Crude Petroleum in Saudi Arabia 2020 Exports | Imports : $95.7B | $16.5M, World Rnk 1 / 132 Rnk 1 / 1109 | World Rnk 79 / 145 Rnk 605 / 1204
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $734M | $16.5M, Egypt | United States
2020 ECONOMIC COMPLEXITY of Saudi Arabia: 0.86, Rnk 32 / 127
2020 PRODUCT COMPLEXITY IN Crude Petroleum: -2.2, Rnk 1018 / 1029
Exports In 2020, Saudi Arabia exported $95.7B 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 ($24.7B), Japan ($15.1B), South Korea ($12.8B), India ($11.1B), and United States ($6.59B).
The fastest growing export markets for Crude Petroleum of Saudi Arabia between 2019 and 2020 were Egypt ($734M), Brunei ($103M), and Austria ($77.2M).
Imports In 2020, Saudi Arabia imported $16.5M in Crude Petroleum, becoming the 79th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 605th most imported product in Saudi Arabia. Saudi Arabia imports Crude Petroleum primarily from: United States ($16.5M), United Arab Emirates ($5.67k), and Poland ($78).
The fastest growing import markets in Crude Petroleum for Saudi Arabia between 2019 and 2020 were United States ($16.5M) and Poland ($78).
Tariffs In 2017, the average tariff for Saudi Arabia in Crude Petroleum was 4.5%. The countries with the highest import tariffs for Crude Petroleum were Angola (Most Favoured Nation duty rate treatement, 5%), Burundi (Most Favoured Nation duty rate treatement, 5%), Benin (Most Favoured Nation duty rate treatement, 5%), Burkina Faso (Most Favoured Nation duty rate treatement, 5%), and Botswana (Most Favoured Nation duty rate treatement, 5%).
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.
EXPORTS (2020): $95.7B
IMPORTS (2020): $16.5M
NET TRADE (2020): $95.7B
In 2020, Saudi Arabia exported $95.7B in Crude Petroleum. The main destinations of Saudi Arabia exports on Crude Petroleum were China ($24.7B), Japan ($15.1B), South Korea ($12.8B), India ($11.1B), and United States ($6.59B).
In 2020, Saudi Arabia imported $16.5M in Crude Petroleum, mainly from United States ($16.5M), United Arab Emirates ($5.67k), and Poland ($78).
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Saudi Arabia WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Saudi Arabia WERE (2019 - 2020):
In 2020, Saudi Arabia's main exporting competitors in Crude Petroleum were:
In 2020, Saudi Arabia's main importing competitors in Crude Petroleum were:
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