RIYADH: Saudi Arabia’s non-oil exports saw an annual rise of 24.6 percent in April, reaching SR28.36 billion ($7.56 billion) thanks to a sharp increase in re-exports and a strong performance in chemicals and plastics.
According to data released by the General Authority for Statistics, national non-oil exports — excluding re-exports — grew 6.8 percent during the month, while the value of re-exported goods increased 72 percent.
Saudi Arabia’s non-oil exports hit a record SR515 billion ($137 billion) in 2024, up 13 percent from 2023 and over 113 percent since the launch of Vision 2030 in 2019, which aims to diversify the Kingdom’s economy and reduce its dependence on oil by expanding industrial, mining, and service sectors.
The strong non-oil export performance comes as the World Bank projects Gulf economic growth to accelerate to 3.2 percent in 2025 and 4.5 percent in 2026, driven by the rollback of OPEC+ oil production cuts and continued momentum in non-oil sectors.
In its latest release, GASTAT stated: “Among the most important non-oil exports are plastics, rubber, and their products, which constituted 21.7 percent of total non-oil exports, recording a 4.0 percent increase compared to April 2024,” the report said, adding that chemical products followed at 21 percent of the total, with a 2.3 percent year-on-year increase.
