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11/24/2015 12:00 PM
The Authority Will Target Increasing Non-oil Exports during the Coming Period
The Secretary General of the Saudi Exports Development Authority "SAUDI EXPORTS", Ahmed bin Abdulaziz Al-Hakbani, revealed that the Saudi non-oil exports growth has exceeded three times the global export growth over the past six years, pointing out that the authority's intends to increase non-oil exports which have reached so far 16 percent of the total national exports.
Al-Hakbani was talking during events of the "Big 5" show in Dubai, where the "SAUDI EXPORTS" organizes the Saudi pavilion in the show to be held from 23 - 26 November where more than 100 Saudi companies sponsored by SABIC and the Riyadh Chamber of Commerce will take part. He stressed that the "SAUDI EXPORTS" is working to create initiatives that drive the domestic exports with relative advantages to have bigger shares in the global markets. This is part of achieving the royal vision of building a strong economy with diversified sources of income and strong role of the industrial and service sectors in the national economy.
Al-Hakbani added that the Authority has made an initial list of target markets, including many major markets in the Middle East, Africa and Asia in accordance with the index of market attractiveness. He went further to emphasize that the Authority is targeting expansion in several quality sectors, including chemicals and polymers, which represent 77.2% of the total national non-oil exports, the construction sector (6.9%), the food products (5.4%), packaging (4.2 %), the consumer products ( 2.9 % of the total national non-oil exports), jewelry and precious metals (1.2%), medical and pharmaceutical products ( 0.9 %), fabrics and textile products ( 0.7 %) and finally, heavy and electronic equipment (0.6%).
The figures indicate that the volume of exports in 2008 represented about 57 trillion riyals globally against 100 billion riyals for non-oil exports, while exports reached more than 70 trillion riyals globally in 2014, against 186 million Saudi riyals for non-oil exports. This is consistent, according to Al-Hakbani, with the strategy of the Saudi Exports Development Authority that works to create initiatives to promote the growth of national factories in international markets.
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