“In 2023, the Top Five destinations for U.S. goods exports to MENA were the United Arab Emirates ($24.9 billion), the Kingdom of Saudi Arabia ($13.9 billion), the State of Qatar ($4.7 billion), the Republic of Egypt ($4.5 billion), and the Kingdom of Morocco ($3.8 billion).  These five nations accounted for $51.8 billion in U.S. sales, representing approximately 80 percent of American goods exports to the Arab world.” U.S. Exports to the Arab World Jump By 12 Percent to $65.3 Billion [National U.S.-Arab Chamber of Commerce]

“Most current electric vehicle production is small to medium-sized, which does not suit the needs of large Saudi families.” Industry expert Hossam Iraqi said EVs are less popular among Saudis owing to their size and performance in extreme heat. In fuel-guzzling Saudi Arabia, electric cars pique interest [Al-Monitor]

“According to recent statistics released by the GCC Statistical Centre, the total population of the Gulf Cooperation Council (GCC) countries witnessed a significant increase of 7.3% in 2023 compared to 2021, reaching 57.6 million.” GCC Population Surges by 4 Million in Two Years [Daily Tribune]

“Rapid Saudisation is one of the key elements of the Vision 2030 plan and the latest move concerning engineering jobs is one further step to fulfil the aim of increasing Saudis in the expanding private sector in the kingdom,” Junaid Ansari, head of investment strategy and research at Kamco Invest, Saudi Arabia’s move to nationalise engineering jobs ‘required’ to tackle unemployment [The National]

“There was a 17% increase in the number of passengers over the past six months, reaching approximately 62 million passengers, compared to 53 million passengers during the same period last year. The number of flights also reached approximately 446,000, marking a 12% increase compared to the same period last year, which saw 399,000 flights. Additionally, the airfreight volume in the first six months of 2024 witnessed a 41% increase, reaching 606,000 tons compared to the 430,000 tons in the same period of 2023.” GACA Reports Significant Growth in Air Travel in Saudi Arabia [General Authority of Civil Aviation]

“Film, as beautiful as it is, is an industry. It provides significant direct jobs and . . . a strong indirect economic impact on local businesses.” Charlene Deleon-Jones, executive director of Film AlUla, a government program promoting the sector in the city, which is home to Saudi Arabia’s first Unesco World Heritage site, Saudi Arabia rolls out red carpet for foreign filmmakers [Financial Times]

“When we talk to the government, we don’t talk about crypto — we talk about what Web3 can do.” Saudi Arabia’s Riyadh may be crypto’s sleeping giant [Cointelegraph]

“The Kingdom is keen on a just, orderly, and pragmatic energy transition and is working towards the advancement of the circular carbon economy framework. Through this challenge, related to innovation inside the circular carbon economy, we look forward to seeing new solutions that would help push innovation forward. We encourage all the innovators, thinkers, and companies to come up with out-of-the-box solutions, even solutions that could perhaps look like a long shot at present but which could turn out to be applicable and actionable in the future.” Faisal Alibrahim, Saudi Arabia’s Minister of Economy and Planning, Saudi Arabia Announces Carbon Capture And Utilization Challenge For Startups [Carbon Herald]

“Saudi Arabia’s balancing act between maintaining OPEC stability, sustaining oil revenues, and investing in non-oil sectors is a complex endeavor. As it shoulders the burden of OPEC production cuts, the kingdom’s economic transformation under Vision 2030 poses a unique challenge, potentially reshaping global oil dynamics and OPEC’s future.” Julianne Geiger, Saudi Arabia’s Economic Strategy is a Double-Edged Sword for OPEC Stability [Oilprice.com]