity in global markets.<\/p>\n

While the situation was considered manageable in the short-term<\/strong>, Finance Minister Mohammed Al Jadaan said in May<\/a> that due to low oil prices and global uncertainty, the Kingdom will \u201ctake stock\u201d of spending on its large-scale Vision 2030 projects.<\/p>\n

\n

NON-OIL BREAKDOWN-<\/p>\n

Non-oil merchandise exports fell 1.8% y-o-y to some S<\/strong>AR 18.8 b<\/strong>n in May 2025<\/strong>. Total non-oil exports \u2014 including re-exports \u2014 rose 6% y-o-y, supported by a 20.5% increase in re-exports value, despite a 14% decrease in merchandise exports during the same period. Meanwhile, imports grew 7.8% to about SAR 80.9 bn, and the surplus of the merchandise trade balance was down 68.4%.<\/p>\n

Non-oil exports remained higher than imports<\/strong>, despite the ratio falling to 38.5% in May, compared to 39.1% in the same month a year ago.<\/p>\n

Machinery and electrical equipment, making up 23.7% of non-oil exports, nearly doubled<\/strong>, logging a 99.8% y-o-y increase to SAR 7.4 bn. Chemical products also inched up 0.4% y-o-y to SAR 7.1 bn.<\/p>\n

Machinery and electrical equipment were also the most sought after by importers<\/strong>, increasing 23% y-o-y to nearly SAR 24 bn, and accounting for 29.7% of total imports. Transportation equipment and parts followed with an 11.4% share, despite recording a 9.2% y-o-y decrease to around SAR 9.2 bn.<\/p>\n

China still tops the trade list:<\/strong> The Kingdom\u2019s merchandise exports to China made up 14% of our total exports in May 2025, followed by the UAE (11.2%) and India (8.9%). Meanwhile, Chinese goods accounted for 28.9% of total imports over the same period, followed by the US (7.5%) and the UAE (6.3%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil\u2019s share of total exports dropped to 65.6%<\/p>\n","protected":false},"author":1,"featured_media":99078,"comment_status":"","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":[2571],"tags":[912,2824,27,10,278],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-bank-aljazira","tag-east-pipes","tag-economy","tag-enterpriseam-ksa","tag-jamjoom-pharma","wpautop","entry"],"acf":{"mongo_id":"e9aec512-cb8d-4403-931f-f9a6d45ddae6","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1993.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Oil exports down 21.8% in May + non-oil exports down 1.8%","related_issue":[99070],"teaser":"Oil\u2019s share of total exports dropped to 65.6%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.dff9a4b0-0bc2-4525-9475-87f8a38affd6.mp3"},"yoast_head":"\nOil exports fall to four-year low in May, non-oil exports marginally down - 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