Page 32 - Policy Economic Report - September 2026

POLICY AND ECONOMIC
OIL & GAS MARKET

2026–27, services exports were estimated at US$183.36 billion, compared with US$162.34 billion during
the corresponding period of the previous year. Services imports increased to US$96.65 billion from
US$82.40 billion, resulting in a services trade surplus of US$86.71 billion, compared with US$79.94 billion
in April–August 2025–26.
Table 2: Trade during August 2026

Source: Ministry of Commerce & Industry
Figure 15: Total Trade during August 2026 (estimated)

Source: Ministry of Commerce & Industry

The performance of non-petroleum exports also remained encouraging, indicating that export growth
was not solely dependent on petroleum products. Non-petroleum exports increased to US$37.00 billion
in August 2026 from US$30.57 billion in August 2025. Non-petroleum and non-gems & jewellery exports
increased to US$34.68 billion from US$28.26 billion. During April–August 2026–27, cumulative non-
petroleum exports stood at US$180.61 billion, representing an increase of 14.39 per cent over the
corresponding period of the previous year. Non-petroleum and non-gems & jewellery exports increased
to US$168.69 billion from US$146.52 billion.

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