Saudi Arabia's Arab League Trade Exceeds SAR 87 Bln In Q4 '24

2025-04-16 05:05:06

(MENAFN- Kuwait News Agency (KUNA)) Following is report by Saudi Press Agency (SPA), as part of the Federation of Arab News Agencies (FANA) economy file

RIYADH, April 16 (KUNA) -- Propelled by its ambitious Vision 2030, Saudi Arabia is surpassing economic projections, establishing itself as a significant global force.
Saudi Arabia's unique geographical position, connecting three continents, positions it as a pivotal trade and investment hub, supported by progressive economic policies and infrastructure.
The Kingdom's diversification efforts are yielding substantial growth, with non-oil exports and strategic partnerships contributing to record figures.
Saudi Arabia's trade with Arab League nations, including the Gulf Cooperation Council (GCC), reached SAR 87.768 billion in the fourth quarter of 2024, representing 17.2 percent of the Kingdom's total global trade of SAR 510.974 billion.
This trade volume demonstrates a 6.2 percent annual growth rate, exceeding the Q4 2023 figure of SAR 82.679 billion by over SAR five billion.
According to the General Authority for Statistics' quarterly International Trade Bulletin, the Kingdom's trade surplus with Arab League countries, including the GCC, significantly increased to SAR 30.461 billion in Q4 2024, up from SAR 22.185 billion in the same period of 2023, marking a 37.3 percent annual growth.
Saudi Arabia's total exports to Arab League countries amounted to SAR 59.114 billion. Of this, SAR 39.507 billion were destined for GCC nations, accounting for 14.2 percent of the Kingdom's total global exports of SAR 277.932 billion. Exports to non-GCC Arab League countries reached SAR 19.607 billion, representing 7.1 percent of total exports.
Saudi Arabia's imports from Arab League countries totaled SAR 28.653 billion, or 12.3 percent of total imports. Within this, SAR 18.354 billion came from GCC countries, and SAR 10.298 billion from other Arab League nations. The Kingdom's total global imports were SAR 233.042 billion.
The United Arab Emirates emerged as Saudi Arabia's top Arab export destination in Q4 2024, with exports exceeding SAR 23.512 billion. Bahrain followed with SAR 8.423 billion, Egypt with SAR 8.353 billion, Oman with SAR 4.434 billion, and Jordan with SAR 2.999 billion. (end) aa

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