Saudi oil exports fall 12.5% in August to 61.1 billion riyals

Saudi oil exports fell by 12.5% year-on-year in August 2026, reaching 61.1 billion riyals (SAR), as the Kingdom’s goods trade surplus dropped 21%, impacted by exports declining faster than imports, according to data from the General Authority for Statistics.

The figures showed the goods trade surplus narrowed to about 15.6 billion riyals in August, compared to around 19.7 billion riyals in the same month of 2025.

This decline came as total goods exports dropped 11.5% year-on-year, while imports decreased by 9.1%, reducing the gap between export and import values.

Oil’s share of total exports declines

The share of oil exports in Saudi Arabia’s total exports fell to 70% in August 2026, down from 70.8% a year earlier, reflecting a decrease in oil export values, which make up the bulk of the Kingdom’s exports.

This decline highlights the impact of oil export performance on Saudi Arabia’s foreign trade, given its significant weight in total goods exports and the effect of value changes on the trade surplus.

Monthly trade surplus rises

On a monthly basis, the goods trade surplus rose 18% in August compared to about 13.2 billion riyals in July 2026, showing improvement despite the ongoing year-on-year decline.

This monthly increase comes as goods exports continued to fall year-on-year at a faster pace than imports, affecting the overall trade surplus compared to August last year.