Saudi Arabia’s non-oil exports have reached a record high of 515 billion riyals (approximately $137.29 billion) in 2024.

According to the Saudi Press Agency (SPA), this achievement is part of Saudi Arabia’s continuous efforts to reduce its economy’s dependence on oil.

A Strong Move Towards Economic Diversification

Saudi Arabia is actively working to diversify its economy under its Vision 2030 plan.
The significant rise in non-oil exports shows that the Kingdom is steadily moving towards a more balanced and sustainable economy.

• In 2024, non-oil exports increased by 13% compared to the previous year.

• Since the launch of Vision 2030, non-oil exports have grown by over 113% — a major achievement.

This growth reflects the country’s commitment to developing sectors such as manufacturing, mining, tourism, and technology.

Foreign Direct Investment Also on the Rise

In addition to the growth in exports, Saudi Arabia attracted 77.6 billion riyals (around $20.69 billion) in foreign direct investment (FDI) in 2024.
This investment is a key part of Saudi Arabia’s broader economic plan.

The Kingdom has set a bold target:

• $100 billion in foreign direct investment annually by the end of the decade.

The continuous increase in FDI shows growing international confidence in Saudi Arabia’s market reforms and future plans.

Vision 2030: Transforming Saudi Arabia’s Future

Vision 2030 is a long-term strategy launched by Crown Prince Mohammed bin Salman.
Its goal is to reduce the country’s reliance on oil, modernize the economy, and develop public sectors such as health, education, infrastructure, recreation, and tourism.

Saudi Arabia’s recent achievements in exports and investment are major steps toward fulfilling this ambitious vision.