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Saudi Non-oil Exports Surge 12.4% to SR101.7 Billion in April

There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)
There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)
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Saudi Non-oil Exports Surge 12.4% to SR101.7 Billion in April

There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)
There was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024 (File Photo AAWSAT)

Saudi Arabia’s non-oil exports, including re-exports, recorded a jump of 12.4 percent, reaching SR101.7 billion in April 2024, compared to the same period in 2023.

The General Authority for Statistics (GASTAT) latest report on Monday showed there has also been an increase in non-oil exports excluding re-exports as well, but at a lower rate of 1.6 percent, while the value of re-exported goods jumped to 56.4 percent in April compared to the same month in 2023.

The report pointed out that there was an increase in the ratio of non-oil exports, including re-exports, to imports in April 2024, reaching 37.1 percent compared to 32.6 percent in April 2023, as a result of an increase in non-oil exports by 12.4 percent, bringing the decrease in imports to 1.3 percent during this period.

The GASTAT said in its international trade report that merchandise exports decreased by one percent in April, as a result of a decline in petroleum exports by 4.2 percent, while the percentage of petroleum exports out of total exports decreased from 80.6 percent in April 2023 to 78 percent in the same month of 2024.

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Saudi Arabia, Canada Discuss Smart Industrial Cities

The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
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Saudi Arabia, Canada Discuss Smart Industrial Cities

The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA
The meetings held by the Saudi Minister of Industry and Mineral Resources with Canadian ministers are aimed at strengthening industrial and mining cooperation between the two countries. SPA

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has discussed with Canadian government ministers ways to bolster industrial and mining cooperation between the two countries, opportunities for developing industrial innovation, and building an effective partnership to establish smart industrial cities in the Kingdom by leveraging Canadian expertise.

During his meeting with Canadian Minister of Innovation, Science and Industry François-Philippe Champagne, and accompanied by National Industrial Development Center Chief Executive Saleh AlSulami, Alkhorayef underscored the Kingdom's commitment to benefiting from the applications of the Fourth Industrial Revolution, particularly artificial intelligence (AI) and robotics, to develop the industrial sector and create added value, while improving production efficiency in industrial facilities.

Meeting participants discussed enhancing cooperation in the field of industrial digitization, utilizing AI technologies to improve industrial processes, and exploring opportunities for collaboration in building smart industrial cities in the Kingdom, benefiting from Canadian advancements in digital infrastructure.

The two sides also discussed collaboration between the Kingdom and Canada in the field of innovation, including the partnership between the Saudi Ministry of Education and Metax, a Canadian research organization funded by the Ministry of Innovation, Science and Industry with a focus on providing joint research opportunities for graduate and doctoral students in both countries.

During a meeting with Canadian Minister of International Development Ahmed Hussen, Alkhorayef discussed ways to enhance economic relations and non-oil trade between the two countries, given the fact that the Kingdom is the largest trading partner for Canada in the Middle East and North Africa. The ministers reviewed the role of industrial development globally in advancing communities, increasing their well-being, and improving individuals' living standards.

Alkhorayef and Canada's Mining Industry Human Resources Council (MIHR) executive director Ryan Montpellier discussed opportunities to benefit from council's expertise in workforce human capabilities development strategies in the mining sector.

The meetings held by the Minister of Industry and Mineral Resources with Canadian ministers are part of his visit to Canada, aimed at strengthening industrial and mining cooperation between the two countries, exploring mutual opportunities in both sectors, and attracting foreign investments to the Kingdom.