02 Mar 2025
RIYADH: Saudi Arabia’s non-oil exports to China reached SR3.68 billion ($980 million) in December, representing a rise of 69.58 percent compared to the previous month, the latest official data showed.
According to the General Authority for Statistics, the Kingdom exported plastic and rubber goods valued at SR1.12 billion, followed by chemical products at SR1.11 billion and transport parts at SR1.02 billion.
Non-oil shipments from Saudi Arabia to China amounted to SR2.17 billion in November, while the amount was SR2.35 billion in October and SR1.73 billion in September.
The strong flow of the Kingdom’s non-oil goods to the Asian country underlines the strengthening bilateral relations between both nations, with Saudi Arabia being the largest trading partner of China in the Middle East since 2001.
China and Saudi Arabia are strategic partners in various other sectors such as energy and finance, as well as the Belt and Road Initiative.
The rise in non-oil exports also signifies the progress of Saudi Arabia’s economic diversification journey, as the Kingdom is on a path to reduce its decades-long reliance on oil revenues.
Affirming the growth of Saudi Arabia’s non-oil private sector, the Kingdom’s Purchasing Managers’ Index reached 60.5 in January, the highest level in 10 years, and the top among the Middle East nations, according to the Riyad Bank Saudi Arabia PMI survey compiled by S&P Global.
In the UAE, the PMI stood at 55 in January, while it was 53.4 in Kuwait, 50.2 in Qatar and 50.7 in Egypt.
Any PMI readings above 50 indicate growth of the non-oil private sector, while readings below the number signal contraction.