Saudi Non-Oil Exports Exceed 128 Billion Riyals
Saudi Non-oil exports to the African continent during the past five years (2019 – until November 2023) recorded more than 128 billion Saudi riyals.
KSA plays a major role in the global trade arena. The role coincides with the global economic growth and the expansion of international cooperation. In addition, it enables KSA to advance its economic status to broader horizons.
As a result, the African market, which is the focus of attention, represents a significant location on the map of Saudi Arabia’s non-oil exports due to the presence of potential trade relations and obvious economic prospects.
KSA-Africa Relationship
The strategic, commercial and economic relations between the Kingdom and Africa are deep-rooted and strong. The Kingdom is the largest economy in the Middle East and North Africa.
In 2022, reports showed that KSA was the fastest-growing G20 economy. Africa is considered as the second-most populous and largest continent in the world. Its economy valued at over $3 trillion. So, to guarantee progress and prosperity for all, the KSA and the African Union’s member nations work to fortify and expand their relationship.
As a result, Saudi Export Development Authority has adopted a more serious approach to Africa in order to meet the demands of its various markets. Also, the authority gives careful consideration to all aspects of its work in an attempt to strengthen economic ties.
Non-Oil Exports
It is noteworthy that “Saudi Exports Development Authority” puts its efforts and harnesses all its capabilities to deliver national products and services to African markets. The Authority strives to increase the volume of non-oil exports to the African continent. This also includes organizing a number of trade missions to a group of African countries.
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