Exporting to Saudi arabia

Saudi Arabia Export Guide | Trade Finance Global

Exporting to Saudi Arabia

Saudi Arabia sits as the fifth largest export economy in the world and is the forty-second most complex economy according to the Economic Complexity Index (ECI). It is the world’s main producer and exporter of petroleum products, and acts as the second largest oil producer after Russia. On average, Saudi Arabia exports around $600B of goods and imports around $150B, which results in a positive trade balance of around $450B. It is estimated that the GDP of Saudi Arabia is around $750B with a GDP per capita of around $50k.

Saudi Arabia Country Profile

Official Name (Local Language) Al Mamlakah al Arabiyah as Suudiyah
Capital Riyadh
Population 28,160,273
Currency Saudi Riyal
GDP $637.8 billion
Languages Arabic
Telephone Dial In 966

Saudi Arabia Imports Profile

Imports ($m USD)

129,796

Number of Import Products

4,321

Number of Import Partners

172

Top 5 import partners

country

trade

%

China

18,841

14.52

United States

17,342

13.36

Germany

8,181

6.30

Japan

7,176

5.53

United Arab Emirates

6,93

5.34

Top 5 Import Products at HS 6 digit level

export product

number

Automobiles with reciprocating piston engine di

9.9%

Automobiles with reciprocating piston engine di

3.3%

Transmission apparatus, for radioteleph incorpo

2.7%

Other medicaments of mixed or unmixed products,

2.1%

Aircraft parts nes

1.7%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Saudi Arabia

Agriculture

%

Product List

2.4%

Wheat, barley, tomatoes, melons, dates, citrus; mutton, chickens, eggs, milk

Industry

%

Industry List

42.9%

Crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial aircraft repair, construction

Services

%

Services List

54.7%

Exporting to Saudi Arabia: What is trade finance?

Saudi Arabia sits as the fifth largest export economy in the world and is the forty-second most complex economy according to the Economic Complexity Index (ECI). It is the world’s main producer and exporter of petroleum products, and acts as the second largest oil producer after Russia. On average, Saudi Arabia exports around $600B of goods and imports around $150B, which results in a positive trade balance of around $450B. It is estimated that the GDP of Saudi Arabia is around $750B with a GDP per capita of around $50k.

When looking at products that are exported, the main items are crude petroleum, (around $520B), refined petroleum ($30B) and petroleum gas (around $12B) and propylene polymers (around $11B). The main countries of export are Asia (almost $200B), North and Central America ($54B), China ($48B), the United States (around $45B) and Japan (over $40B).

In terms of geography, Saudi Arabia borders the United Arab Emirates, Jordan, Iraq, the United Arab Emirates, Kuwait, Oman, Qatar and Yemen by land and Egypt, Eritrea, Bahrain, Sudan and Iran by sea.

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Saudi Arabia Economic Statistics

Government Website

https://www.saudi.gov.sa/

Sovereign Ratings

https://countryeconomy. com/ratings/saudi-arabia

Central Bank

Saudi Arabian Monetary Authority

Currency USD Exchange Rate

3.75

Unemployment Rate

11.2%

Population below poverty line

NA

Inflation Rate

4.4%

Prime Lending Rate

2.5%

GDP

$637.8 billion

GDP Pro Capita (PPP)

$54,100

Currency Name

Saudi Riyal

Currency Code

SAR

World Bank Classification

High Income

Competitive Industrial Performance

29/138

Corruption Perceptions Index

57/180

Ease of Doing Business

92/190

Enabling Trade Index

67/136

Currency in Saudi Arabia

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