Saudi service exports decline as Morocco reports rising local tax revenues

Saudi Arabia reported a 16.5% decline in service exports during the second quarter of 2026, totaling approximately 59.5 billion riyals. This decrease was primarily driven by a 23.6% drop in travel service exports. Despite the decline, travel services remained the largest export category at 33.8 billion riyals. Conversely, service imports rose by 8.4% to 120.8 billion riyals, largely due to a 17% increase in travel service imports.

In Morocco, tax revenues for local authorities reached 34.7 billion dirhams by the end of August 2026, representing a 15% increase compared to the same period last year. This growth was fueled by a 20.8% rise in direct taxes and a 10% rise in indirect taxes. Transferred resources also saw an 8.2% increase, reaching 22.4 billion dirhams, supported by higher shares of value-added tax and corporate/income tax revenues.