Saudi Arabia Reports Record Non-Oil Exports of $180 Billion in 2024

Saudi Arabia's non-oil exports reached a historic high of 515 billion riyals (approximately $137 billion) in 2024, marking a 13% increase from the previous year and over 113% growth since the launch of Vision 2030. This surge reflects the kingdom's sustained efforts to diversify its economy away from oil, with significant investments in tourism, sports, manufacturing, and infrastructure. Petrochemical commodities made up 68% of total commodity exports, while non-petrochemical exports and re-exports—particularly mobile phones—also saw notable increases. Services exports, especially in travel and tourism, achieved record levels, supported by about 30 million international tourists visiting the country in 2024. The Saudi Export Development Authority attributed these results to improved market access, comprehensive support programs for exporters, and enhanced logistics infrastructure. Saudi Arabia continues to pursue ambitious goals for foreign direct investment to further sustain this economic transformation.