Saudi Non-Oil Exports: Record Growth for 2024
The Saudi Export Development Authority announced that Saudi Arabia achieved a record high in its non-oil exports for 2024, with a total value of 515 billion Saudi Riyals (11.3 billion USD), marking a 13% growth compared to the previous year.
This significant growth is attributed to the strong recovery in export sectors, particularly services exports and re-exports, which were key pillars of this achievement. All export sectors saw notable growth, with goods exports increasing, driven by a 2% rise in petrochemical exports and a 9% increase in non-petrochemical exports.
Regarding re-exports, the Authority reported a record value of 90 billion Saudi Riyals (3.6 billion USD), achieving a 205% growth since the launch of Saudi Vision 2030. Meanwhile, the services exports sector reached an unprecedented level, with a value of 207 billion Saudi Riyals (11.1 billion USD), growing by 14% compared to the previous year and 220% since the Vision’s announcement.
Engineer Abdulrahman Al-Dhaker, CEO of the Saudi Export Development Authority, stated that this exceptional performance reflects the success of the Kingdom’s continuous efforts to diversify its economy and increase the competitiveness of national products. Al-Dhaker confirmed that the Authority continues to empower national companies to access new markets and provides support through integrated programs, including training, promotion, and advisory services.
He also noted that non-petrochemical goods exports achieved outstanding results, totaling 69 billion Saudi Riyals, representing 32% of total goods exports, while the fertilizers sector saw exceptional performance in 2024, with a 5% increase compared to the previous year.
