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2023
Economic Complexity
Trade 0.76Rank 36 of 132
2021
Economic Complexity
Technology 0.98Rank 23 of 96
2022
Economic Complexity
Research -0.51Rank 84 of 140
2023
Product
Exports | Imports $300B | $202B26 of 226 |  31 of 226
2023
Per Capita Product
Exports | Imports $9.03k | $6.06k42 of 220 |  87 of 220

About

Overview In 2023, Saudi Arabia was the number 19 economy in the world in terms of GDP (current US$), the number 26 in total exports, the number 31 in total imports, the number 44 economy in terms of GDP per capita (current US$) and the number 36 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Saudi Arabia are Crude Petroleum ($181B), Refined Petroleum ($39.3B), Ethylene Polymers ($10.5B), Propylene Polymers ($5.46B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.22B), exporting mostly to China ($64.4B), India ($34.8B), Japan ($34.7B), United States ($16.5B), and United Arab Emirates ($11.5B).

In 2023, Saudi Arabia was the world's biggest exporter of Crude Petroleum ($181B), Propylene Polymers ($5.46B), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.22B), Other Sea Vessels ($1.44B), and Tug Boats ($920M)

Imports The top imports of Saudi Arabia are Cars ($19.1B), Refined Petroleum ($13.2B), Gold ($7.24B), Broadcasting Equipment ($6.78B), and Packaged Medicaments ($4.99B), importing mostly from China ($42.9B), United Arab Emirates ($15.2B), United States ($14.7B), India ($11.4B), and Germany ($9.41B).

In 2023, Saudi Arabia was the world's biggest importer of Sheep and Goats ($1.17B), Iron Reductions ($1.02B), and Nutmeg, mace and cardamons ($140M)

Location Saudi Arabia borders Iraq, Jordan, Kuwait, Oman, Qatar, United Arab Emirates, and Yemen by land and Bahrain, Egypt, Eritrea, Iran, and Sudan by sea.

Latest Trends

November, 2024

About

Overview In November 2024 Saudi Arabia exported SAR90.5B and imported SAR73.7B, resulting in a positive trade balance of SAR16.9B. Between November 2023 and November 2024 the exports of Saudi Arabia have decreased by SAR-4.43B (-4.67%) from SAR95B to SAR90.5B, while imports increased by SAR6.5B (9.68%) from SAR67.1B to SAR73.7B.

Trade In November 2024, the top exports of Saudi Arabia were Mineral Products (SAR64B), Chemical Products (SAR6.46B), Plastics and Rubbers (SAR5.84B), Machines (SAR4.35B), and Transportation (SAR3.53B). In November 2024 the top imports of Saudi Arabia were Machines (SAR20.7B), Transportation (SAR10.4B), Chemical Products (SAR6.33B), Metals (SAR6.3B), and Mineral Products (SAR3.67B).

Destinations In November 2024, Saudi Arabia exported mostly to China (SAR13.5B), Japan (SAR8.94B), United Arab Emirates (SAR8.75B), India (SAR8.74B), and South Korea (SAR8.35B), and imported mostly from China (SAR20.1B), United States (SAR7.52B), United Arab Emirates (SAR3.9B), Germany (SAR3.22B), and India (SAR3.14B).

Growth In November 2024, the decrease in Saudi Arabia's year-by-year exports was explained primarily by an decrease in exports to China (SAR-2.57B or -16%), India (SAR-1.55B or -15%), and Japan (SAR-1.52B or -14.5%), and product exports decrease in Mineral Products (SAR-8.68B or -11.9%), Metals (SAR-261M or -12.4%), and Chemical Products (SAR-221M or -3.31%). In November 2024, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from China (SAR3.42B or 20.5%), United States (SAR1.89B or 33.5%), and Switzerland (SAR875M or 57.1%), and product imports increase in Machines (SAR3.89B or 23.2%), Weapons (SAR1.8B or 342%), and Precious Metals (SAR731M or 31.1%).

Latest Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)SAR-4.43B(-4.67%)
IMPORT GROWTH (November 2023 - November 2024)SAR6.5B(9.68%)
MAIN DESTINATION (November 2024)ChinaSAR13.5B

This section shows exports and imports data at subnational level for Saudi Arabia. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of Saudi Arabia over time.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$181B
Top Destination (2023)China$64.4B

In 2023, Saudi Arabia exported a total of $300B, making it the number 26 exporter in the world. During the last five reported years the exports of Saudi Arabia have changed by $4.55B from $296B in 2018 to $300B in 2023.

The most recent exports are led by Crude Petroleum ($181B), Refined Petroleum ($39.3B), Ethylene Polymers ($10.5B), Propylene Polymers ($5.46B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.22B). The most common destination for the exports of Saudi Arabia are China ($64.4B), India ($34.8B), Japan ($34.7B), United States ($16.5B), and United Arab Emirates ($11.5B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Poland$1.63B (+ 27.1%)
Malaysia$763M (+ 8.65%)
Nigeria$743M (+ 103%)
Fastest Growing Import Markets (2022 - 2023)
China$2.9B (+ 7.24%)
Germany$1.94B (+ 25.9%)
United States$1.89B (+ 14.8%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

Type
Flow
Depth
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Service Trade

Service Trade

Saudi Arabia Exports Services (2018)$19.7B
Saudi Arabia Imports Services (2018)$83.8B

In 2018, Saudi Arabia exported $19.7B worth of services. The top services exported by Saudi Arabia in 2018 were Travel ($13.8B), Transportation ($4.51B), Government services, n.i.e. ($678M), Financial services ($298M), and Computer and information services ($282M).

The top services imported by Saudi Arabia in 2018 were Government services, n.i.e. ($28.8B), Travel ($16.6B), Transportation ($15.7B), Other business services ($10.4B), and Construction services ($6.41B).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)0.76Rank 36 of 132
Economic Complexity (Technology)0.98Rank 23 of 96
Economic Complexity (Research)-0.51Rank 84 of 140

Most Specialized Products by RCA Index

Saudi Arabia has a high level of specialization in Sulfur (50.5), Other Sea Vessels (19.6), Tug Boats (17.9), Alkylbenzenes and Alkylnaphthalenes (13.5), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) (11.9). Specialization is measured using RCA, an index that takes the ratio between Saudi Arabia observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Saudi Arabia according to the product complexity index (PCI) are Epoxides, epoxyalcohols, epoxyphenols and epoxyethers; with a three-membered ring and their halogenated,... (1.41), Ketones and quinones; whether or not with other oxygen function, and their... (1.27), Acids; unsaturated acyclic monocarboxylic, cyclic monocarboxylic, their anhydrides, halides, peroxides and peroxyacids;... (1.23), Phenols; monophenols, polyphenols, and phenol-alcohols (1.21), and Acrylic polymers in primary forms (1.18). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Saudi Arabia according to the relatedness index, were Petroleum Gas (0.11), Typewriters (0.1), Iron Reductions (0.097), Raw Aluminium (0.095), and Cobalt Oxides and Hydroxides (0.093). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Saudi Arabia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Saudi Arabia. These are products that tend to be co-exported with the products that Saudi Arabia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Saudi Arabia's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨36th to the 36th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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