Saudi Re-exports Reach SAR61 Billion, Up 23% in 2024

Minister of Industry and Mineral Resources, Bandar Alkhorayef, confirmed that Saudi re-export reached SAR 61 billion in 2024, marking a 23% growth compared to the previous year.

This growth, the minister said, is attributed to strong infrastructure, the rapid development of logistics services in Saudi Arabia, and the harmonious, integrated efforts of all government entities.

This statement came during his participation in the opening panel of the 6th Supply Chain and Logistics Conference held in Riyadh, titled “The Role of Logistics Prosperity in Enhancing Supply Chain Sector in the Kingdom and Achieving Global Competitiveness through Vision 2030 Pillars”.

Minister Alkhorayef indicated that the development of the logistics sector and the strength of supply chains are key enablers for enhancing the competitiveness of Saudi industry, improving access to global markets for national products, reducing costs for industrial investors, and attracting high-quality investments to the country.

Alkhorayef also pointed out that global challenges in recent years present promising opportunities for Saudi Arabia to build major logistics hubs that enhance the connectivity and strength of supply chains.

He added that this can be achieved by leveraging the nation’s strategic assets. These include its unique geographic location connecting three continents to global markets, natural resources, abundant energy sources at competitive prices, and technological advancement. Saudi Arabia is one of the largest investors in digital infrastructure.

Alkhorayef stated that Saudi Arabia has become an attractive destination for investments from major global companies seeking to benefit from the competitive advantages of the Saudi investment environment.

He noted this includes attracting high-quality investments in sectors such as automotive, shipping, food, pharmaceuticals, and daily consumer products.

Industrial investors’ plans, he indicated, go beyond meeting domestic demand. They aim for Saudi Arabia to serve as a key hub for exporting to regional and international markets.

The minister also emphasized the importance of advanced infrastructure and logistics services in enhancing the Saudi mining sector and creating added value.

He pointed out that the logistical connection between Wa’ad Al-Shamal, Ras Al-Khair, and Jubail Industrial City has contributed to the development of both the industrial and mining sectors.

As a result, exports of the Saudi Mining Company “Ma’aden” reached SAR 7 billion, and the Kingdom became the fourth-largest exporter of phosphate globally, the minister said.

He also noted that Jubail Industrial City’s production of petrochemicals accounts for 6% of global production. The minister said, “Although the period since the launch of the comprehensive strategy for mining has been short, the Kingdom has already established a prominent position in the global mining sector. The International Mining Conference, which will kick off its new session in January, has become the most important mining event, bringing together stakeholders from around the world to discuss the key challenges and opportunities in the sector.”