KSA's non-oil exports surge 32.3pc in Oct

RIYADH, Dec 25 (Arab News): Saudi Arabia's non-oil exports, including re-exports, rose 32.3 per cent year on year in October to reach SR33.88 billion ($9.03 billion), according to official data.

Preliminary figures released by the General Authority for Statistics showed that national non-oil exports, excluding re-exports, increased by 2.4 per cent in October compared to the same period a year earlier.

The rise in non-oil exports underscores progress under Saudi Arabia's Vision 2030 program, which aims to diversify the economy by reducing reliance on crude oil revenues.

In its latest report, GASTAT stated: "The ratio of non-oil exports (including re-exports) to imports increased to 42.3 per cent in October 2025 from 33.4 per cent in October 2024. This was due to a 32.3 per cent increase in non-oil exports and a 4.3 per cent increase in imports during the same period."

It added: "The value of re-exported goods increased by 130.7 per cent during the same period, driven by a 387.5 per cent increase in transportation equipment and parts, which represented 37.4 per cent of total re-exports."

The report showed that machinery, electrical equipment, and parts led the non-oil export basket, accounting for 23.6 per cent of outbound shipments and recording an 82.5 per cent year-on-year increase.

Chemical products followed with a 19.4 per cent share of non-oil exports.

In October, Moody's said in a report that Saudi Arabia is on course to sustain annual non-oil sector growth of between 4.5 per cent and 5.5 per cent over the next five to 10 years as its Vision 2030 diversification program gathers pace.

Earlier this month, GASTAT reported that Saudi Arabia's gross domestic product expanded by 4.8 per cent in the third quarter compared to the same period in 2024, driven by growth in both oil and non-oil activities.