Economic Diversification Boosts Saudi Non-Oil Exports to Record Levels

KSA, 28 April, 2025 : Saudi Arabia’s non-oil exports hit a record 515 billion riyals ($137.29 billion) in 2024, according to the state news agency SPA, marking a 13% increase year-on-year and a 113% rise since the launch of Vision 2030.

The surge reflects the kingdom’s ongoing efforts to diversify its economy beyond oil through investments in infrastructure, tourism, sports, and manufacturing. Abdulrahman Althukair, CEO of the Saudi Export Development Authority, credited the growth to "sustained efforts in economic diversification."

The report comes alongside the release of Saudi Arabia’s 2024 Vision 2030 annual report, which highlighted foreign direct investment inflows of 77.6 billion riyals ($20.69 billion). The kingdom aims to reach $100 billion in annual FDI by 2030.