Ashraf AboArafe
Reflecting an ambitious vision that has reshaped the future of the economy, the Kingdom of Saudi Arabia is emerging as an economic power beyond expectations, adopting Saudi Vision 2030 as an exceptional roadmap to drive economic transformation toward unprecedented horizons.
Thanks to its unique geographical location, which has made it a vital bridge connecting three continents, the Kingdom has strengthened its position as a global center for trade and investment, supported by advanced infrastructure and economic policies that encourage innovation and promote diversification.
The Kingdom is currently experiencing rapid growth, reflecting the success of its economic diversification plans. Efforts to boost non-oil exports and build strategic partnerships with countries around the world are translating into record numbers.
As part of the Kingdom’s economic growth, total trade volume between the Kingdom and Arab League countries, including the Gulf Cooperation Council (GCC), reached approximately SAR 87.768 billion during the fourth quarter of 2024, according to country groups. This trade represents approximately 17.2% of the Kingdom’s total trade with all countries worldwide, amounting to approximately SAR 510.974 billion. This represents an annual growth rate of 6.2%, representing an increase of more than SAR 5 billion, compared to the same period in 2023, which amounted to approximately SAR 82.679 billion. According to the quarterly International Trade Bulletin for the fourth quarter of 2024 issued by the General Authority for Statistics, the Kingdom’s trade surplus with Arab League countries, including the Gulf Cooperation Council (GCC), exceeded SAR 30.461 billion during the fourth quarter of 2024, compared to a surplus of approximately SAR 22.185 billion during the same period in 2023. This represents an annual growth of 37.3%, with a value exceeding SAR 8.276 billion.
Considering the Kingdom’s total exports, they amounted to approximately SAR 59.114 billion, of which SAR 39.507 billion were to the Gulf Cooperation Council (GCC) countries, representing approximately 14.2% of the Kingdom’s total exports to all countries worldwide, which amounted to approximately SAR 277.932 billion.
While the Kingdom’s exports to Arab League countries—excluding the Gulf Cooperation Council (GCC) countries—reached SAR 19.607 billion, representing approximately 7.1% of the Kingdom’s total exports to all countries worldwide.
Conversely, the Kingdom’s total imports from Arab League countries, including the Gulf Cooperation Council (GCC), amounted to approximately SAR 28.653 billion, representing approximately 12.3%. Of these, SAR 18.354 billion came from the GCC countries, and SAR 10.298 billion came from the Arab League. It should be noted that the Kingdom’s total imports from all countries abroad amounted to SAR 233.042 billion.
The Kingdom’s exports to the United Arab Emirates topped the list of Arab countries it exports to during the fourth quarter of 2024, with a value exceeding 23.512 billion riyals. The Kingdom of Bahrain came in second place with a value exceeding 8.423 billion riyals, followed by the Arab Republic of Egypt with a value of 8.353 billion riyals, the Sultanate of Oman with a value exceeding 4.434 billion riyals, and the Hashemite Kingdom of Jordan with a value exceeding 2.999 billion riyals.
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