Saudi Arabia emerges as regional economic powerhouse

Saudi Arabia, under the dynamic momentum of its Vision 2030 reform plan, is exceeding expectations and reinforcing its status as a global economic powerhouse.

Leveraging its strategic position at the crossroads of Asia, Africa, and Europe, the Kingdom continues to build robust trade and investment partnerships, particularly within the Arab region.

According to the General Authority for Statistics’ latest International Trade Bulletin, Saudi Arabia's trade with Arab League nations — including members of the Gulf Cooperation Council (GCC) — reached an impressive SAR87.77 billion in the fourth quarter of 2024. 

This figure represents 17.2 percent of the Kingdom's total global trade of SAR510.97 billion for the period and reflects a 6.2 percent increase from Q4 2023.

The trade surplus with Arab League countries surged by 37.3 percent year-on-year, reaching SAR30.46 billion in Q4 2024 compared to SAR22.18 billion in the same quarter the previous year.

Saudi Arabia’s exports to Arab League countries stood at SAR59.11 billion, with SAR39.51 billion of that going to GCC states — 14.2 percent of the Kingdom’s total global exports of SAR277.93 billion. Meanwhile, exports to non-GCC Arab League nations amounted to SAR19.61 billion, or 7.1 percent of total exports.

Imports from Arab League nations totaled SAR28.65 billion, comprising 12.3 percent of total Saudi imports. Of these, SAR18.35 billion came from GCC countries, while SAR10.30 billion were sourced from other Arab League states. The Kingdom’s total global imports reached SAR233.04 billion.

The United Arab Emirates remained Saudi Arabia’s top Arab trading partner, receiving SAR23.51 billion in exports in Q4 2024. Bahrain followed with SAR8.42 billion, Egypt SAR8.35 billion, Oman SAR4.43 billion, and Jordan SAR3.00 billion.

These figures underscore the success of Saudi Arabia's economic diversification and regional integration efforts, as non-oil trade and cross-border partnerships continue to flourish. 

As Vision 2030 advances, the Kingdom is poised to strengthen its position as a leading trade and economic hub in the Arab world and beyond.