Saudi Arabia’s Trade with Arab League Nations Hits SR87.7 Billion in Q4 2024, Led by Strong GCC Ties
Riyadh, The Gulf Observer: Saudi Arabia’s trade with Arab League countries, including members of the Gulf Cooperation Council (GCC), surged to approximately SR87.7 billion in the fourth quarter of 2024, accounting for 17.2% of the Kingdom’s total global trade, which stood at SR510.9 billion, according to the latest data from the General Authority for Statistics.
This marks an annual growth of 6.2%, a gain of over SR5 billion compared to SR82.6 billion recorded during the same period in 2023.
Trade Surplus Grows Over 37%
Saudi Arabia’s trade surplus with Arab League nations reached SR30.46 billion in Q4 2024, a significant jump from the SR22.18 billion recorded a year earlier. The 37.3% year-on-year growth in surplus reflects a robust increase of over SR8.27 billion, as reported by the Saudi Press Agency (SPA).
Export Performance
Total exports to Arab League countries amounted to SR59.11 billion, of which:
- SR39.5 billion were directed to GCC member states, representing 14.2% of the Kingdom’s total global exports (SR277.9 billion).
- SR19.6 billion were exported to other Arab League countries outside the GCC, making up 7.1% of total exports.
Imports Breakdown
Imports from Arab League nations totaled SR28.65 billion, or 12.3% of Saudi Arabia’s total global imports (SR233.04 billion). This included:
- SR18.35 billion from GCC countries
- SR10.3 billion from other Arab League member states
Top Arab Trade Partners
The United Arab Emirates remained Saudi Arabia’s largest Arab export destination in Q4 2024, receiving goods worth over SR23.51 billion. Other major partners included:
- Bahrain: SR8.42 billion
- Egypt: SR8.35 billion
- Oman: SR4.43 billion
- Jordan: SR2.99 billion
The data highlights the Kingdom’s ongoing efforts to strengthen regional economic integration, especially within the GCC, as part of its broader Vision 2030 diversification strategy.
