Saudi Arabia: Trade Surplus Jumps in May.

Saudi Arabia’s trade surplus surged to SAR 26.0 billion in May 2026 from SAR 6.1 billion in the same month last year, as exports rose while imports slumped. Exports grew 3.9% year-on-year to SAR 93.8 billion, mainly driven by a 19.5% rise in oil exports, which represented 75.6% of total exports. Meanwhile, non-oil exports dropped 27.5% amid a decline in shipments of electrical equipment and parts (-31.6%), which accounted for 22.0% of total non-oil exports. China remained the leading destination for Saudi exports, accounting for 12.3% of the total, followed by South Korea (9.6%) and the UAE (7.5%). Imports slumped 19.5% to SAR 67.8 billion, largely due to a sharp decline in machinery, electrical equipment, and parts (-28.0%). China also remained the largest source of imports, making up 22.0% of the total, followed by the US (10.7%) and Egypt (8.4%).