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GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024
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GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024

Saudi Arabia’s General Authority for Statistics (GASTAT) released the international trade publication for November 2024, revealing a 19.7% increase in non-oil exports compared to November 2023.
The publication also highlighted an 82.9% rise in the value of re-exported goods during the same period, while merchandise exports decreased by 4.7% and imports grew by 13.9%, SPA reported.
It also showed that chemical products are among the most significant non-oil exports, accounting for 24.0% of the total, a 1.6% decrease compared to November 2023.
Plastics, rubber, and their products, which represented 21.7% of total non-oil exports, recorded a 4.0% increase compared to November 2023.
Machinery, electrical equipment and their parts accounted for 28.1% of total imports, showing a 22.4% increase compared to November 2023. Transportation equipment and their parts, representing 14.2% of total imports, also saw a 22.0% increase compared to November 2023.
The publication revealed that total exports reached SAR90.5 billion, total imports totaled SAR73.7 billion, and the trade balance stood at SAR16.8 billion.

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WEF, GCF to Establish Global Center for Cyber Economics in Riyadh

The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
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WEF, GCF to Establish Global Center for Cyber Economics in Riyadh

The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA
The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world - SPA

The Global Cybersecurity Forum (GCF) and the World Economic Forum (WEF) announced the signing of an agreement to establish the Center for Cyber Economics (CCE) in Riyadh, during the WEF Annual Meeting 2025 in Davos, Switzerland.
GCF and WEF aim to establish the Center as a global platform that addresses the economic dimension of cybersecurity. The Center will advance knowledge to enable decision-makers worldwide to build a deep understanding of the close relationship between economics and cybersecurity. The Center’s research and studies will also provide robust tools for formulating policies and strategies to safeguard the global economy while contributing to enhancing cybersecurity around the world, SPA reported.
Governor of the National Cybersecurity Authority Eng. Majed bin Mohammed Al-Mazyed, acting on behalf of the Board of Trustees, Global Cybersecurity Forum, noted that the establishment of the Center – a collaboration between GCF and WEF – forms part of cybersecurity efforts in Saudi Arabia that have culminated in its world-leading position in the sector. The Kingdom’s contributions to the cybersecurity sector at local, regional, and global levels have gained the Saudi model of cybersecurity recognition for its successful and pioneering approach.
Al-Mazyed added that the development of the Center for Cyber Economics sits within the framework of the Kingdom of Saudi Arabia’s aims to build global platforms and launch pioneering global initiatives in various fields related to the sector, including the establishment of GCF as an institute by Royal Decree in 2023.
GCF aims to push knowledge boundaries, build the foundations for cooperation in Cyberspace, and leverage opportunities within the cybersecurity sector to enhance cyber resilience and enable prosperity around the world.