Home » Saudi non-oil sector to grow 4.7% despite regional slowdown: World Bank

Saudi non-oil sector to grow 4.7% despite regional slowdown: World Bank

by WorldFinance
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RIYADH: Improved efficiency at Saudi ports led to a 13.34 percent year-on-year surge in container throughput during April, according to the Kingdom’s General Authority for Ports, also known as Mawani.

Figures released by the organization showed the number of containers going through Saudi harbors reached 681,663 twenty-foot equivalent units last month, compared to 601,429 TEUs in April 2022.

This falls in line with Mawani’s objectives to develop a sustainable and prosperous maritime sector and further propel trade and economic development in the Kingdom.

It also aligns with the objectives of the National Transport and Logistics Strategy to position the Kingdom as a global logistics hub connecting three continents in support of the Saudi Vision 2030.

The increase includes the number of exported containers which grew 16.97 percent in April to reach 108,738 TEUs, as opposed to the 178,450 TEUs recorded in the same period a year ago.

Imports inched up 3.12 percent to reach 208,080 TEUs compared to the 201,784 TEUs in the corresponding month a year earlier.

As for transshipments, they reached 264,845 TEUs during April, reflecting a 19.73 percent jump from the 221,195 TEUs recorded in April 2022.

The authority also revealed that there was a 6.63 percent drop in cargo numbers at its ports.

The national maritime regulator disclosed that Saudi ports handled about 24.965 million tons in April in contrast to 26.73 million tons during the same month in 2022.

The total cargo count for April stood at an estimated 543,496 tons of general cargo, 4.13 million tons of dry bulk cargo, and 13.02 million tons of liquid bulk cargo.

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When it comes to the trade of food commodities, there was a 1.26 percent drop from 1.53 million tons in April 2022 to 1.531 million tons in April 2023.

Despite this, livestock figures reached 446,539 cattle heads in April this year, up from 458,280 in the corresponding period a year earlier, reflecting a 2.63 percent climb.

The number of vehicle units passing through the port stood at 91,083 automobiles during April, reflecting a 52.8 percent surge when compared to the 59,608 automobiles recorded in the same month a year ago.

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