Saudi Gazette report

RIYADH — The Saudi non-oil trade balance recorded a significant surplus with Gulf Cooperation Council (GCC) countries in the second quarter of 2024, reaching SR6.776 billion, marking a remarkable 600% annual growth compared to SR1.033 billion during the same period in 2023.

This data comes from the Q2 international trade report released by the General Authority for Statistics.

Total non-oil commodity exports, including national exports and re-exports, amounted to SR24.392 billion, reflecting an annual growth of 31%, with an increase of SR5.765 billion from SR18.627 billion in Q2 2023.

Meanwhile, total commodity imports stood at SR17.616 billion, as reported by the Saudi Press Agency (SPA).

Among non-oil commodity exports, including re-exports to GCC countries, the UAE ranked first with exports valued at SR15.070 billion, accounting for approximately 61.8% of the total. Bahrain followed with exports valued at SR5.792 billion, representing 23.7% of the total.

Kuwait secured third place with SR1.823 billion (7.5%), Oman ranked fourth with SR965 million (4%), and Qatar rounded out the top five with SR741 million, representing 3% of the total non-oil exports to the GCC.