RIYADH: Saudi Arabia’s holdings of US Treasury securities stood at $131.6 billion in March, reflecting an increase of $5.2 billion from February, according to the latest data.

The analysis, released by the US Treasury, represents a month-on-month increase of 4.11 percent following a marginal decrease of 0.39 percent from January to February.

The change reflects market fluctuations or potential portfolio rebalancing as the Kingdom navigates global economic conditions. Saudi Arabia’s accumulation of US Treasuries is part of its broader strategy to manage foreign reserves and diversify low-risk assets.

The data revealed that the Kingdom maintained 17th place among the largest holders of such financial instruments in March.

The study also shows that Saudi Arabia and the UAE are the only Gulf Cooperation Council countries among the top 20 holders of US Treasury securities.

In March, the Kingdom’s holdings of US Treasuries included long-term bonds worth $103.8 billion, representing 78.8 percent of the total, and short-term bonds amounting to $23.2 billion, accounting for 17.6 percent.

In its latest release, the US Department of the Treasury stated: “The sum total in March of all net foreign acquisitions of long-term securities, short-term US securities, and banking flows was a net TIC (Treasury International Capital) inflow of $254.3 billion.”

Of this, net foreign private inflows accounted for $259.2 billion, and net foreign official outflows reached $4.9 billion.

According to a press release, foreign residents increased their holdings of long-term US securities to $183.2 billion in March, with private investors purchasing $146.0 billion while foreign official institutions recorded net sales of $37.3 billion. US residents also raised their holdings of long-term foreign securities with net purchases of $21.5 billion.

Meanwhile, foreign residents also boosted their US Treasury bill holdings in March. “Foreign resident holdings of all dollar-denominated short-term US securities and other custody liabilities increased by $98.6 billion,” the release added.

Conversely, banks’ net dollar-denominated liabilities to foreign residents dropped by $6.1 billion.

The report said Japan was the largest investor in US treasury bonds in March, with holdings totaling $1.13 trillion, followed by the UK and China, with portfolios valued at $779.3 billion and $765.4 billion, respectively.

The Cayman Islands and Canada were ranked fourth and fifth on the list, with treasury holdings amounting to $455.3 billion and $426.2 billion, respectively. 

RIYADH: Saudi Arabia’s air travel sector experienced a 15 percent growth in passenger traffic in 2024, with more than 128 million passengers traveling through the Kingdom’s airports, a report revealed.

According to the General Authority for Statistics’ Air Transport Statistics Publication 2024, international passenger traffic reached 69 million, an increase of 14 percent compared to 2023. Domestic passenger traffic also rose by 16 percent, totaling 59 million passengers.

Jeddah’s King Abdulaziz International Airport led with 49 million passengers, registering a 14 percent increase from the previous year.

King Khalid International Airport in Riyadh followed with 37.6 million passengers, an 18 percent increase, while Dammam’s King Fahd International Airport handled 12.8 million passengers, up 15 percent.

The average daily number of passengers at Saudi airports stood at approximately 189,000 for international flights and 162,000 for domestic routes.

Flight volumes also saw notable growth. The number of domestic flights reached 474,000 in 2024, up 12 percent, while international flights rose by 10 percent to 431,000.

Jeddah recorded the most flight operations with nearly 290,000, followed by Riyadh with 274,000 and Dammam airport with 105,000.

Saudi airlines operated 412,000 domestic and 152,000 international flights. Foreign airlines accounted for 1,584 domestic and 266,000 international routes, while general aviation contributed 60,000 domestic and 13,000 international flights.

Cargo traffic increased as well, with total air freight volumes reaching 1.2 million tonnes, a 34 percent growth from 2023.

Inbound cargo comprised 720,000 tonnes, outbound 64,000 tonnes, and transit cargo 407,000 tonnes. The highest monthly cargo volume was recorded in March at 123,000 tonnes.

The total aircraft fleet in Saudi Arabia grew to 361 in 2024, marking an 11 percent rise. The commercial fleet accounted for 258 aircraft, up 12 percent, with the largest segment comprising aircraft with over 250 seats. The general aviation fleet reached 103 aircraft, a 7 percent increase.

In terms of passenger handling ability, the total across Saudi airports reached 126 million in 2024. King Abdulaziz International Airport led with a designed capacity of 50 million passengers, an 11 percent year-on-year increase, operating at 98 percent of that limit.

King Khalid International Airport followed with 39 million, a 5 percent increase, and a 96 percent utilization rate.

The report also indicated improvements in air connectivity. King Abdulaziz International Airport offered the highest number of international routes at 369, followed by Prince Mohammed bin Abdulaziz International Airport in Madinah with 272, King Khalid International Airport with 165, and King Fahd International Airport with 85.

Compared to 2023, these figures reflect increases of 1 percent, 5 percent, and respective declines of 6 and 8 percent.

Overall, the air transport sector’s continued expansion aligns with the Kingdom’s Vision 2030 goals of enhancing connectivity, supporting tourism growth, and diversifying the national economy.