Saudi Non-oil Exports to China Exceed SR176 Billion in 5 Years

The General Authority for Statistics (GASTAT) stated that China is the first destination for Saudi exports, with 15% of the total exports, according to the international trade report for the first quarter of 2024, reported the Saudi Press Agency (SPA).

Saudi non-oil exports to China witnessed significant growth from 2019 to 2023 exceeding SR176 billion, with chemicals, polymers and metals topping the list of exports.

As a result, the Saudi Export Development Authority (Saudi Exports) has embarked on a large series of projects and initiatives to boost the access of Saudi exports to the Chinese market.

These projects revolved around fostering the bilateral economic cooperation, developing Saudi non-oil exports, and increasing the Saudi presence in the Chinese markets.

Furthermore, Saudi Arabia has been keen on participating in numerous international exhibitions in China paving the way for Saudi exporters to display their products and services and sign commercial deals with Chinese investors.

Transport and logistics sector represents one of the major components of the Saudi exports sector and plays a pivotal role in increasing non-oil exports.

The export of services to China recorded their best performance in 2023, compared to previous years, with 40% increase over the previous year, rising to SR182 billion, according to the GASTAT.

This notable increase was driven by the recovery of the travel sector that recorded a hike of 43%.

The travel sector represents 74% of the total services, with SR135 billion, followed by the transport sector, whose exports rose to SR24.2 billion, and then exports of communications services, with a value of SR6.3 billion.

Related Topics:

Saudi Arabia’s Non-oil Activities Rise by 3.4% in Q1 2024

Non-Oil Revenues Reach SAR 111.512 bln in Q1 2024

Saudi Non-Oil Exports Increase by 4.4% Last February


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