Latest news with #SaudiExportDevelopmentAuthority
Leaders
30-05-2025
- Business
- Leaders
Acting Deputy Minister Opens Saudi Pavilion at HANNOVER MESSE in Istanbul
Eng. Albadr Fouda, Acting Deputy Minister for Industrial Enablement at the Ministry of Industry and Mineral Resources, inaugurated the Saudi pavilion at HANNOVER MESSE (World of Industry-WIN) 2025, currently taking place in Istanbul, Türkiye, and running through May 31. The pavilion highlights Saudi Arabia's industrial transformation, showcasing cutting-edge smart technologies and innovative solutions while promoting investment opportunities across key industrial sectors. The ministry's participation coincides with the launch of the Advanced Manufacturing and Production Center, a strategic initiative to accelerate smart transformation in industrial facilities through advanced manufacturing technologies—enhancing the global competitiveness of the Saudi industrial sector. Six core entities from the Kingdom's industrial and mining ecosystem are represented at the pavilion: the Ministry of Industry and Mineral Resources, Royal Commission for Jubail and Yanbu, Saudi Export Development Authority, National Industrial Development Center, Saudi Industrial Development Fund, and MODON (Saudi Authority for Industrial Cities and Technology Zones). Also present are the Ministry of Investment and Obeikan Investment Group. By engaging with global leaders in industrial automation, robotics, and AI, the ministry aims to strengthen international partnerships, attract investment in advanced technologies, and position the Kingdom as a global industrial hub—aligned with the goals of Saudi Vision 2030. Moreover, in a strategic move to boost its international industrial profile, Saudi Arabia is set to host the next edition of HANNOVER MESSE in Riyadh in December 2025. Related Topics : Saudi Arabia Showcases Latest Industrial Innovations at Hannover Messe 2025 Saudi Arabia to Spotlight Industrial Innovation at Hannover Messe 2025 Industrial Transformation Saudi Arabia 2025 to Kick Off in December IsDB Group Commemorates Golden Jubilee Celebration Short link : Post Views: 24
Saudi Gazette
12-05-2025
- Business
- Saudi Gazette
Saudi Export Development Authority concludes trade mission to US
Saudi Gazette report RIYADH — The Saudi Export Development Authority organized a trade mission in cooperation with the Saudi-American Business Council, with the participation of the Ministry of Industry and Mineral Resources, and the Saudi Export-Import Bank. The delegation visited Detroit and New York from May 5 to 8. As many as 34 Saudi companies from various sectors, including food, building materials, communications and information technology, transportation and logistics, and healthcare participated in the mission. Representatives of the companies met with a number of US importers through bilateral meetings and business matching meetings, which resulted in the signing of several export agreements and memoranda of understanding between the two sides. The mission made field visits to major companies in the building materials sector and food distribution companies, with the aim of assessing the demand for Saudi products and studying consumer trends in the US market. Trade missions are one of the most important services provided by Saudi Exports to support exporters and connect them with major importers from around the world. The Saudi Export Development Authority intends to organize a number of missions during 2025 in several countries, including South Africa, Brazil, Iraq. This will enhance the penetration of exports of national goods and services and enable exporters to access targeted international markets. This is in line with the objectives of the Kingdom's Vision 2030, which aims to diversify sources of national income and raise the percentage of non-oil exports to no less than 50% of the non-oil GDP.
Arabian Business
28-04-2025
- Business
- Arabian Business
Saudi non-oil exports passed $137bn last year
Saudi Arabia's non-oil exports reached SR515bn ($137.3bn) in 2024, marking the highest value in the Kingdom's history. This achievement represents a significant 13 per cent increase compared to the previous year and an impressive growth of over 113 per cent since the launch of Vision 2030. The robust growth spanned all export sectors. Merchandise exports climbed to SR217bn ($57.8bn/+4 per cent), fuelled by respective increases of 2 per cent and 9 per cent in petrochemical and non-petrochemical exports. Saudi non-oil exports Notably, re-exports surged to SR90bn ($24bn), demonstrating a remarkable 205 per cent growth since the inception of Vision 2030. Services exports also reached an all-time high of SR207bn ($55.2bn), exhibiting a 14 per cent year-on-year increase and a substantial 220 per cent rise since Vision 2030's announcement. Saudi Export Development Authority CEO Abdulrahman Althukair 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. In 2024, petrochemical commodity exports amounted to SR149bn ($39.7bn), constituting 68 per cent of total commodity exports, and registered a 2 per cent increase in value and weight compared to the previous year. Non-petrochemical commodity exports achieved a remarkable SR69bn ($18.4bn/32 per cent 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. Fertiliser exports also demonstrated exceptional growth, with product weight reaching a historic peak in 2024, increasing by 5 per cent year-on-year, and more than fivefold in value since the launch of Vision 2030. Saudi Arabia's re-export sector also delivered a historic performance in 2024, reaching SR90bn ($24bn), a 205 per cent increase compared to 2016, a 42 per cent rise year-on-year, and a 114 per cent increase compared to 2019. This was primarily driven by the re-export of mobile phones, which reached a record value of SR25bn ($6.7bn), 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 per cent of total re-exports in 2024. Notably, re-exports of aircraft parts also experienced substantial growth, increasing from SR1.6bn ($427m) in 2022 to over SR2bn ($533m) in 2024. In 2024, the Kingdom exported goods, re-exports, and services to more than 180 countries, with 37 countries registering record import values, including: UAE Bahrain Iraq Oman Algeria Spain France Poland Libya Syria Other countries, such as Indonesia, Thailand, Morocco, Pakistan, Nigeria, Germany, Greece, and Bulgaria, also achieved record import volumes. Services exports reached a record SR207bn ($55.2bn) in 2024, marking a 14 per cent year-on-year increase and a 220 per cent rise since 2016. The travel and tourism sector was a key driver, increasing by 270 per cent since 2016. In 2024, Saudi Arabia welcomed approximately 30m international tourists, contributing to a 150 per cent increase in travel exports compared to 2019, representing 74 per cent of total service exports. The Kingdom also recorded a 69 per cent increase in international tourist numbers compared to pre-pandemic levels and a 148 per cent increase in tourism revenues compared to 2019. Saudi Arabia led the G20 in tourist number growth, with a 73 per cent growth rate during the first seven months of 2024 compared to the same period in 2019.
CairoScene
28-04-2025
- Business
- CairoScene
Non-Oil Exports Hit Record USD 180 Billion in 2024
Saudi non-oil exports reach SAR 515 billion in 2024, up 13% year-on-year and 113% since Vision 2030 began. Saudi Arabia's non-oil exports reached a record SAR 515 billion (approximately USD 180 billion) in 2024, marking a 13% increase compared to 2023. Since the launch of the Vision 2030 initiative, non-oil exports have grown by more than 113%, highlighting the Kingdom's progress in reducing its dependence on oil revenues. The Saudi Export Development Authority attributed the continued growth to targeted investments in infrastructure, tourism, manufacturing, and sports sectors. These efforts are part of broader economic diversification strategies aimed at positioning Saudi Arabia as a global business hub. According to Saudi Arabia's 2024 annual Vision 2030 report, the Kingdom also attracted SAR 77.6 billion (approximately USD 20.7 billion) in foreign direct investment during the year. Officials reaffirmed their target of reaching USD 100 billion in annual FDI inflows by 2030.
Saudi Gazette
28-04-2025
- Business
- Saudi Gazette
Saudi Arabia's non-oil exports hit historic high of SR515bn in 2024
Saudi Gazette report 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.
