RIYADH: Saudi Arabia’s non-oil exports have surged 113 percent since the launch of Vision 2030 to reach SR515 billion ($137 billion) in 2024, new figures showed.

This number marks a 13 percent year-on-year rise compared to the previous year, the Saudi Press Agency reported.

The newly released figures fall in line with Saudi Vision 2030’s goal of building a prosperous economy, with non-oil exports positioned as a key driver of long-term, sustainable development.

It also aligns with the Kingdom’s objective to increase the proportion of non-oil exports to 50 percent of the non-oil gross domestic product by 2030.

Abdulrahman Al-Thukair, CEO of the Saudi Export Development Authority, credited the milestone to ongoing efforts to diversify the economy and enhance the competitiveness of Saudi products.

He emphasized the authority’s commitment to supporting businesses through programs focused on training, market access, promotion, and advisory services.

The report highlighted robust growth across all export sectors. Merchandise exports rose 4 percent year on year to SR217 billion, fueled by a 2 percent increase in petrochemical exports and a 9 percent jump in non-petrochemical exports.

Re-exports recorded remarkable growth, reaching SR90 billion in 2024 — a 205 percent surge since 2016. Services exports also hit an all-time high of SR207 billion, representing a 14 percent year-on-year increase and a 220 percent leap compared to the beginning of Vision 2030.

Petrochemical commodity exports accounted for SR149 billion—68 percent of total commodity exports—while non-petrochemical goods, including food, dairy products, minerals, and construction materials, reached SR69 billion, the highest in recent years.

Fertilizer exports saw notable expansion, with volumes rising 5 percent year-on-year and values increasing more than fivefold since 2016.

A major driver behind the rise in re-exports was the booming trade in mobile phones, which more than doubled to SR25 billion in 2024. The integrated logistics zone at King Khalid International Airport also contributed to supply chain efficiencies, further boosting re-export activities.

Machinery, automated devices, transportation equipment, and related parts made up 84 percent of re-exports, while re-exports of aircraft parts climbed from SR1.6 billion in 2022 to over SR2 billion in 2024.

Saudi Arabia’s export network now spans over 180 countries, with 37 nations setting new import records in 2024. Key markets include the UAE, Bahrain, Iraq, Oman, Algeria, Spain, France, Poland, Libya, and Syria. Other countries such as Indonesia, Thailand, Morocco, Pakistan, Nigeria, Germany, Greece, and Bulgaria also recorded unprecedented import levels.

The Kingdom’s services sector, particularly travel and tourism, played a pivotal role in export growth. Services exports reached a record SR207 billion, driven largely by a 270 percent increase in the travel and tourism sector since 2016. Saudi Arabia hosted around 30 million international tourists in 2024, resulting in a 150 percent rise in travel exports compared to 2019, which now account for 74 percent of all service exports.

Tourism revenues surged by 148 percent compared to pre-pandemic levels, while international tourist arrivals rose 69 percent. Saudi Arabia also topped the G20 in tourism growth, recording a 73 percent increase during the first seven months of 2024 compared to the same period in 2019.

The transportation sector contributed 12 percent to total services exports, with a 5 percent annual growth rate.

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 8.18 points, or 0.07 percent, to close at 11,756.21. 

The total trading turnover of the benchmark index was SR4.27 billion ($1.13 million), as 154 of the stocks advanced and 86 retreated.   

The Kingdom’s parallel market, Nomu, also lost 28.57 points, or 0.10 percent, to close at 28,570.03. This comes as 41stocks advanced while 48 retreated.   

The MSCI Tadawul Index lost 3.03 points, or 0.20 percent, to close at 1,497.68.    

The best-performing stock of the day was Al-Baha Investment and Development Co., whose share price surged 9.94 percent to SR3.87.  

Other top performers included Saudi Reinsurance Co., whose share price rose 9.83 percent to SR48.05, as well as Anaam International Holding Group, whose share price surged 9.33 percent to SR18.74.

Mobile Telecommunication Co. Saudi Arabia recorded the most significant drop, falling 4.15 percent to SR12.46.

Arabian Internet and Communications Services Co. also saw its stock prices fall 3.66 percent to SR300.

Derayah Financial Co. also saw its stock prices decline 2.91 percent to SR30.05.

On the announcements front, SABIC Agri-Nutrients Co. announced its interim condensed consolidated financial results for the period ending on March 31. 

According to a Tadawul statement, the firm reported a net profit of SR985 million in the first quarter of 2025, reflecting a 17.12 percent surge compared to the same quarter in 2024. 

This increase is mainly due to a 22 percent rise in sales, an increase in the share of results from an associate and a joint venture; yet, it was limited by a jump in the cost of goods sold mainly due to the increase in primarily feedstock costs.

SABIC Agri-Nutrients Co. ended the session at SR105.40, down 0.58 percent.

Bank Albilad has also announced its interim condensed consolidated financial results for the first three months of 2025.

A bourse filing revealed that the company reported a net profit of SR700.4 million in the period ending March 31, up 8.9 percent compared to the corresponding quarter a year earlier. This rise in net profit is primarily attributed to an increase in net income from investing and financing assets, net exchange income, and net fee and commission income.

Bank Albilad ended the session at SR29.40, up 0.51 percent.

Saudi Awwal Bank has also announced its interim financial results for the period ending on March 31. According to a Tadawul statement, the firm reported a net profit of SR2.13 billion in the first quarter of 2025, reflecting a 4.5 percent rise compared to the same quarter in 2024. This increase is mainly linked to a rise in total operating income. This was partially offset by an increase in net provision for expected credit losses, and total operating expenses.

Saudi Awwal Bank ended the session at SR35.90, up 0.28 percent.

Arab National Bank announces its interim financial results for the first three months of 2025. A bourse filing revealed that the company reported a net profit of SR1.3 billion in the period ending March 3, up 5.5 percent compared to the corresponding quarter a year earlier.

Arab National Bank ended the session at SR22.32, down 1.35 percent.

Saudi Tadawul Group Holding Co.  announced its interim financial results for the period ending on March 31. According to a Tadawul statement, the firm reported a net profit of SR120.5 million in the first quarter of 2025, reflecting a 40.19 percent drop compared to the same quarter in 2024. This decrease is mainly linked to a decline in operating revenues, a rise in operating expenditures, and a drop in earnings per share, as well as a reduction in gross profit coupled with a drop in operational profit.

Saudi Tadawul Group Holding Co. ended the session at SR194.00, down 1.63 percent.

Saudi Telecom Co. has announced that it will distribute SR2.74 million in interim dividends to the shareholders for the first quarter of 2025.

According to a Tadawul statement, the total number of shares eligible for dividends amounted to 4.98 billion, with the dividend per share standing at SR0.55. The statement also revealed that the dividend percentage to the share par value stood at 5.5 percent.

Saudi Telecom Co. ended the session at SR48.00, up 0.21 percent.