Xifres de comerç exterior d'Aràbia Saudita

Foreign Trade in Figures

Trade represents around 62% of Saudi’s GDP (World Bank, latest data available). Saudi Arabia is the world's leading oil exporter. In 2023, its oil exports totalled USD 211.54 billion, representing 16.3% of global oil exports. In 2023, the main non-oil export items included chemical products, accounting for 29.7% of total non-oil exports, despite a 28.5% decline from 2022. Plastics, rubber, and related products followed, representing 24.9% of non-oil exports, down 24.2%. On the import side, machinery, electrical equipment, and parts were the most significant, making up 22.2% of total imports, rising by 24.3% from 2022. Transportation equipment and parts ranked second at 15.3%, with a 15.2% increase (data General Authority for Statistics).

In 2023, China was Saudi Arabia's top export destination, accounting for 16.6% of total exports, followed by Japan (10.2%) and India (9.4%). Exports to the top 10 destinations, including South Korea, UAE, the U.S., Bahrain, Taiwan, Malaysia, and Singapore, made up 65.3% of total exports.
China also led as the primary source of imports, representing 20.9% of total imports, followed by the U.S. (9.1%) and UAE (6.4%). Imports from the top 10 countries, including India, Germany, Japan, Switzerland, South Korea, Italy, and Egypt, accounted for 62% of total imports (data General Authority for Statistics). In order to promote international trade, attract foreign investment and diversify the non-oil sectors, the government announced plans to establish four “economic cities” in different regions of the country, providing a variety of advantages to companies that choose to locate their operations within their limits.

The country's trade balance, although structurally in surplus, fluctuates depending on the price of oil and global demand. In 2023, exports totalled USD 322.2 billion against USD 211 billion in imports. In the same year, the Kingdom exported USD 51.9 billion worth of services, importing USD 96.2 billion (WTO). Non-oil exports, including re-exports, declined by 13.7%, while national non-oil exports (excluding re-exports) dropped by 21.3%. Re-exported goods, however, saw a 26.7% increase. Merchandise exports fell by 22.2% due to a 24.3% decrease in oil exports, reducing the share of oil exports from 79.5% in 2022 to 77.3% in 2023. Imports rose by 9.0%, leading to a 48.9% decline in the merchandise trade balance surplus (data GAS). The overall trade balance was estimated to be positive by 7.4% of GDP in 2023 by the World Bank (from 16.9% one year earlier). According to data from the General Authority for Statistics, overall merchandise exports stood at SAR 866.5 billion in the first nine months of 2024, whereas imports reached SAR 633.3 billion (-4.2% and +10.2% y-o-y, respectively).