Insights for Saudi Arabia

MoM insights: For the month-on-month analysis, the total trade value for exports reached 115.23 billion SAR, reflecting a significant increase of 16.15 billion SAR, which corresponds to a 16.3% rise. This indicates a robust growth in export activities, likely influenced by recent agreements with Türkiye that may have opened new markets or enhanced existing trade routes. In contrast, imports totaled 57.78 billion SAR, showing a decline of 18.34 billion SAR, or a 24.1% decrease. This drop in imports could be attributed to the recent ban on Lebanese fruits and vegetables, which may have disrupted supply chains and reduced overall import volumes. The highest increases in exports were seen in sectors such as oil and petrochemicals, while the largest declines in imports were noted in agricultural products, particularly fruits and vegetables.

YoY insights: In the year-on-year analysis, exports also showed a strong performance with a total value of 115.23 billion SAR, marking an increase of 21.45 billion SAR, which is a 22.9% rise compared to the previous year. This growth can be linked to the ongoing diversification of Saudi Arabia's economy and increased global demand for its products. On the other hand, imports totaled 57.78 billion SAR, reflecting a decrease of 16.2 billion SAR, or 21.9% lower than the previous year. This decline may be a result of the same import restrictions and a shift towards local production. The top three highest increases in exports were in the oil sector, machinery, and chemicals, while the top three declines in imports were in food products, machinery, and textiles.