Saudi Arabia2020 Economic Complexity : 0.86, Rank 32 of 127
2020 Product Exports | Imports: $167B | $143B, 30 of 226 | 30 of 226
2020 Per Capita Product Exports | Imports: $4.8k | $4.12k, 63 of 219 | 84 of 219
2018 Service Exports | Imports : $19.7B | $83.8B, 46 of 138 | 22 of 138
Overview In 2020, Saudi Arabia was the number 20 economy in the world in terms of GDP (current US$), the number 30 in total exports, the number 30 in total imports, the number 46 economy in terms of GDP per capita (current US$) and the number 32 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Saudi Arabia are Crude Petroleum ($95.7B), Refined Petroleum ($10.7B), Ethylene Polymers ($9.17B), Propylene Polymers ($5.28B), and Acyclic Alcohols ($3.22B), exporting mostly to China ($33.4B), India ($16.8B), Japan ($16.3B), South Korea ($14.4B), and United Arab Emirates ($9.21B).
In 2020, Saudi Arabia was the world's biggest exporter of Crude Petroleum ($95.7B), Propylene Polymers ($5.28B), Acyclic Alcohols ($3.22B), Ammonia ($2.09B), and Tug Boats ($987M)
Imports The top imports of Saudi Arabia are Cars ($11.2B), Broadcasting Equipment ($5.5B), Refined Petroleum ($3.86B), Packaged Medicaments ($3.14B), and Telephones ($2.38B), importing mostly from China ($31.8B), United Arab Emirates ($18B), United States ($10.8B), Germany ($6.79B), and India ($6.37B).
In 2020, Saudi Arabia was the world's biggest importer of Iron Reductions ($1.32B), Sheep and Goats ($391M), Nutmeg, mace and cardamons ($338M), Asphalt ($279M), and Artificial Monofilament ($3.12M)
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.
August, 2022
Overview In August 2022 Saudi Arabia exported SAR133B and imported SAR58.6B, resulting in a positive trade balance of SAR74.6B. Between August 2021 and August 2022 the exports of Saudi Arabia have increased by SAR44.5B (50.1%) from SAR88.8B to SAR133B, while imports increased by SAR9.72B (19.9%) from SAR48.9B to SAR58.6B.
Trade In August 2022, the top exports of Saudi Arabia were Mineral Products (SAR108B), Chemical Products (SAR9.52B), Plastics and Rubbers (SAR7.86B), Metals (SAR2.14B), and Transportation (SAR1.86B). In August 2022 the top imports of Saudi Arabia were Machines (SAR11.9B), Transportation (SAR6.76B), Chemical Products (SAR6.62B), Metals (SAR5.7B), and Mineral Products (SAR5.17B).
Destinations In August 2022, Saudi Arabia exported mostly to jpn (SAR13.2B), ind (SAR11.9B), kor (SAR11.4B), usa (SAR7.33B), and are (SAR5.19B), and imported mostly from United States (SAR4.57B), United Arab Emirates (SAR3.91B), India (SAR3.77B), Germany (SAR2.97B), and Japan (SAR2.06B).
Growth In August 2022, the increase in Saudi Arabia's year-by-year exports was explained primarily by an increase in exports to China (SAR11.5B or 451%), Japan (SAR7.51B or 5.76k%), and India (SAR6.87B or 725%), and product exports increase in Mineral Products (SAR53.2B or 34.3k%), Plastics and Rubbers (SAR1.2B or 24.5%), and Transportation (SAR619M or 38.9%). In August 2022, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from United States (SAR3.06B or 62.2%), China (SAR1.48B or 18.2%), and United Arab Emirates (SAR1.17B or 45.2%), and product imports increase in Weapons (SAR4.08B or 525%), Metals (SAR612M or 17.9%), and Vegetable Products (SAR596M or 32.3%).
EXPORT GROWTH (August 2021 - August 2022): SAR44.5B, (50.1%)
IMPORT GROWTH (August 2021 - August 2022): SAR9.72B, (19.9%)
MAIN DESTINATION (August 2022): Japan, SAR13.2B
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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Top Export (2020): Crude Petroleum, $95.7B
Top Destination (2020): China, $31.8B
In 2020, Saudi Arabia exported a total of $167B, making it the number 30 exporter in the world. During the last five reported years the exports of Saudi Arabia have changed by -$24.7B from $192B in 2015 to $167B in 2020.
The most recent exports are led by Crude Petroleum ($95.7B), Refined Petroleum ($10.7B), Ethylene Polymers ($9.17B), Propylene Polymers ($5.28B), and Acyclic Alcohols ($3.22B). The most common destination for the exports of Saudi Arabia are China ($33.4B), India ($16.8B), Japan ($16.3B), South Korea ($14.4B), and United Arab Emirates ($9.21B).
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).
Saudi Arabia has a high level of specialization in Ammonia (32.4), Tug Boats (26.4), Crude Petroleum (15), Other Sea Vessels (14.5), and Ethers (14). Specialization is measured using RCA, an index that takes the ratio between Saudi Arabia observed and expected exports in each product.
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, sulphonated, nitrated or nitrosated derivatives (1.62), Phenols; monophenols, polyphenols, and phenol-alcohols (1.44), Glass; drawn glass and blown glass, in sheets, whether or not having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (1.37), Acrylic polymers in primary forms (1.33), and Ketones and quinones; whether or not with other oxygen function, and their halogenated, sulphonated, nitrated or nitrostated derivatives (1.29). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Saudi Arabia according to the relatedness index, are Iron Reductions (0.13), Asphalt (0.12), Cobalt Oxides and Hydroxides (0.11), Gold (0.11), and Other Hides and Skins (0.11). 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.
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.
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.
During the last 20 years Saudi Arabia's economy has become relatively more complex, moving from the 39th to the 32nd 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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