Private sector exports financed by banks rise to 40 billion riyals

Private sector exports financed by commercial banks through (paid and open) recorded an annual growth of 21.1%.
The total value of documentary credits provided amounted to approximately 40,361 billion riyals in the third quarter of 2024, an increase of more than 7 billion riyals, compared to approximately 33,325 billion riyals during the same similar period in 2023.

Private sector exports

According to documentary credits by country, the Gulf Cooperation Council countries were the highest in value with 25,811 billion riyals, representing 64% of the total countries issuing them, according to what was shown in the monthly statistical bulletin issued by the Central Bank of Saudi Arabia for the month of October 2024.
The Arab countries came second, with a value of 7,707 billion riyals, representing 19.1% of the total.
Private sector exports financed through documentary credits (paid and open) achieved a quarterly growth of 35%, with an increase exceeding 10 billion riyals, compared to about 29,995 billion riyals during the second quarter of the same year.
In terms of the nature of the exported products, exports of “other industrial products” constituted 79% of the total value of documentary credits, with an amount estimated at 31,890 billion riyals, then exports of “chemicals and plastic materials” with 19% of the total, with a value of 7,560 billion riyals, and finally Exports of “agricultural and animal production” products amounted to 2.3% of the total, with a value exceeding 911 million riyals.