Total Non-Oil Commodity Exports between Saudi Arabia, GCC States Reach Over SAR9 Billion

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
TT
20

Total Non-Oil Commodity Exports between Saudi Arabia, GCC States Reach Over SAR9 Billion

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

The total non-oil commodity exports, including national exports and re-exports, between the Kingdom of Saudi Arabia and the Gulf Cooperation Council (GCC) states reached SAR9.469 billion in November 2024, reflecting an estimated annual growth of 43%, or an increase of SAR2.844 billion from SAR6.624 billion in the same period in 2023, while total commodity imports amounted to approximately SAR5.663 billion.

In November 2024, the Saudi non-oil trade balance recorded a surplus with the GCC states amounting to SAR3.718 billion, bringing the total to SAR3.805 billion.

This marks an annual growth estimated at 4,277.7% compared to the same period in 2023, when the surplus was SAR86.9 million, according to the preliminary data from the General Authority for Statistics' international trade report for November 2024.

The figures for non-oil commodity exports, including re-exports with GCC countries, show that the United Arab Emirates ranked first with a value of SAR7.176 billion, accounting for approximately 75.8% of the total. Bahrain followed in second place with SAR929.7 million, representing 9.8% of the total.

Kuwait secured third place with SAR610.4 million, with 6.4% of the total. Qatar came in fourth with a value of SAR395.8 million, making up 4.2% of the total, while Oman recorded SAR356.4 million, representing 3.8% of the total.



GASTAT: Saudi Economy Experienced Highest Quarterly Growth in 2 Years

The Saudi capital Riyadh. SPA
The Saudi capital Riyadh. SPA
TT
20

GASTAT: Saudi Economy Experienced Highest Quarterly Growth in 2 Years

The Saudi capital Riyadh. SPA
The Saudi capital Riyadh. SPA

The General Authority for Statistics (GASTAT) released on Sunday the GDP report and national accounts indicators for 2024 and the fourth quarter of 2024, showing a 1.3% growth in real GDP compared to the previous year, with non-oil and government activities increasing by 4.3% and 2.6%, respectively, while oil activities declined by 4.5%.
In terms of quarterly estimates, real GDP grew by 4.5% in the fourth quarter of 2024 compared to the same quarter of the previous year. This growth was attributed to positive performance across all economic sectors.

Non-oil activities increased by 4.7%, oil activities grew by 3.4%, and government activities rose by 2.2% year-on-year.
The GASTAT report also noted that seasonally adjusted real GDP in the fourth quarter of 2024 grew by 0.5% compared to the third quarter of 2024.