Saudi Arabia’s merchandise trade surplus climbed to SR26.03 billion in May, or about $6.91 billion, as oil export revenue improved and imports fell sharply. The latest reading points to a stronger external trade position for the kingdom after a weaker earlier period.
The main driver was a rebound in oil exports, which continue to play the central role in Saudi Arabia’s trade performance. When crude-related shipments rise, they tend to lift total exports quickly, given the sector’s weight in the economy and in the country’s overseas sales.
At the same time, a notable drop in imports helped widen the surplus further. A lower import bill means fewer goods purchased from abroad, which can improve the gap between what the country sells overseas and what it buys from other markets.
Taken together, higher oil exports and reduced imports produced a much larger trade surplus in May. The figures underline how closely Saudi Arabia’s monthly trade balance remains tied to energy export trends and shifts in domestic demand for imported goods.
