Saudi Non-Oil Exports to Africa Exceed SR128 Billion in Last Five Years
Riyadh, The Gulf Observer: In a significant milestone for the Kingdom’s trade expansion, Saudi non-oil exports to the African continent have surpassed SR128 billion over the last five years (2019-2023), according to a report by the Saudi Press Agency (SPA).
The chemicals and polymers sector emerged as the leading contributor to non-oil exports, with an impressive contribution exceeding SR83 billion. Following closely were the construction materials sector at over SR10 billion and the packaging sector at more than SR9 billion. Polypropylene, polyethylene, and fertilizers were among the primary exported products, highlighting the diverse range of goods flowing from the Kingdom to Africa. Key importers of Saudi products included Egypt, Algeria, South Africa, Morocco, Sudan, Kenya, and Nigeria, reflecting robust trade engagement with 55 African countries.
The Saudi Exports Development Authority (Saudi Exports) played a crucial role in facilitating these trade flows, focusing on meeting the varied market demands and future aspirations of the African continent. Through the organization of trade missions and active participation in international exhibitions across Africa, Saudi Exports aims to further expand the reach of Saudi products and services. Upcoming participations include the African Food Exhibition 2024, the International Exhibition for Processing and Packaging in the Middle East and Africa 2024 in Egypt, Buildexpo Africa — Kenya 2024, and Gitex Africa in Morocco, providing platforms for Saudi exporters to showcase their offerings and forge new commercial partnerships.
To enhance exporter readiness, Saudi Exports provides comprehensive support through information dissemination, market studies, and facilitating access to new markets. Specialized workshops and training sessions, such as “Empowering Exports in Pakistan, South Africa, Ethiopia, Kenya, and Nigeria” and “Empowering Exports in North African Countries: Egypt, Morocco, Algeria, and Tunisia,” were conducted to develop exporter capabilities. The authority has addressed over 270 challenges faced by exporters, underscoring its commitment to smoothing the path for Saudi exports to Africa.
The efforts culminated in the Saudi-African Summit held in Riyadh on November 10, 2023, where the Kingdom and African countries emphasized their strategic relations. The summit resulted in a comprehensive investment package worth $25 billion to spur investments across the African continent, complemented by export financing and insurance worth $10 billion and development funding of $5 billion over six years. The summit witnessed the signing of over 50 agreements and MoUs valued at over $500 million, laying a solid foundation for future collaboration and trade expansion between Saudi Arabia and Africa.
