Surge in Saudi-GCC Non-Oil Trade Volume Reveals Economic Resilience
April marked a significant milestone for non-oil trade between Saudi Arabia and the Gulf Cooperation Council (GCC) countries, recording a robust .8 billion in total trade volume. This figure represents a remarkable annual growth rate of 203.2%, surging from approximately .2 billion to around SAR3.5 billion (2 million) in trade surplus alone, as reported by the Saudi Press Agency (SPA) and corroborated by data from the General Authority for Statistics (GASTAT).
A closer examination of the total non-oil trade, including re-exports, reveals an impressive growth trajectory. The overall trade volume between Saudi Arabia and its GCC partners climbed to nearly SAR18 billion, reflecting a year-on-year increase of 41.3%. This marks an additional SAR5.2 billion from the previous year’s figure of SAR12.7 billion, highlighting the upward momentum in trade activities across the region.
According to preliminary data provided by the International Trade Bulletin for April, there has been an extraordinary increase in non-oil commodity exports, which rose by 55%, totaling SAR10.7 billion. This figure stands in stark contrast to the SAR6.95 billion reported in April of the prior year, resulting in a substantial increase of over SAR3.8 billion. Such a rise is indicative not only of the growing demand for Saudi non-oil products but also of the strengthening economic ties within the region.
Furthermore, the statistics reveal insights into the national non-oil commodity segment. The value of these exports reached approximately SAR3 billion, up from SAR2.6 billion in April 2024, achieving a commendable year-on-year growth rate of 13.3%, equivalent to an increase of SAR356 million. This upward trend exemplifies the concerted efforts of Saudi Arabia to diversify its economy and reduce its dependency on oil revenues—a key aspect of Vision 2030.
Re-exports play a crucial role in this trade narrative, demonstrating a remarkable 81% surge, reaching SAR7.73 billion compared to SAR4.2 billion in the previous year, reflecting an increased volume by SAR3.45 billion. The significant growth in re-exports signals an expanding logistics and distribution network in the region, as Saudi Arabia serves as a critical trade hub within the GCC.
On the import front, Saudi Arabia’s purchases from GCC nations reached SAR7.2 billion in April 2025, rising from SAR5.8 billion a year earlier. This represents a notable year-on-year growth of 25.2%, translating into an increase of SAR1.4 billion. Such data reveals a balanced and reciprocal trading relationship between Saudi Arabia and its GCC counterparts, further emphasizing the importance of regional cooperation.
The report indicates that the United Arab Emirates (UAE) maintains its leading position in non-oil trade with Saudi Arabia, with trade volume hitting SAR13.5 billion—approximately 75.1% of the total trade. Bahrain follows as the second largest trading partner, with a trade value of SAR1.8 billion (10%), while Oman contributes SAR1.45 billion (8.1%) to the overall trade figures.
This thriving trade ecosystem among GCC nations operates against the backdrop of increasing economic collaboration aimed at fostering mutual growth and stability. The impressive figures reported for April not only highlight the resilience of the regional economy but also reflect the commitment of the GCC countries to fortify their economic ties, especially in the aftermath of global economic challenges.
Experts suggest that the ongoing expansion of non-oil trade could serve as a catalyst for further economic diversification efforts within the region. As GCC nations strive to navigate global market dynamics and reduce reliance on hydrocarbon exports, such trade surpluses afford them valuable foreign exchange and bolster domestic industries.
As the Gulf Cooperation Council continues to pursue initiatives aimed at enhancing intra-regional trade and investment, the ongoing growth seen in non-oil trade is poised to shape the economic landscape in the GCC for years to come. The strong performance of non-oil trade in April 2025 is a harbinger of broader economic resilience as these nations collectively seek to navigate a future that transcends their historical dependence on oil.
Tags:
#BusinessNews, #EconomyNews, #Saudi, #UAE, #GCC