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Saudi Arabia’s Non-oil Exports Rise 3.3% in Q1 of 2024

The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
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Saudi Arabia’s Non-oil Exports Rise 3.3% in Q1 of 2024

The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)
The Saudi government continues to support non-oil activities to achieve economic growth (Asharq Al-Awsat)

Saudi Arabia’s non-oil exports recorded an annual increase of 3.3 percent in the first quarter of 2024 compared to the same period in 2023, the General Authority for Statistics (GASTAT) revealed on Thursday.

 

This increase was mainly attributed to a rise in the value of re-exports, which reached SR6.4 billion in March 2024, an 18 percent increase compared to SR5.4 billion in March 2023.

The International Trade Q1 2024 report by GASTAT pointed to positive trends in the Kingdom’s export sector.

The report revealed a significant 19 percent increase in exports of chemical and allied industry products in March 2024 compared to the previous month, reaching a value of SR6.5 billion in March.

Merchandise exports and non-oil exports also rose by five percent and six percent respectively in March, compared to February 2024.

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Saudi Arabia Achieves 66% Grape Self-Sufficiency

The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA
The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA
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Saudi Arabia Achieves 66% Grape Self-Sufficiency

The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA
The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops. - SPA

The Saudi Ministry of Environment, Water, and Agriculture reported that Saudi Arabia's grape production surpassed 122,000 tons in 2023, reflecting the robust growth of the local agricultural sector and its ability to meet significant market demands.

This production has contributed to a 66% self-sufficiency rate, strengthening national food security and reducing reliance on imports, according to SPA.
The Kingdom's grape industry comprises over 7.1 million grape trees, with more than 6.1 million bearing fruit, underscoring the sector's productive capacity. The diversity and quality of local grape varieties have made them highly competitive in domestic markets.
This variety also supports processing industries, enabling the production of natural juices, jams, raisins, and other food products, thereby enhancing the agricultural sector’s economic value in line with Vision 2030 goals.
The ministry continues to support farmers by providing access to modern technologies such as smart irrigation and organic farming practices to improve productivity, quality, and water resource efficiency.

The growth in grape production is a result of initiatives aimed at developing agricultural production chains and stimulating investment in competitive crops.