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2021
Economic Complexity
Trade 0.9Rank 31 of 131
2021
Economic Complexity
Technology 0.98Rank 23 of 96
2021
Economic Complexity
Research 0.029Rank 59 of 140
2021
Product
Exports | Imports $256B | $153B26 of 226 |  32 of 226
2021
Per Capita Product
Exports | Imports $7.12k | $4.26k48 of 220 |  93 of 220

About

Overview In 2021, Saudi Arabia was the number 18 economy in the world in terms of GDP (current US$), the number 26 in total exports, the number 32 in total imports, the number 53 economy in terms of GDP per capita (current US$) and the number 31 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Saudi Arabia are Crude Petroleum ($138B), Refined Petroleum ($35.9B), Ethylene Polymers ($12.5B), Propylene Polymers ($7.13B), and Acyclic Alcohols ($5.39B), exporting mostly to China ($48.7B), India ($25.6B), Japan ($24.1B), South Korea ($21.5B), and United Arab Emirates ($14B).

In 2021, Saudi Arabia was the world's biggest exporter of Crude Petroleum ($138B), Propylene Polymers ($7.13B), Acyclic Alcohols ($5.39B), Other Sea Vessels ($924M), and Tug Boats ($920M)

Imports The top imports of Saudi Arabia are Cars ($12.1B), Refined Petroleum ($7.43B), Broadcasting Equipment ($4.29B), Gold ($3.65B), and Packaged Medicaments ($3.13B), importing mostly from China ($29B), United Arab Emirates ($22.3B), United States ($11.6B), India ($8.69B), and Germany ($6.42B).

In 2021, Saudi Arabia was the world's biggest importer of Iron Reductions ($1.84B), Tanks and Armored vehicles ($1.56B), Sheep and Goats ($512M), Nutmeg, mace and cardamons ($220M), and Non-powered Aircraft ($39.9M)

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

August, 2023

About

Overview In August 2023 Saudi Arabia exported SAR102B and imported SAR59.5B, resulting in a positive trade balance of SAR42.3B. Between August 2022 and August 2023 the exports of Saudi Arabia have decreased by SAR-31.4B (-23.6%) from SAR133B to SAR102B, while imports increased by SAR880M (1.5%) from SAR58.6B to SAR59.5B.

Trade In August 2023, the top exports of Saudi Arabia were Mineral Products (SAR78.1B), Plastics and Rubbers (SAR6.37B), Chemical Products (SAR6.23B), Transportation (SAR4.03B), and Machines (SAR2.47B). In August 2023 the top imports of Saudi Arabia were Machines (SAR14.5B), Transportation (SAR10.4B), Chemical Products (SAR5.74B), Metals (SAR5.18B), and Mineral Products (SAR4.03B).

Destinations In August 2023, Saudi Arabia exported mostly to ind (SAR9.14B), kor (SAR8.47B), jpn (SAR8.23B), usa (SAR6.2B), and are (SAR5.16B), and imported mostly from United States (SAR5.95B), United Arab Emirates (SAR3.59B), India (SAR3.11B), Germany (SAR2.62B), and Switzerland (SAR2.6B).

Growth In August 2023, the decrease in Saudi Arabia's year-by-year exports was explained primarily by an decrease in exports to Japan (SAR-4.95B or -37.5%), South Korea (SAR-2.93B or -25.7%), and India (SAR-2.76B or -23.2%), and product exports decrease in Mineral Products (SAR-29.5B or -27.4%), Chemical Products (SAR-3.29B or -34.6%), and Plastics and Rubbers (SAR-1.49B or -19%). In August 2023, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from Singapore (SAR2.03B or 762%), United States (SAR1.38B or 30.1%), and Switzerland (SAR1.15B or 78.9%), and product imports increase in Transportation (SAR3.59B or 53.1%), Machines (SAR2.54B or 21.2%), and Precious Metals (SAR1.17B or 49.4%).

Latest Trade

Flow
Time Scale
Color
Type
EXPORT GROWTH (August 2022 - August 2023)SAR-31.4B(-23.6%)
IMPORT GROWTH (August 2022 - August 2023)SAR880M(1.5%)
MAIN DESTINATION (August 2023)IndiaSAR9.14B

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 (2021)Crude Petroleum$138B
Top Destination (2021)China$48.7B

In 2021, Saudi Arabia exported a total of $256B, making it the number 26 exporter in the world. During the last five reported years the exports of Saudi Arabia have changed by $55B from $201B in 2016 to $256B in 2021.

The most recent exports are led by Crude Petroleum ($138B), Refined Petroleum ($35.9B), Ethylene Polymers ($12.5B), Propylene Polymers ($7.13B), and Acyclic Alcohols ($5.39B). The most common destination for the exports of Saudi Arabia are China ($48.7B), India ($25.6B), Japan ($24.1B), South Korea ($21.5B), and United Arab Emirates ($14B).

Explore Visualizations

Exports (2021)
[Click to Select a Product]

Destinations (2021)
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Market Growth

Flow
View
Fastest Growing Export Markets (2020 - 2021)
China$14.4B (+ 41.9%)
India$8.79B (+ 52.2%)
Japan$7.87B (+ 48.4%)
Fastest Growing Import Markets (2020 - 2021)
United Arab Emirates$2.33B (+ 11.7%)
India$2.32B (+ 36.4%)
Greece$1.03B (+ 246%)

Total Export Growth by Market (2020 - 2021)

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)0.9Rank 31 of 131
Economic Complexity (Technology)0.98Rank 23 of 96
Economic Complexity (Research)0.029Rank 59 of 140

Most Specialized Products by RCA Index

Saudi Arabia has a high level of specialization in Tug Boats (20.6), Alkylbenzenes and Alkylnaphthalenes (15.9), Other Sea Vessels (15.7), Blown Glass (13.5), and Ammonia (12.4). Specialization is measured using RCA, an index that takes the ratio between Saudi Arabia observed and expected exports in each product.

Export Opportunities by Relatedness

The top export opportunities for Saudi Arabia according to the relatedness index, were Petroleum Gas (0.13), Iron Reductions (0.11), Scrap Vessels (0.1), Photographic Chemicals (0.1), and Typewriters (0.098). 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.

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.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Saudi Arabia's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨42nd to the 31st⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

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