RIYADH — Saudi Arabia's non-oil exports recorded a high performance in 2024 with a total value of SR515 billion, the highest in its history. Exports grew by 13% compared to the previous year, in addition to an increase of more than 113% since the launch of Vision 2030, reflecting the diversity of the national economy and confirming the competitiveness of Saudi products and services in global markets, the Saudi Press Agency reported. The growth included all export sectors. Merchandise exports rose to SR217 billion (+4%), driven by an increase in petrochemical and non-petrochemical exports by 2% and 9%, respectively. Re-exports reached SR90 billion, a 205% growth since the Vision's launch. Service exports reached an all-time high of SR207 billion, a 14% growth compared to the previous year and a 220% growth since the Vision's launch. "The historic performance of non-oil exports in 2024 is a culmination of Saudi Arabia's ongoing efforts to diversify the economy and increase the competitiveness of national products," said Eng. Abdulrahman Al-Dhakir, CEO of the Saudi Export Development Authority. He also emphasized that the Authority enables national companies to access new markets and enhance their export readiness through integrated programs that include training, empowerment, promotion, and advisory services, among others. It also continues to support the goals of the Kingdom's Vision 2030, to build a prosperous economy in which non-oil exports contribute effectively as one of the pillars of sustainable growth. Petrochemical exports reached SR149 billion in 2024 (68% of total commodity exports), recording a 2% increase in value year-on-year, as well as in weight. Non-petrochemical exports recorded a remarkable performance, reaching SR69 billion (representing 32% of total commodity exports), the highest value in years. Record figures were recorded for the export of more than 205 Saudi products, including food and dairy products, minerals, and building materials. Fertilizer exports recorded exceptional performance, with the weight of products reaching a historic high in 2024, increasing by 5% year-on-year and more than five times its value since the launch of the vision. Meanwhile, Saudi Arabia's re-export sector recorded historic performance in 2024, reaching a value of SR90 billion, achieving a growth of 205% compared to 2016, a 42% increase year-on-year, and a 114% increase compared to 2019. This performance was primarily supported by the re-export of mobile phones, which alone reached a record value of SR25 billion, more than double their value in 2023. This remarkable growth is attributed to the operation of the integrated logistics zone at King Khalid International Airport, which has contributed to increasing the efficiency of supply chains and facilitating re-export operations. Machinery, mechanical devices, transportation equipment, and their parts accounted for 84% of total re-exports in 2024. Re-exports of aircraft parts also witnessed significant growth, with Saudi Arabia beginning exports in 2022 at a value of SR1.6 billion, rising to more than SR2 billion in 2024. Saudi Arabia exported to more than 180 countries in 2024, with 37 countries recording record import values, including the UAE, Bahrain, Iraq, the Sultanate of Oman, Algeria, Spain, France, Poland, Libya, and Syria. Other countries also achieved record import volumes, most notably Indonesia, Thailand, Morocco, Pakistan, Nigeria, Germany, Greece, and Bulgaria. Services exports also reached a record high, increasing 14% year-on-year and 220% since 2016, reaching SR207 billion in 2024. This growth was driven by the travel and tourism sector, which increased by 270% since 2016. Saudi Arabia welcomed approximately 30 million international tourists in 2024, and this contributed to a 150% increase in travel exports compared to 2019, representing 74% of total service exports. The Kingdom also recorded a 69% increase in the number of international tourists compared to pre-pandemic levels, and a 148% increase in tourism revenues compared to 2019. The Kingdom led the G20 countries in tourist arrivals, growing by 73% in the first seven months of 2024 compared to the same period in 2019. Meanwhile, the transportation sector contributed 12% of the total service exports, achieving a 5% year-on-year growth.
