Saudi Arabia's Non-Oil Exports Hit Historic High of SAR515 Billion in 2024

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia's Non-Oil Exports Hit Historic High of SAR515 Billion in 2024

A night view of Riyadh, Saudi Arabia. (SPA)
A night view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia's non-oil exports reached an unprecedented SAR515 billion in 2024, marking the highest value in the Kingdom's history. This achievement represents a significant 13% increase compared to the previous year and an impressive growth of over 113% since the launch of Vision 2030.

The robust growth spanned all export sectors. Merchandise exports climbed to SAR217 billion (+4%), fueled by respective increases of 2% and 9% in petrochemical and non-petrochemical exports, reported the Saudi Press Agency on Saturday.

Re-exports surged to SAR90 billion, demonstrating a remarkable 205% growth since the inception of Vision 2030. Services exports also reached an all-time high of SAR207 billion, exhibiting a 14% year-on-year increase and a substantial 220% rise since Vision 2030's announcement.

Saudi Export Development Authority CEO Abdulrahman Althukair attributed this historic non-oil export performance to the Kingdom's sustained efforts in economic diversification and enhancing the competitiveness of national products.

He highlighted the authority's commitment to facilitating national companies' access to new markets and bolstering their export capabilities through comprehensive programs encompassing training, empowerment, promotion, and advisory services. This aligns with Vision 2030's goals to establish a thriving economy where non-oil exports are a key driver of sustainable growth.

In 2024, petrochemical commodity exports amounted to SAR149 billion, constituting 68% of total commodity exports, and registered a 2% increase in value and weight compared to the previous year.

Non-petrochemical commodity exports achieved a remarkable SAR69 billion (32% of total commodity exports), the highest value in recent years. This included record export figures for over 205 Saudi products, such as food and dairy products, minerals, and building materials. Fertilizer exports also demonstrated exceptional growth, with product weight reaching a historic peak in 2024, increasing by 5% year-on-year, and more than fivefold in value since the launch of Vision 2030.

The Kingdom's re-export sector also delivered a historic performance in 2024, reaching SAR90 billion, a 205% increase compared to 2016, a 42% rise year-on-year, and a 114% increase compared to 2019. This was primarily driven by the re-export of mobile phones, which reached a record value of SAR25 billion, more than doubling their 2023 value. The operation of the integrated logistics zone at King Khalid International Airport played a significant role in this remarkable growth by enhancing supply chain efficiency and facilitating re-export operations.

Machinery, automated devices, transportation equipment, and parts thereof constituted 84% of total re-exports in 2024. Re-exports of aircraft parts also experienced substantial growth, increasing from SAR1.6 billion in 2022 to over SAR2 billion in 2024.

In 2024, the Kingdom exported goods, re-exports, and services to over 180 countries, with 37 countries registering record import values, including the UAE, Bahrain, Iraq, Oman, Algeria, Spain, France, Poland, Libya, and Syria. Other countries, such as Indonesia, Thailand, Morocco, Pakistan, Nigeria, Germany, Greece, and Bulgaria, also achieved record import volumes.

Services exports reached a record SAR207 billion in 2024, marking a 14% year-on-year increase and a 220% rise since 2016. The travel and tourism sector was a key driver, increasing by 270% since 2016. In 2024, Saudi Arabia welcomed approximately 30 million international tourists, contributing to a 150% increase in travel exports compared to 2019, representing 74% of total service exports.

The Kingdom also recorded a 69% increase in international tourist numbers compared to pre-pandemic levels and a 148% increase in tourism revenues compared to 2019. Saudi Arabia led the G20 in tourist number growth, with a 73% growth rate during the first seven months of 2024 compared to the same period in 2019. The transportation sector contributed 12% of total service exports, achieving a 5% year-on-year growth.



Saudi Airports Handle 141 Million Passengers in 2025 as Aircraft Fleet Expands

Travelers move through stanchion lines at the departure terminal of King Khalid International Airport in Riyadh. (AFP)
Travelers move through stanchion lines at the departure terminal of King Khalid International Airport in Riyadh. (AFP)
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Saudi Airports Handle 141 Million Passengers in 2025 as Aircraft Fleet Expands

Travelers move through stanchion lines at the departure terminal of King Khalid International Airport in Riyadh. (AFP)
Travelers move through stanchion lines at the departure terminal of King Khalid International Airport in Riyadh. (AFP)

Saudi Arabia’s airports handled 140.9 million passengers in 2025, marking another year of strong growth for the Kingdom’s aviation sector as the national aircraft fleet expanded by 33.8%, according to data released by the General Authority for Statistics.

The number of passengers traveling through Saudi airports rose 9.6% from 2024, reflecting the Kingdom’s accelerating push to strengthen its position as a regional travel hub and global aviation gateway.

International traffic accounted for 75.8 million passengers, up 9.4% year-on-year, while domestic passenger traffic increased 9.8% to 65.1 million. On average, Saudi airports handled around 207,700 international passengers and 178,600 domestic passengers a day.

King Abdulaziz International Airport in Jeddah remained the Kingdom’s busiest airport, handling 53.5 million passengers during the year, an increase of 9.0% from 2024. King Khalid International Airport in Riyadh followed with 40.8 million passengers, up 8.7%, while King Fahd International Airport in Dammam handled 13.7 million passengers, posting annual growth of 7.0%.

The increase in passenger traffic was accompanied by a rise in flight activity across the Kingdom’s airports. Total arriving and departing flights climbed 8.3% year-on-year to 979,800 flights in 2025, including 506,300 domestic flights, up 6.8%, and 473,500 international flights, up 9.9%.

King Abdulaziz International Airport also recorded the highest number of aircraft movements with 314,400 flights, followed by King Khalid International Airport with 296,800 flights and King Fahd International Airport with 108,500 flights.

Saudi Arabia’s aviation fleet recorded one of the strongest areas of growth during the year, with the total number of commercial and general aviation aircraft rising to 483 from the previous year’s level. The fleet included 266 commercial aircraft and 217 aircraft dedicated to general aviation.

Aircraft with capacities ranging from 151 to 250 seats accounted for the largest share of the commercial fleet at 120 aircraft, while the sector continued to modernize its operations, with 99 aircraft less than five years old.

The Kingdom also expanded its global air connectivity during 2025, with Saudi airports linked to 66 countries worldwide, up 1.5% from a year earlier. The total number of domestic and international destinations connected to the Kingdom rose 2.3% to 176 destinations.

Saudi Arabia ranked 18th globally in the 2025 Air Connectivity Index, underscoring the sector’s growing international reach.

Saudia accounted for the largest share of flights operating in Saudi airspace at 25.5%, followed by low-cost carrier flynas at 13.3% and flyadeal at 8.6%.

Air cargo volumes handled through Saudi airports totaled 1.18 million metric tons in 2025, with imports accounting for the largest share at 695,600 tons. Transit cargo reached nearly 420,100 tons, while exports exceeded 69,700 tons.

March recorded the highest monthly cargo throughput of the year, with more than 113,400 tons handled during the month.

The Kingdom also continued to expand logistics infrastructure at its main airports to support cargo growth and broader supply chain ambitions. King Fahd International Airport operated nine cargo facilities, while King Khalid International Airport had eight facilities and King Abdulaziz International Airport operated four integrated cargo facilities.

The expansion forms part of Saudi Arabia’s strategy to position itself as a global logistics hub linking Asia, Africa and Europe.


Supertanker with Iraqi Oil Heads for Vietnam After Hold-up in US Blockade

Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the US-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. (Reuters)
Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the US-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. (Reuters)
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Supertanker with Iraqi Oil Heads for Vietnam After Hold-up in US Blockade

Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the US-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. (Reuters)
Tankers are seen off the coast of the Fujairah, as Iran vows to close the Strait of Hormuz, amid the US-Israel conflict with Iran, in Fujairah, United Arab Emirates, March 3, 2026. (Reuters)

Supertanker Agios Fanourios I is heading for Vietnam to discharge its Iraqi crude oil cargo after it was held by the US Navy for five days in the Gulf of Oman, the vessel's manager said on Monday.

The Maltese-flagged Very Large Crude Carrier sailed out of the Strait of Hormuz on May 10 and was sailing in the Gulf of Oman before making a ‌U-turn on ‌May 11.

It resumed its journey ‌toward ⁠Vietnam on May 16 ⁠and is expected to arrive at the Nghi Son refinery on May 30, LSEG shipping data showed.

A VLCC can carry a maximum of two million barrels of oil.

A source at the vessel's Athens-based manager Eastern Mediterranean Maritime, who spoke on condition of ⁠anonymity, confirmed that the tanker was sailing ‌on to Vietnam after ‌it had received US Navy approval.

The US military's Central Command ‌said last week that the vessel was redirected as ‌part of ongoing enforcement of the blockade against Iran.

At least two other crude tankers sailed from the strait last week, but overall crude traffic through the strait has ‌remained limited.

Before the war on Iran began, the Strait of Hormuz was the conduit ⁠for 20% ⁠of the world's energy supplies, equating to 125 to 140 daily passages.

"Shipping confidence around Hormuz is still very weak," ship broker Clarksons said in a note on Monday.

A further 12 ships crossed the strait in the past 24 hours, including two liquefied petroleum gas tankers bound for India, according to satellite analysis from data analytics specialists SynMax.

A separate LPG tanker was sailing through the strait on Monday also bound for India, data on the MarineTraffic platform showed.


Asian Markets Cautious, Oil Dips after Trump Holds Off on Iran Attack

Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman's northern Musandam Peninsula on May 17, 2026. AFP
Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman's northern Musandam Peninsula on May 17, 2026. AFP
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Asian Markets Cautious, Oil Dips after Trump Holds Off on Iran Attack

Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman's northern Musandam Peninsula on May 17, 2026. AFP
Vessels are seen anchored in the Strait of Hormuz, off the port city of Khasab on Oman's northern Musandam Peninsula on May 17, 2026. AFP

Asian markets were mixed Tuesday as oil prices eased on hopes of a US-Iran deal, though elevated crude levels capped investor appetite for risk.

Energy markets held center stage after US President Donald Trump signaled "serious negotiations" with Tehran and called off planned strikes, boosting optimism that tensions could.

The war the United States and Israel launched February 28 has led to an effective blockade of the Strait of Hormuz, through which around 20 percent of global oil exports passed in peacetime.

The leaders of Qatar, Saudi Arabia and the United Arab Emirates asked him "to hold off on our planned Military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place", Trump wrote on his Truth Social platform.

But Trump added that he instructed the US military to be "prepared to go forward with a full, large scale assault of Iran, on a moment's notice, in the event that an acceptable Deal is not reached".

Speaking later at a White House event, Trump said there had been a "very positive development" and that Arab allies said a deal was near that would leave Iran without nuclear weapons, which Tehran denies pursuing.

"There seems to be a very good chance that they can work something out. If we can do that without bombing the hell out of them, I'd be very happy," Trump said.

However, he also warned the United States was prepared to launch a "full, large-scale assault" if negotiations collapse, underscoring the fragility of the situation.

Oil dipped on the prospect of diplomacy, but the move offered only limited relief after weeks of volatility driven by the Middle East conflict.

International benchmark Brent was hovering around $109 while West Texas Intermediate at $107.

Equity performance wavered.

Tokyo's Nikkei 225 opened lower, with local jitters offset by local resilience. Japan's gross domestic product expanded 0.5 percent in the first quarter, exceeding market forecasts of 0.4 percent.

Seoul's Kospi slid by more than four percent, with tech stocks losing ground after taking their lead from Wall Street. Shanghai, Taipei and Jakarta also slid.

Hong Kong, Sydney and Wellington were ahead.

Safe-haven demand was higher, with both gold and silver edging up, suggesting investors remain wary.

All eyes are on Wednesday's quarterly results from US chip titan Nvidia, which will be scrutinized as investors question whether huge spending on AI data centers is justified by potential returns.