Saudi Arabia, under the dynamic momentum of its Vision 2030 reform plan, is exceeding expectations and reinforcing its status as a global economic powerhouse.
Saudi trade expansion reflects success of Vision 2030 goals © Mena Today
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.
Iran's Foreign Minister Abbas Araqchi arrived in Oman on Saturday to discuss arrangements for the safe passage of ships through the Strait of Hormuz, with Washington seeking a public pledge of free, secure transit.
A written statement from Iran's Supreme Leader Ayatollah Mojtaba Khamenei threatened vengeance for the death of his predecessor and father on Saturday, but added that it would depend not only on Iran but also on "free people around the world".
The Turkish prosecutor has ordered the detention of 36 people, including the mayor of an Ankara district held by the main opposition, as part of an investigation into alleged bribery and tender rigging, the Ankara chief prosecutor's office said on Saturday.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
