NIDLP sectors contribute 39% to non-oil GDP in 2024
RIYADH — The National Industrial Development and Logistics Program (NIDLP) contributed 39% to Saudi Arabia's non-oil GDP in 2024, amounting to SR986 billion, up from SR949 billion in 2023, according to the program's annual report.
Non-oil exports surged to SR514 billion last year, marking a 13.2% increase from 2023. This included SR217 billion in non-oil commodity exports (up 4%), SR91 billion in re-exports (up 42%), and SR207 billion in service exports (up 14%).
The top-performing export sectors included chemicals (SR78.5 billion), metals and products (SR23.3 billion), food and beverages (SR10.5 billion), and electrical equipment (SR42.9 billion).
The labor market showed strong momentum, with total employment across NIDLP sectors reaching 2.433 million workers in 2024.
The report highlighted the creation of over 508,000 new jobs during the year, including 81,000 jobs for Saudis, 42,000 men and 39,000 women.Key employment contributors were the manufacturing, mining and quarrying, electricity and gas, and transport and storage sectors.Private sector investments across NIDLP sectors reached SR665 billion in 2024. The Saudi Industrial Development Fund approved SR198 billion in cumulative loans, while the Saudi EXIM Bank provided SR69.14 billion in credit facilities.The total number of industrial establishments reached 12,589, with 1,511 ready-built factories. Cumulative private investments in industrial cities and special economic zones hit SR1.4 trillion.Local defense companies recorded SR34.32 billion in cumulative military sales. The national industrial strategy continues to focus on localizing value chains in future-facing industries, including medical supplies, automotive production, and petrochemical-related technologies.NIDLP oversaw the launch of renewable energy projects totaling 20 GW in capacity, including 3.7 GW in new solar agreements and 3.6 GW of newly operational capacity.The Kingdom recorded the lowest global wind energy cost at 5.87 halalas/kWh. These projects reduced carbon emissions by approximately 1.7 million tons annually.Mineral exploration spending reached SR228 per square kilometer, with a 380% increase in mining sites offered for competitive bidding.The mining sector aims to contribute SR176 billion to GDP by 2030 and create 219,000 jobs. Saudi Arabia was ranked the second-best globally for mining licensing environment.The logistics sector continued to advance, issuing 1,056 licenses. The number of export logistics centers rose to 23, up from just 2 in 2019.Port utilization improved to 64%, up from a baseline of 50.2%, while customs clearance time dropped to just two hours. Port container throughput reached 7.5 million TEUs.The program surpassed several Vision 2030 benchmarks. Military industry localization reached 19.35%, exceeding the 12.5% target and up from a 7.7% baseline. Local content in non-oil sectors reached SR1.23 trillion, ahead of the SR1.11 trillion goal.Licenses for emerging industries totaled 3,107—far above the 845-license target and 169-license baseline. Exports from these sectors hit SR135.6 billion cumulatively, exceeding the SR98.7 billion target and an SR18.6 billion baseline.The number of re-export logistics centers reached 23, outpacing the 16-center goal.By the end of 2024, the NIDLP portfolio included 284 initiatives, with 163 completed, representing a 57% execution rate.
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