Saudi Arabia sees 14.6% rise in container traffic in 2023: GASTAT 

According to the General Authority for Statistics, inbound container traffic at the Kingdom’s ports reached 3.4 million twenty-foot equivalent units in 2023, while outbound traffic totaled 2.2 million TEUs. Shutterstock
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Updated 18 September 2024
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Saudi Arabia sees 14.6% rise in container traffic in 2023: GASTAT 

RIYADH: Saudi Arabia’s ports saw a 14.6 percent increase in both inbound and outbound container traffic in 2023 compared to the previous year, official data showed. 

According to the General Authority for Statistics, inbound container traffic at the Kingdom’s ports reached 3.4 million twenty-foot equivalent units in 2023, while outbound traffic totaled 2.2 million TEUs. 

The report revealed that the quantity of outbound cargo amounted to 203.5 million tonnes in 2023, a strong indication of the Kingdom’s rising exports. King Fahad Industrial Port in Yanbu handled the largest volume of outbound cargo, totaling 89.8 million tonnes. 

Boosting exports, particularly non-oil goods, is crucial for Saudi Arabia as it continues its economic diversification efforts aimed at reducing its dependency on oil revenues. 

The quantity of inbound cargo reached 105.1 million tonnes in 2023, with Jeddah Islamic Port managing the largest share, handling 38.9 million tonnes of imports. 

GASTAT also noted a 33.8 percent rise in ship traffic at Saudi ports in 2023 compared to the previous year. 

“The total ship traffic at Saudi ports was 19,082 ships. King Fahad Industrial Port in Yanbu had the highest ship traffic, with 6,538 ships, followed by Jeddah Islamic Port with 4,411 ships, and King Abdulaziz Port in Dammam with 2,516 ships,” stated GASTAT.  

Total cargo handled at the Kingdom’s ports in 2023 amounted to 334 million tonnes, with 121.3 million tonnes of unloaded cargo and 213 million tonnes of loaded cargo.  

Jeddah Islamic Port recorded the highest unloaded cargo volume at 38.9 million tonnes, while King Fahad Industrial Port in Yanbu had the highest loaded cargo volume at 89.8 million tonnes. 

Passenger traffic at the Kingdom’s ports also rose by 11.5 percent in 2023, with over 1 million travelers arriving and departing. Jazan Port handled the largest number of passengers, totaling 484,598. 

The report highlighted that the number of cranes at Saudi ports reached 989 in 2023, and the total area of the Kingdom’s ports covered 104 sq. km, with Ras Al Khair Port being the largest at 23 sq. km. 


Closing Bell: Saudi main index slips to close at 11,228 

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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.