The annual performance report of the National Industrial Development and Logistics Program (NIDLP) in Saudi Arabia showed that the program’s contribution to the Kingdom’s non-oil GDP reached approximately SAR 986 billion ($262.8 billion) in 2024, representing 39% of the total.
This figure represents an increase compared to SAR 949 billion in 2023 and confirms the program’s pivotal role in achieving the goals of Vision 2030, which aims to diversify the economy away from oil.
The report recorded significant progress in the program’s strategic sectors—industry, mining, energy, and logistics—describing this as a “qualitative transformation” in the national economy. The contribution of non-oil activities to GDP reached 55%, with the manufacturing sector growing by 4%, and the mining and transportation and storage sectors growing by 5% each.
Total non-oil exports reached SAR 514 billion, a 13.2% annual increase. SAR 217 billion of these exports were non-oil goods (up 4%), while re-exports jumped 42% to SAR 90 billion. Services exports rose 14% to SAR 207 billion. Chemicals topped the export categories with SAR 78.5 billion, followed by electrical equipment, metals and metal products, and food and beverages.
In the labor market, the number of employees in the program sectors exceeded 2.43 million by the end of 2024, including more than 508,000 new jobs, including more than 81,000 jobs for Saudis (42,000 for men and 39,000 for women). The most prominent job-generating sectors included industry, mining, electricity and gas, and logistics.
Private sector investments in the program sectors amounted to SAR 665 billion. The Saudi Industrial Development Fund approved cumulative loans worth SAR 198 billion, while export facilities granted by the Saudi Export-Import Bank amounted to SAR 69.14 billion.
Industrial activities witnessed significant expansion, with the number of industrial facilities reaching 12,589 by the end of the year, including 1,511 ready-built factories. Cumulative private sector investments in industrial cities and special economic zones amounted to SAR 1.41 trillion.
In the field of renewable energy, the total capacity of announced projects in 2024 reached approximately 20 gigawatts, including 3.7 gigawatts of agreements for new solar projects and 3.6 gigawatts for projects that entered commercial operation. The Kingdom also achieved the lowest global cost of wind energy recorded at 5.87 halalas per kilowatt-hour, contributing to a reduction of approximately 1.7 million tons of carbon emissions annually.
In the mining sector, competitive sites increased by 380%, and exploratory spending reached SAR 228 per square kilometer. The sector aims to contribute SAR 176 billion and create 219,000 jobs by 2030.
The report emphasized that the program contributes to three key pillars of Vision 2030: a vibrant society, a thriving economy, and an ambitious nation. This is achieved by enhancing local content, localizing supply chains, and developing promising industries, thus supporting the Kingdom’s position as a global industrial and logistics hub.
