NIDLP sectors contribute SAR 986B to GDP in 2024

Logo of National Industrial Development and Logistics Program (NIDLP)

The National Industrial Development and Logistics Program’s (NIDLP) sectors contributed SAR 986 billion to the Kingdom’s gross domestic product (GDP), or 39% of non-oil GDP, in 2024, up by roughly 4% from SAR 949 billion a year earlier.

In its annual report, the program said the total non-governmental investments accomplished by NIDLP sectors reached SAR 665 billion by the end of 2024.

Total investments increased by SAR 141 billion during 2024, compared to SAR 524 billion by the end of 2023, a YoY growth of nearly 27%.

The total number of workers in the program’s sector activities exceeded 2.4 million by the end of last year, an increase of over 508,000 workers (about 27%) YoY. More than 81,000 were Saudis.

Key sectors contributing to employment last year included manufacturing, which created more than 273,000 jobs, followed by transport and storage with over 180,000 jobs. The mining and quarrying sector added more than 45,000 jobs, while the electricity, gas, steam, and air conditioning supply sector accounted for over 8,000 jobs.

The program said the number of its initiatives reached 284 by the end of 2024, with 163 initiatives completed, representing 57% of the total. The remaining initiatives are progressing steadily toward their goals.

The program was launched in 2019 with the aim to make the Kingdom a leading industrial power and a global logistics hub through four main sectors: Energy, mining, industry, and logistics, along with two additional focus areas, namely the fourth industrial revolution and local content, to maximize the economic impact.