Saudi Arabia’s logistics sector grows 76 percent in Q2 2024

Saudi Arabia’s logistics sector saw a remarkable growth of 76 percent, with 11,928 registrations, making it the leading sector in the second quarter of 2024, according to the latest Business Sector Bulletin issued by the Ministry of Commerce. The bulletin highlights the most significant economic activities in promising sectors across various regions in Saudi Arabia.

Container handling sector

Notably, Saudi Arabia’s logistics sector saw a remarkable 48 percent growth in container handling during Q2 of 2024 with 2,457 new commercial files registered for container handling services. Riyadh led growth with an impressive 1,027 new registrations. Following closely were the Makkah Region with 738 registrations, the Eastern Region with 405, and the Madinah Region with 79. In addition, the Qassim Region recorded 59 new registrations.

Tech sector surges

Saudi Arabia’s artificial intelligence (AI) sector grew by 53 percent, with 8,948 registrations. Riyadh had the highest number of commercial registrations in this sector, totaling 5,492, followed by the Makkah region with 1,789, the Eastern region with 939, Madinah with 254, and Asir with 115.

Cloud-computing services also showed substantial growth, with a 43 percent increase to 2,358 registrations in the Q2 of 2024 compared to 1,648 registrations in the same period in 2023. Again, Riyadh led growth with 1,446 commercial registrations, followed by the Makkah region with 473, the Eastern region with 272, Madinah with 57, and Qassim with 25.

Furthermore, Saudi Arabia’s electronic games industry witnessed a 29 percent growth in the number of commercial registrations, with 336 registrations in Q2 of 2024 compared to 260 in the corresponding quarter of 2023.

Read: King Abdul Aziz Port in Dammam maintains operational excellence, handles 292,612 containers in May 2024

Saudi Vision 2030 drives growth

The Ministry of Commerce’s quarterly report highlights the vital sectors that contribute directly to Saudi Arabia’s economy in line with Saudi Vision 2030. In addition, the ministry aims to keep pace with the economic developments taking place in the Kingdom. Among the most prominent economic activities in Saudi Arabia’s promising sectors were transportation, logistics and technology services, recreational arts, and entertainment in Q2 of 2024.

For more news on logistics, click here.