Saudi Non-Oil Exports Hit Record SAR 206 Billion In 2023, NIDLP Reveals

Non-oil commodity exports in Saudi Arabia surged to over SAR206 billion by 2023, as per the National Industrial Development and Logistics Program (NIDLP) annual report. The program initiated 283 projects, with 102 completed, accounting for 36%. NIDLP's sectors contributed more than SAR345 billion to the GDP. The number of workers in the program's sectors exceeded 204,000, including over 82,000 Saudi men and women.

The growth rate of non-oil exports reached an impressive 74%, highlighting NIDLP's impact on the macroeconomy. In the energy sector, gas injection began in the Hawiyah reservoir's processed gas storage project in Unayzah, boasting a record storage capacity of 2.0 billion cubic feet of natural gas per day. Additionally, six new solar energy projects with a capacity of 6.2 gigawatts were launched to increase renewable energy usage.

Image Courtesy: Getty Images/Unsplash

In the mining sector, the General Geological Survey program completed over 30% of the Arabian Shield's total area in 2023. The industrial sector saw four new special economic zones launched, bringing the total to five. Crown Prince Mohammed bin Salman announced the establishment of the National Automotive Company (CEER), Saudi Arabia's first electric vehicle-producing automotive company. An agreement was signed with Lucid Motors for an electric car production factory, and the Public Investment Fund signed an agreement with Hyundai Motor Company.

In the logistics sector, a significant achievement was launching the general plan for logistics centers as part of transforming the Kingdom into a global logistics platform. This plan supports Vision 2030 by leveraging its unique geographical location connecting three important continents.

Established in 2019, NIDLP aims to position Saudi Arabia as a leading industrial power and global logistics platform through four main sectors: energy, mining, industry, and logistics. It also focuses on local content and Fourth Industrial Revolution technologies to maximize economic impact.