NIDLP sectors contributed 39% of our non-oil GDP: The National Industrial Development and Logistics Program’s (NIDLP) sectors added SAR 986 bn to the Kingdom’s GDP in 2024, representing 39% of the non-oil GDP, according to the program’s latest report (pdf). The non-oil sector accounted for about 55% of the Kingdom’s real GDP during the year.

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The breakdown: Non-oil exports climbed 13.2% y-o-y to SAR 514 bn last year, backed by a record 42% increase in re-exports to SAR 90 bn, a 14% rise in exported services to SAR 207 bn, and a 4% increment in exported goods to SAR 217 bn. Exports of machinery and electrical equipment saw the largest y-o-y growth at 81%, recording SAR 42.9 bn, while exports of chemical products made the largest contribution at SAR 78.5 bn, despite a 2% y-o-y dip in growth.

More jobs came in: The NIDLP supported the creation of over 508k jobs, pushing total employment across NIDLP sectors to 2.4 mn and integrating some 81k Saudis — 42k men and 39k women — into the labor force.

ALSO- Industrial cities and special zones received a cumulative of SAR 1.4 tn in government investments last year, with the program also pulling in some SAR 665 bn in private investments. The Saudi Industrial Development Fund approved SAR 198 bn in cumulative loans by the end of 2024, while the Saudi Export-Import Bank (Saudi Exim) extended SAR 69.1 bn in cumulative credit over the same period.

ICYMI- Investments in sectors under the NIDLP were projected to hit SAR 600 bn by the end of2024, up from SAR 524 bn a year earlier, with aspirations to reach SAR 1 tn by 2030.

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