Saudi Gazette report
RIYADH — The Nationwide Industrial Improvement and Logistics Program (NIDLP) contributed 39% to Saudi Arabia’s non-oil GDP in 2024, amounting to SR986 billion, up from SR949 billion in 2023, in accordance with this system’s annual report.
Non-oil exports surged to SR514 billion final 12 months, marking a 13.2% enhance from 2023. This included SR217 billion in non-oil commodity exports (up 4%), SR91 billion in re-exports (up 42%), and SR207 billion in service exports (up 14%).
The highest-performing export sectors included chemical substances (SR78.5 billion), metals and merchandise (SR23.3 billion), meals and drinks (SR10.5 billion), and electrical tools (SR42.9 billion).
The labor market confirmed sturdy momentum, with complete employment throughout NIDLP sectors reaching 2.433 million staff in 2024.
The report highlighted the creation of over 508,000 new jobs throughout the 12 months, together with 81,000 jobs for Saudis, 42,000 males and 39,000 girls.
Key employment contributors have been the manufacturing, mining and quarrying, electrical energy and fuel, and transport and storage sectors.
Non-public sector investments throughout NIDLP sectors reached SR665 billion in 2024. The Saudi Industrial Improvement Fund accredited SR198 billion in cumulative loans, whereas the Saudi EXIM Financial institution supplied SR69.14 billion in credit score services.
The entire variety of industrial institutions reached 12,589, with 1,511 ready-built factories. Cumulative non-public investments in industrial cities and particular financial zones hit SR1.4 trillion.
Native protection corporations recorded SR34.32 billion in cumulative army gross sales. The nationwide industrial technique continues to deal with localizing worth chains in future-facing industries, together with medical provides, automotive manufacturing, and petrochemical-related applied sciences.
NIDLP oversaw the launch of renewable vitality initiatives totaling 20 GW in capability, together with 3.7 GW in new photo voltaic agreements and three.6 GW of newly operational capability.
The Kingdom recorded the bottom world wind vitality value at 5.87 halalas/kWh. These initiatives lowered carbon emissions by roughly 1.7 million tons yearly.
Mineral exploration spending reached SR228 per sq. kilometer, with a 380% enhance in mining websites supplied for aggressive bidding.
The mining sector goals to contribute SR176 billion to GDP by 2030 and create 219,000 jobs. Saudi Arabia was ranked the second-best globally for mining licensing setting.
The logistics sector continued to advance, issuing 1,056 licenses. The variety of export logistics facilities rose to 23, up from simply 2 in 2019.
Port utilization improved to 64%, up from a baseline of fifty.2%, whereas customs clearance time dropped to only two hours. Port container throughput reached 7.5 million TEUs.
This system surpassed a number of Imaginative and prescient 2030 benchmarks. Army trade localization reached 19.35%, exceeding the 12.5% goal and up from a 7.7% baseline. Native content material in non-oil sectors reached SR1.23 trillion, forward of the SR1.11 trillion objective.
Licenses for rising industries totaled 3,107—far above the 845-license goal and 169-license baseline. Exports from these sectors hit SR135.6 billion cumulatively, exceeding the SR98.7 billion goal and an SR18.6 billion baseline.
The variety of re-export logistics facilities reached 23, outpacing the 16-center objective.
By the tip of 2024, the NIDLP portfolio included 284 initiatives, with 163 accomplished, representing a 57% execution price.