GASTAT: Saudi Non-oil Exports Increased by 19.7% in November 2024https://english.aawsat.com/business/5104406-gastat-saudi-non-oil-exports-increased-197-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.
Saudi Energy Minister Signs MoUs on Energy Cooperation with Mongolia, Tanzania, Cyprus, and Mauritiushttps://english.aawsat.com/business/5328906-saudi-energy-minister-signs-mous-energy-cooperation-mongolia-tanzania-cyprus-and
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Cyprus’s Minister of Energy, Commerce and Industry Michael Damianos during the signing ceremony in Riyadh on Monday. (SPA)
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Saudi Energy Minister Signs MoUs on Energy Cooperation with Mongolia, Tanzania, Cyprus, and Mauritius
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Cyprus’s Minister of Energy, Commerce and Industry Michael Damianos during the signing ceremony in Riyadh on Monday. (SPA)
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz signed in Riyadh on Monday four memoranda of understanding with ministers from Mongolia, Tanzania, Cyprus and Mauritius to strengthen cooperation across a range of energy fields.
The MoUs were signed on the sidelines of the 25th WPC Energy Congress, hosted by Saudi Arabia through October 15 under the theme “Pathways to an Energy Future for All."
Prince Abdulaziz and Mongolia’s Deputy Prime Minister Togmid Dorjkhand signed an MoU to strengthen cooperation between the two countries in oil and gas and their derivatives, refining, petrochemicals, electricity, power interconnection, renewable energy, energy efficiency, energy storage, and technologies and solutions related to climate change mitigation, including Circular Carbon Economy solutions.
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Tanzania’s Minister for Energy Juma Zuberi Homera during the signing ceremony. (SPA)
The MoU covers cooperation in digital transformation, innovation, cybersecurity applications and artificial intelligence in the energy sector. It seeks to develop strategic partnerships between the two countries to secure materials, products and services across energy sectors and their supply chains and technologies; promote the development and use of sustainable petrochemical materials in construction and other sectors; strengthen cooperation between energy companies; and support them in implementing large-scale electricity projects and harnessing renewable energy in both countries.
Prince Abdulaziz signed an MoU with Tanzania’s Minister for Energy Juma Zuberi Homera to strengthen cooperation between the two countries in the supply of refined petroleum products and explore opportunities related to associated infrastructure, assess opportunities in liquefied natural gas, exchange technical expertise in oil and gas exploration, and explore opportunities in petrochemical production.
The MoU covers electricity, renewable energy, energy efficiency, and the exchange of technologies and solutions related to climate change mitigation, including clean cooking solutions and Circular Carbon Economy technologies and solutions. It further includes exploring opportunities related to the Oil Sustainability Program and transport and fuel infrastructure, as well as cooperation in digital transformation, innovation, cybersecurity applications and artificial intelligence in the energy sector.
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Mauritius’s Minister of Foreign Affairs, Regional Integration and International Trade Dhananjay Ramful during the signing ceremony. (SPA)
Prince Abdulaziz and Cyprus’s Minister of Energy, Commerce and Industry Michael Damianos signed an MoU establishing a framework for cooperation in oil and gas and their derivatives, refining, petrochemicals, electricity, clean hydrogen and its derivatives, renewable energy, energy efficiency, energy storage, and technologies and solutions related to climate change mitigation, including Circular Carbon Economy technologies and solutions.
The MoU covers cooperation in digital transformation and cybersecurity applications in the energy sector, as well as efforts to advance and support shared international policy priorities through relevant multilateral negotiations, including under the United Nations Framework Convention on Climate Change, the Paris Agreement and the international legally binding instrument on plastic pollution.
It further provides for cooperation on the development and use of sustainable petrochemical materials in construction and other sectors, the development of appropriate infrastructure to expand energy access, and cooperation between companies operating in energy-related fields.
Saudi Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and Mongolia’s Deputy Prime Minister Togmid Dorjkhand. (SPA)
Prince Abdulaziz signed an MoU with Mauritius’s Minister of Foreign Affairs, Regional Integration and International Trade Dhananjay Ramful covering cooperation in oil and gas and their derivatives, refining, petrochemicals, electricity, clean hydrogen and its derivatives, renewable energy, energy efficiency, energy storage, and technologies and solutions related to climate change mitigation, including Circular Carbon Economy technologies and solutions.
The MoU also covers cooperation in digital transformation and cybersecurity applications in the energy sector.
It provides for efforts to advance and support shared international policy priorities through relevant multilateral negotiations, including under the United Nations Framework Convention on Climate Change, the Paris Agreement and the international legally binding instrument on plastic pollution.
It covers cooperation on the development and use of sustainable petrochemical materials in construction and other sectors, as well as the development of appropriate infrastructure to expand energy access.
Minister of Finance Leads Saudi Delegation to 2026 IMF-World Bank Annual Meetingshttps://english.aawsat.com/business/5328905-minister-finance-leads-saudi-delegation-2026-imf-world-bank-annual-meetings
Saudi Minister of Finance Mohammed Aljadaan. (SPA file)
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Minister of Finance Leads Saudi Delegation to 2026 IMF-World Bank Annual Meetings
Saudi Minister of Finance Mohammed Aljadaan. (SPA file)
Minister of Finance Mohammed Aljadaan is leading Saudi Arabia's delegation to the 2026 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) in Bangkok from October 12-17.
The Saudi delegation includes Governor of the Saudi Central Bank (SAMA) Ayman Alsayari; Deputy Chair of the International Monetary and Financial Committee (IMFC) Dr. Ryadh Alkhareif; Deputy Minister of Finance for International Relations Khalid Bawazier; CEO of the Saudi Fund for Development (SFD) Sultan Almarshad; CEO of the National Debt Management Center (NDMC) Hani Almedaini; and experts from the Ministry of Finance, SAMA, SFD, NDMC, and the Zakat, Tax and Customs Authority (ZATCA).
Aljadaan will participate in the IMF and Gulf Cooperation Council (GCC) High-Level Seminar; the IMF Managing Director's meeting with the Middle East, North Africa, Afghanistan and Pakistan; and the Arab Governors' meeting with the President of the WBG.
Aljadaan and Alsayari will participate in the Third G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting, held under the US Presidency. Discussions will focus on key developments in the global economy, emerging challenges, and ways to strengthen international economic cooperation.
Aljadaan will chair the IMFC meeting, where members will exchange views on developments in the global economy, including growth prospects and emerging risks. Discussions will cover global economic policy priorities and the IMF's role in addressing these challenges through financial assistance, advice, and capacity development for its members.
He will also take part in the WBG Governor's Development Committee meeting to discuss the latest updates in the WBG's development strategies, including its role in helping to create jobs as a key economic driver, enabling the private sector, and supporting countries in reforming policies that attract investments and promote economic growth.
The Annual Meetings serve as a global platform that brings together finance ministers, central bankers, senior officials from international organizations, private sector executives, representatives from civil society organizations, and academics to discuss global issues, including the global economy, sustainable development, poverty eradication, and other economic and financial topics.
Saudi Energy Ministry Signs MoU with IEF; Oil Sustainability Program Signs Agreement with US Foundationhttps://english.aawsat.com/business/5328900-saudi-energy-ministry-signs-mou-ief-oil-sustainability-program-signs-agreement-us
Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz at the signing ceremony between the ministry and International Energy Forum. (SPA)
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Saudi Energy Ministry Signs MoU with IEF; Oil Sustainability Program Signs Agreement with US Foundation
Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz at the signing ceremony between the ministry and International Energy Forum. (SPA)
Saudi Arabia’s Ministry of Energy signed on Monday a memorandum of understanding (MoU) with the International Energy Forum (IEF) to strengthen cooperation across the energy sector.
The signing was held on the sidelines of the 25th WPC Energy Congress, hosted by the Kingdom through October 15 as part of Energy Week in Riyadh, and in the presence of Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz.
The Oil Sustainability Program (OSP) also signed an MoU with Sierra Leone’s Ministry of Energy on sustainable energy access and an agreement with the US Bettering Human Lives Foundation to provide clean cooking solutions using liquefied petroleum gas (LPG).
Prince Abdulaziz witnessed the signing of the MoU between the Ministry of Energy and the IEF. The ministry was represented by Director General of the General Department for Clean Hydrocarbon Technologies Support Faisal Al-Mousa, while the IEF was represented by Secretary General Jassim Al-Shirawi.
The MoU establishes a framework for cooperation across energy-related fields, including the advancement of sustainable practices in clean energy and related technologies, cooperation on climate change mitigation, and the application of the Circular Carbon Economy (CCE) approach and the Regional CCE Cooperation Initiative. It also covers cooperation on climate-related outreach at the regional and international levels.
Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz at the signing ceremony between the Oil Sustainability Program and the US Bettering Human Lives Foundation. (SPA)
The cooperation will further strengthen the IEF’s engagement with the Regional CCE Cooperation Initiative, sustain dialogue and build on relevant research, including the IEF report “Empowering Sustainable Futures: MENA NDCs Climate Action”, which reviews progress on nationally determined contributions and provides a comprehensive regional perspective on climate action in the Middle East and North Africa.
Prince Abdulaziz witnessed the signing of an MoU on sustainable energy access between the Oil Sustainability Program and the Ministry of Energy of the Republic of Sierra Leone. The MoU was signed by OSP Chief Executive Officer Mohammed Al-Tayyar and Sierra Leone Deputy Minister of Energy Abdul Rahim Jalloh.
The MoU establishes a framework for cooperation on sustainable initiatives and practices, including exploring opportunities for renewable energy projects, promoting the development of hydrocarbon-based solutions for transport infrastructure and fuels, and expanding access to clean cooking.
The cooperation also includes developing and implementing integrated plans to expand access to clean cooking energy, including LPG and renewable energy solutions, and raising awareness of the role of clean cooking in advancing the Sustainable Development Goals.
Minister of Energy and Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz at the signing ceremony between the Oil Sustainability Program (OSP) and Sierra Leone’s Ministry of Energy. (SPA)
It aims to strengthen international cooperation and facilitate increased investment in clean cooking fuels, technologies and related value chains. The two sides will also cooperate to facilitate household access to clean cooking solutions in Sierra Leone, including electricity support, energy-efficiency certificates, LPG and other cooking solutions, through a collaborative partnership.
Prince Abdulaziz witnessed the signing of an agreement between the Oil Sustainability Program and the US Bettering Human Lives Foundation to provide clean cooking solutions using LPG. The agreement was signed by OSP Chief Executive Officer Mohammed Al-Tayyar and the foundation’s Executive Director Anne Hyre.
The agreement aims to strengthen cooperation between the two sides and explore opportunities to develop a strategic partnership by aligning priorities and examining potential frameworks for implementing the initiative in a manner that serves their mutual interests.
It covers opportunities to develop integrated projects supporting the growth of the LPG market, community-based initiatives led by women, and efforts to promote safety awareness and build trust to encourage the adoption and sustained use of clean fuels.
Areas of cooperation include identifying opportunities to expand the LPG ecosystem, exchanging knowledge and expertise, assessing solutions suited to end users and target communities, and raising awareness of the initiative. The agreement provides for engagement with local and international regulatory perspectives through studies, workshops, roundtables, seminars and multilateral conferences.
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