Saudi Arabia's non-oil trade balance with the Gulf Cooperation Council (GCC) countries recorded a surplus of 6.13 billion riyals in January 2026, reflecting a remarkable increase of 106% compared to the same period last year. These figures indicate a significant improvement in trade relations between Saudi Arabia and the Gulf countries, with the total trade volume between the two parties amounting to around 23 billion riyals.
According to data released by the General Authority for Statistics, Saudi Arabia's total non-oil merchandise exports and re-exports to the GCC countries rose to 14.5 billion riyals last January, representing an annual increase of 55%. These exports were divided between re-exports, which reached 10.9 billion riyals, and national exports that amounted to 3.64 billion riyals.
Trade Details and Insights
In contrast, Saudi merchandise imports from the GCC countries were approximately 8.4 billion riyals during January, up by 31% compared to the same period last year. This rise in imports reflects the growing demand for Gulf products in the Saudi market, thereby enhancing economic relations among member states.
The United Arab Emirates topped the list of Saudi Arabia's trading partners, with the Kingdom achieving a non-oil trade surplus of about 5.4 billion riyals with it. This surplus underscores the strength of economic relations between the two countries and promotes commercial cooperation across various sectors.
Background & Context
The trade relations between Saudi Arabia and the Gulf countries are a fundamental part of the region's economic integration strategy. Since the establishment of the Gulf Cooperation Council in 1981, member states have sought to enhance trade and economic cooperation, contributing to significant growth in intra-regional trade.
These figures come amid Saudi Arabia's efforts to bolster economic diversification and reduce dependence on oil, aligning with Vision 2030, which aims to develop new sectors and increase non-oil exports.
Impact & Consequences
These figures indicate that Saudi Arabia is moving in the right direction toward achieving its economic goals. The increase in the trade surplus reflects the success of the economic policies in place and strengthens the Kingdom's position as a commercial hub in the region.
Moreover, this growth in non-oil trade could contribute to the creation of new job opportunities and enhance investments, benefiting the Saudi economy and increasing its competitiveness on both regional and international levels.
Regional Significance
These developments are a positive indicator of the overall stability of the Gulf economy, reflecting the strength of trade links among member states. This increase in trade is expected to foster economic cooperation among other Arab countries, contributing to sustainable development in the region.
In conclusion, these figures reflect the success of Saudi economic policies and its direction toward enhancing trade relations with Gulf countries, contributing to the achievement of sustainable development goals and bolstering economic stability in the region.