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 53 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), Bitumen and 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.
December, 2022
Overview In December 2022 Saudi Arabia exported SAR108B and imported SAR60.2B, resulting in a positive trade balance of SAR47.5B. Between December 2021 and December 2022 the exports of Saudi Arabia have increased by SAR1.97B (1.86%) from SAR106B to SAR108B, while imports increased by SAR8.37B (16.1%) from SAR51.9B to SAR60.2B.
Trade In December 2022, the top exports of Saudi Arabia were Mineral Products (SAR85.9B), Chemical Products (SAR8.09B), Plastics and Rubbers (SAR6.11B), Metals (SAR2.05B), and Machines (SAR1.81B). In December 2022 the top imports of Saudi Arabia were Machines (SAR14.1B), Transportation (SAR10.6B), Metals (SAR6.08B), Chemical Products (SAR5.61B), and Foodstuffs (SAR3.39B).
Destinations In December 2022, Saudi Arabia exported mostly to jpn (SAR12.6B), ind (SAR11.3B), kor (SAR9.05B), usa (SAR5.64B), and egy (SAR4.4B), and imported mostly from United States (SAR6.38B), United Arab Emirates (SAR4.39B), India (SAR3.53B), Germany (SAR2.98B), and Japan (SAR2.53B).
Growth In December 2022, the increase in Saudi Arabia's year-by-year exports was explained primarily by an increase in exports to South Korea (SAR5.82B or 110%), India (SAR4.11B or 52.6%), and Japan (SAR2.83B or 37.1%), and product exports increase in Mineral Products (SAR30.6B or 57.5%), Chemical Products (SAR2.31B or 44.4%), and Plastics and Rubbers (SAR1.77B or 28.9%). In December 2022, the increase in Saudi Arabia's year-by-year imports was explained primarily by an increase in imports from Egypt (SAR1.01B or 181%), South Korea (SAR966M or 98.7%), and Russia (SAR700M or 552%), and product imports increase in Machines (SAR2.3B or 24.8%), Chemical Products (SAR1.35B or 32.5%), and Vegetable Products (SAR963M or 39.4%).
EXPORT GROWTH (December 2021 - December 2022): SAR1.97B, (1.86%)
IMPORT GROWTH (December 2021 - December 2022): SAR8.37B, (16.1%)
MAIN DESTINATION (December 2022): Japan, SAR12.6B
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.
For full datasets download visit Bulk Download page.
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 (1.62), Phenols (1.44), Blown Glass (1.37), Acrylic Polymers (1.33), and Ketones and Quinones (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), Bitumen and 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.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v5.1.14 lamb