NIDLP Report: Saudi Arabia’s non-oil exports to exceed SR206 billion in 2023

Saudi Gazette Report

Saudi Arabia’s total non-oil exports are expected to rise to more than SAR 206 billion by 2023, according to the annual report of the National Industrial Development and Logistics Program (NIDLP).

By the end of 2023, 283 projects had been initiated under the program, of which 102 had been completed, representing 36%. The sectors covered by the program contributed over SAR 345 billion to the gross domestic product.

The program’s annual report is titled “Renewed Horizons.” The report highlights the program’s performance indicators, strategic goals, contribution to the macroeconomy, support for gross domestic product, and achievements related to the Kingdom’s Vision 2030 goals.

The report reveals a significant increase in the number of workers in the sectors covered by the program, reaching over 204,000, of which over 82,000 are Saudi men and women. This growth reflects the program’s commitment to local employment and its potential for further expansion.

The contribution of NIDLP to the overall economy and gross domestic product is significant, at over 35%. The growth rate of non-oil exports has reached an impressive 74%, underlining the impact of the program on the macroeconomy.

The report highlights several achievements across all sectors. In the energy sector, gas injection began at the Hawiyah Reservoir Processed Gas Storage Project in Unayzah, with a record storage capacity of 2.0 billion cubic feet of natural gas per day. In addition, six new solar power projects with a capacity of 6.2 gigawatts were launched to increase the share of renewable energy.

In the mining sector, the General Geological Survey program covered over 30% of the total area of ​​the Arab Shield in 2023.

In the industrial sector, four new special economic zones were launched, bringing the total number to five. Crown Prince Mohammed bin Salman announced the establishment of the National Automotive Company (CEER), the first automotive company in Saudi Arabia to produce electric vehicles. In addition, an agreement was signed with Lucid Motors to establish the first factory for the production of electric cars, and the Public Investment Fund signed an agreement with Hyundai Motor Company.

In the logistics industry, a significant achievement in 2023 was the launch of the Master Plan for Logistics Centers as part of the Kingdom’s transformation into a global logistics platform. This plan supports the Kingdom’s vision by taking advantage of its unique geographic location that connects three important continents.

The report also highlights many other achievements and success stories from individuals, executive agencies and private sector companies.

Founded in 2019, NIDLP aims to position the Kingdom as a leading industrial power and global logistics platform through four main sectors: energy, mining, industrial and logistics. Additionally, it focuses on the fourth industrial revolution and local content to maximize economic impact.