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Saudi Arabia Witnesses 78% in Commercial Records

Figures from the Saudi Ministry of Commerce showed a 78% increase in the total commercial records in Saudi Arabia issued in the second quarter of 2024, compared to the same quarter of last year, reported Al Arabiya.

The Saudi expert in international trade, Fawaz, confirmed that these numbers came with a strong boost from the growth of Saudi Arabia’s domestic and international trade activity during the past period.

Fawaz added in an interview with Al Arabiya Business that this activity affected the Kingdom’s ranking, as it ranked first in the World Trade Index, according to the World Trade Organization report. He indicated that the Kingdom’s strategic partnerships with friendly countries are behind the strong growth of exports.

The expert added that the Saudi trade transformation steps are in line with the global trend, to attract local and global investment to build a strong economy.

The Saudi Ministry of Commerce stated that the number of commercial records issued in the first quarter reached 121 thousand records, bringing the total number of commercial records to more than one million and 518 thousand commercial records in all regions of the Kingdom.

Commercial registrations for e-commerce also increased by 17%, exceeding 40,000 commercial registrations for e-commerce, by the end of the second quarter of 2024.

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