RIYADH: 黑料社区鈥檚 non-oil exports reached an unprecedented SR515 billion ($137 billion) in 2024, marking the highest value in the Kingdom鈥檚 history.
This achievement represents a significant 13 percent increase compared to the previous year and an impressive growth of over 113 percent since the launch of Vision 2030.
The robust growth spanned all export sectors. Merchandise exports climbed to SR217 billion (+4 percent), fueled by respective increases of 2 percent and 9 percent in petrochemical and non-petrochemical exports.
Notably, re-exports surged to SR90 billion, demonstrating a remarkable 205 percent growth since the inception of Vision 2030. Services exports also reached an all-time high of SR207 billion, exhibiting a 14 percent year-on-year increase and a substantial 220 percent rise since Vision 2030鈥檚 announcement.
Saudi Export Development Authority CEO Abdulrahman Al-Thukair attributed this historic non-oil export performance to the Kingdom's sustained efforts in economic diversification and enhancing the competitiveness of national products.
He highlighted the authority's commitment to facilitating national companies' access to new markets and bolstering their export capabilities through comprehensive programs encompassing training, empowerment, promotion, and advisory services. This aligns with Vision 2030鈥檚 goals to establish a thriving economy where non-oil exports are a key driver of sustainable growth.
In 2024, petrochemical commodity exports amounted to SR149 billion, constituting 68 percent of total commodity exports, and registered a 2 percent increase in value and weight compared to the previous year.
Non-petrochemical commodity exports achieved a remarkable SR69 billion (32 percent of total commodity exports), the highest value in recent years. This included record export figures for over 205 Saudi products, such as food and dairy products, minerals, and building materials. Fertilizer exports also demonstrated exceptional growth, with product weight reaching a historic peak in 2024, increasing by 5 percent year on year, and more than fivefold in value since the launch of Vision 2030.
The Kingdom鈥檚 re-export sector also delivered a historic performance in 2024, reaching SR90 billion, a 205 percent increase compared to 2016, a 42 percent rise year on year, and a 114 percent increase compared to 2019.
This was primarily driven by the re-export of mobile phones, which reached a record value of SR25 billion, more than doubling their 2023 value. The operation of the integrated logistics zone at King Khalid International Airport played a significant role in this remarkable growth by enhancing supply chain efficiency and facilitating re-export operations.
Machinery, automated devices, transportation equipment, and parts thereof constituted 84 percent of total re-exports in 2024. Notably, re-exports of aircraft parts also experienced substantial growth, increasing from SR1.6 billion in 2022 to over SR2 billion in 2024.
In 2024, the Kingdom exported goods, re-exports, and services to over 180 countries, with 37 countries registering record import values, including the UAE, Bahrain, Iraq, Oman, Algeria, Spain, France, Poland, Libya, and Syria. Other countries, such as Indonesia, Thailand, Morocco, Pakistan, Nigeria, Germany, Greece, and Bulgaria, also achieved record import volumes.
Services exports reached a record SR207 billion in 2024, marking a 14 percent year-on-year increase and a 220 percent rise since 2016. The travel and tourism sector was a key driver, increasing by 270 percent since 2016. In 2024, 黑料社区 welcomed approximately 30 million international tourists, contributing to a 150 percent increase in travel exports compared to 2019, representing 74 percent of total service exports.
The Kingdom also recorded a 69 percent increase in international tourist numbers compared to pre-pandemic levels and a 148 percent increase in tourism revenues compared to 2019.
黑料社区 led the G20 in tourist number growth, with a 73 percent growth rate during the first seven months of 2024 compared to the same period in 2019. The transportation sector contributed 12 percent of total service exports, achieving a 5 percent year-on-year growth.
