FX.co ★ Saudi Arabia Trade Surplus Narrows in January

Saudi Arabia’s trade surplus narrowed to SAR 17.3 billion in January 2026, down from SAR 21.0 billion in the same month a year earlier, as import growth outpaced exports.

Imports rose 6.5% year-on-year to SAR 81.4 billion, driven mainly by higher purchases of machinery, electrical equipment, and parts (up 23.7%), which accounted for 30.3% of total imports, as well as transportation equipment and parts (up 7.3%). China remained the Kingdom’s largest source of imports, supplying 31.0% of the total, followed by the UAE (7.7%) and the US (6.9%).

Exports increased at a more moderate 1.4% to SAR 98.7 billion, weighed down by a 6.4% decline in oil exports, which represented 67.0% of total exports. This was partly offset by a 22.1% jump in non-oil exports, supported by a sharp rise in machinery, electrical equipment, and parts (up 77.5%), which made up 24.2% of total non-oil exports. China remained the leading destination for Saudi exports, accounting for 15.1% of the total, followed by the UAE (12.9%) and India (9.8%).