Saudi Arabia's June trade surplus was SR18 billion, 10% narrower than June 2025, as merchandise exports fell 4.5% year on year and imports fell 3%. Non-oil exports dropped 9.7%, and the non-oil export-to-import ratio fell to 34.9% from 37.5%, while oil held 72% of the export mix, up from 70.4% a year earlier. Oil exports themselves were SR 63.2 billion in June, SR 7.71 billion below the previous month.
Oil's share of exports increased to 72% from 70.4%, while non-oil exports declined by 9.7%. The export mix deteriorated this month, and the surplus was maintained only because imports also decreased.
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Kicking the maturities to 2041
NDMC redeemed SR17.1bn ($4.5bn) of 2026–2030 sukuk and issued SR17.2bn maturing to 2041, a liability-management exercise.
The takeaway: A state that manages its maturity curve shows confidence, indicating long-term projects your business might supply.
Three trillion riyals, out the door
Saudi listed banks' Q2 2026 numbers, per Al Rajhi Capital: net loans rose 7% year on year to SR3.25 trillion ($865.2bn), deposits rose 9% to SR3.15 trillion, pushing the loan-to-deposit ratio to 103%, while net interest margin improved 5 basis points to 2.96%.
On the surface deposits are exceeding loans even though the loan-to-deposit ratio is still rising above 100٪, so this year wholesale funding costs should be the figure you look at rather than headline loan growth.
The second SIM tells the truth
Opensignal's Saudi read puts stc at 49.0% of the market, Mobily at 23.8% and Zain KSA at 14.6%, with virtual operators collectively near 12% and 7.4 million subscribers in early 2026. Zain customers are likeliest to carry a second SIM at about 37%, against 27% at Mobily and about 17% at stc; operators have invested over $1.5 billion in 5G spectrum since 2019.
Dual-SIM rates show pre-churn behavior, so focus your pricing and packaging on the second SIM instead of comparing only to a competitor's main plan.
