From addiction to the oil situation, which almost led to something like disrupting development, due to the economy’s dependence on a single source of income, to a diversified economy based on multiple resources, incomes, and sectors, Saudi Arabia launched Vision 2030, led by the godfather of the vision, Crown Prince and Prime Minister Prince Muhammad bin Salman. , to achieving distinguished global levels in all sectors, especially the non-oil sector, despite the tightening of financial policies and the rise in inflation rates in the global economy, while some international institutions expect the global economy to grow at the slowest pace since the eighties during the new year.
According to statistics, Saudi Arabia's non-oil exports during January of this year amounted to 22.98 billion riyals (equivalent to $6.13 billion), constituting about 22% of the Kingdom's total exports for that period. And because the size of the achievement is increasing, the Saudi Achievements Report 2030 with regard to financial sustainability revealed that Saudi Arabia’s efforts in this regard resulted in the return of the economy to levels before the Corona pandemic in 2021, and the real gross product achieved positive growth by 3.2% during the previous year, and non-oil activities achieved A growth of 6.1% compared to the previous year.
The report said: “The initiatives implemented to develop non-oil revenues contributed to reducing dependence on oil revenues as a primary source, as its contribution to the total increased from 27% in 2015 to about 42% in 2021; That is, an annual average increase of 18%, and revenues have become more linked to the growth and diversification of economic activity. According to the report, the initiatives contributed to non-oil commodity exports reaching 274.9 billion riyals ($73 billion) during 2021, a growth of 37% over its counterpart in the previous year, and the value of re-exports amounted to about 44 billion riyals ($11.7 billion), with an estimated growth of 23%. percent from the previous year, in addition to the debt instruments market being deepened by managing debt instruments worth 52.9 billion riyals ($14.1 billion) as a new category with a value of 55.8 billion riyals ($14.8 billion) from a category previously issued in 2021.
The report of the Kingdom’s Vision 2030 achievements revealed the launch of more than 200 projects in 74 countries to support the export of Saudi national products, through the international bidding service that identifies projects and opportunities that are compatible with the activities of exporters.
reach
22.98 billion riyals during January 2023
Sector
non-oil »
Taher Al-Husari (Jeddah) @taher_ibrahim0
