Trade between Kingdom and Arab League countries grows by 6.2% in fourth quarter of 2024, reaching a value of 87.6 billion riyals

The quarterly international trade report for the fourth quarter of 2024, released by the General Authority for Statistics, revealed that the total volume of trade between the Kingdom of Saudi Arabia and Arab League countries, including the Gulf Cooperation Council (GCC) countries, reached approximately 87,768 billion Saudi riyals. This trade accounted for about 17.2% of the Kingdom’s total trade with the rest of the world which amounted to about 510,974 billion Saudi riyals. This represented an annual growth rate of 6.2%, with an increase of over 5 billion riyals compared to the same period in 2023.

The report also indicated that the Kingdom had a trade surplus with Arab League countries, including the GCC, of over 30,461 billion riyals in the fourth quarter of 2024, compared to a surplus of about 22,185 billion riyals in the same period in 2023. This reflected an annual growth rate of 37.3%, with an increase of over 8,276 billion riyals.

Looking at the total exports of the Kingdom, they amounted to about 59,114 billion riyals, with 39,507 billion riyals going to the GCC countries, representing approximately 14.2% of the Kingdom’s total exports to the world which amounted to about 277,932 billion riyals.

On the other hand, the Kingdom’s exports to Arab League countries excluding the GCC reached 19,607 billion riyals, accounting for about 7.1% of the Kingdom’s total exports to the world.

In contrast, the Kingdom’s total imports from Arab League countries, including the GCC, amounted to about 28,653 billion riyals, with 18,354 billion riyals coming from the GCC countries, and imports from the Arab League countries totaling 10,298 billion riyals. The total imports of the Kingdom from all countries outside reached 233,042 billion riyals.

The top country to which the Kingdom exported during the fourth quarter of 2024 was the United Arab Emirates with a value exceeding 23,512 billion riyals. Second was the Kingdom of Bahrain with a value exceeding 8,423 billion riyals, third was the Arab Republic of Egypt with a value of 8,353 billion riyals, fourth was the Sultanate of Oman with a value exceeding 4,434 billion riyals, and fifth was the Hashemite Kingdom of Jordan with a value exceeding 2,999 billion riyals.