Saudi non-oil exports witnessed an improvement after they faced a major challenge in 2020 due to the pandemic and its impact on the global economy, as non-oil exports recorded the highest half-value in its history for the first half of 2021, with an estimated increase of 37%, achieving 125.3 billion riyals, and it had recorded In the first half of 2020, it amounted to 91.7 billion riyals.
It also recorded an 8% increase in quantities, equivalent to 34.7 million tons, for the first half of 2021. This indicates an improvement in the value and quantity of non-oil exports and their return to normal levels, and is expected to achieve 255 billion riyals by the end of this year.
It is noteworthy that the Kingdom exported during the first half to 170 countries around the world, and the United Arab Emirates was the highest export destination during the period, as the value of the Kingdom’s exports to the UAE amounted to 17 billion riyals, followed by China with a value of 16.8 billion riyals, then India with a value of 7.1 billion riyals.
In addition, the petrochemical sector achieved the highest value of exports, amounting to 73.6 billion riyals during the first half of this year, an estimated growth of 44%, compared to 51.2 billion riyals in the same period last year.
The Saudi Export Development Authority devotes its efforts towards improving the efficiency of the export environment, developing export capabilities, and promoting exporters and their products and services, by providing a variety of services, starting with building the capacity of exporters through training and evaluation, providing market reports and specialized goods, through supporting Saudi exporters with incentives and helping them find buyers. Through international exhibitions and trade missions, in order to raise the challenges related to the export environment that they face and work with the relevant authorities to provide appropriate solutions.
It should be noted that within the Kingdom’s Vision 2030, economic diversification is a key entry point towards achieving it, through several factors, including the contribution of non-oil sectors to the non-oil domestic product. The importance of the Saudi Export Development Authority and the role assigned to it as a body concerned with increasing Saudi non-oil exports and openness On the global markets, where the authority employs all its capabilities to contribute to raising the proportion of non-oil exports from 16% to at least 50% of the non-oil GDP, and to this end it takes many measures and initiatives that would make the Saudi product a strong competitor in international markets. and regional.