According to government figures, Saudi Arabia’s non-oil exports increased by 10.5 percent year over year in the second quarter of 2024, driven mostly by shipments to China and the United Arab Emirates.
The General Authority for Statistics reports that non-oil items worth SR15.07 billion were transferred to the Kingdom’s Gulf neighbor, with SR7.08 billion traveling to the Asian giant, out of the SR51.16 billion ($13.63 billion) registered by the sector in the three months to the end of June.
The UAE imported mechanical appliances and machinery for SR5.83 billion, followed by shipments of chemical products and transport equipment for SR1.48 billion and SR3.68 billion, respectively.
China ranked first in terms of imports into the Kingdom as well, accounting for 23.1% of all shipments worth SR45.38 billion.
Increasing non-oil exports is at the core of Saudi Arabia’s Vision 2030 economic diversification policy, which aims to have the industry account for 50% of non-oil GDP by the conclusion of the ten-year period.
In the second quarter of 2024, Bahrain and India were among the other countries that imported items worth SR5.79 billion and SR5.48 billion, respectively, from Saudi Arabia.
Non-oil items were imported by Singapore for SR3.13, while products worth SR2.93 billion and SR2.40 billion were shipped to Turkey and Belgium, respectively.
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