2023
Exports
$181BWorld Rnk 1 / 150
Flag Rnk 1 / 1148
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$66.4MWorld Rnk 75 / 159
Flag Rnk 367 / 1206
2023
ECONOMIC COMPLEXITY of Saudi Arabia
0.76Rnk 36 / 132

About

Exports In 2023, Saudi Arabia exported $181B in Crude Petroleum, making it the 1st largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Saudi Arabia. The main destination of Crude Petroleum exports from Saudi Arabia are: China ($53.9B), Japan ($33.2B), India ($23.6B), United States ($10.8B), and Chinese Taipei ($8.14B).

The fastest growing export markets for Crude Petroleum of Saudi Arabia between 2022 and 2023 were Poland ($1.76B), Malaysia ($814M), and Pakistan ($333M).

Imports In 2023, Saudi Arabia imported $66.4M in Crude Petroleum, becoming the 75th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 367th most imported product in Saudi Arabia. Saudi Arabia imports Crude Petroleum primarily from: Nigeria ($66.4M), United States ($27.6k), United Arab Emirates ($6.94k), Netherlands ($627), and France ($2).

The fastest growing import markets in Crude Petroleum for Saudi Arabia between 2022 and 2023 were United States ($27.6k), United Arab Emirates ($6.22k), and Netherlands ($627).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$181B
IMPORTS (2023)$66.4M
NET TRADE (2023)$181B

In 2023, Saudi Arabia exported $181B in Crude Petroleum. The main destinations of Saudi Arabia exports on Crude Petroleum were China ($53.9B), Japan ($33.2B), India ($23.6B), United States ($10.8B), and Chinese Taipei ($8.14B).

In 2023, Saudi Arabia imported $66.4M in Crude Petroleum, mainly from Nigeria ($66.4M), United States ($27.6k), United Arab Emirates ($6.94k), Netherlands ($627), and France ($2).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Saudi Arabia WERE (2022 - 2023):
Poland$1.76B (33.4%)
Malaysia$814M (12.7%)
Pakistan$333M (10.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Saudi Arabia WERE (2022 - 2023):
South Korea-$37.7B (-100%)
China-$11.1B (-17.1%)
India-$9.05B (-27.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Saudi Arabia's main exporting competitors in Crude Petroleum were:
In 2023, Saudi Arabia's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.77B
TOP IMPORT POTENTIALNigeria+ $2.15M

Crude Petroleum’s highest export potential is United States. With an export gap of $2.77B.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $2.15M.

See methodology.

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