Overview: In 2018 Saudi Arabia was the number 18 economy in the world in terms of GDP (current US$), the number 21 in total exports, the number 32 in total imports, and the number 27 most complex economy according to the Economic Complexity Index (ECI). In 2018, Saudi Arabia exported $263B and imported $136B, resulting in a positive trade balance of $127B. In 2018, Saudi Arabia's exports per capita were $7.8k and its imports per capita were $4.03k.
In 2018 Saudi Arabia exported a total of $263B, making it the number 21 exporter in the world. During the last five reported years the exports of Saudi Arabia have changed by -$290B from $553B in 2013 to $263B in 2018.
In 2018 Saudi Arabia imported $136B, making it the number 32 trade destination in the world. During the last five reported years the imports of Saudi Arabia changed by -$32.4B from $168B in 2013 to $136B in 2018.
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).
This section shows forecasts for total product exports and imports for Saudi Arabia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Saudi Arabia are:136: Most Favoured Nation duty rate treatement217: Preferential tariff for European Free Trade Association (EFTA) countries231: Preferential tariff for Gulf Cooperation Council (GCC)299: Preferential tariff for Singapore313: Preferential tariff for the League of Arab States
During the last 20 years Saudi Arabia's economy has become relatively more complex, moving from the 35th to the 27th 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.
Saudi Arabia has a high level of specialization in Ammonia (15.5), Tug Boats (12.5), Ethers (12.3), Crude Petroleum (10.7), and Ethylene Polymers (10.3). Specialization is measured using RCA, an index that takes the ratio between Saudi Arabia observed and expected exports in each product.
The top export opportunities for Saudi Arabia according to the relatedness index, are Non-Petroleum Gas (0.12), Iron Reductions (0.1), Tin Plating (0.095), Photographic Paper (0.093), and Aluminium Wire (0.092). 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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.
Saudi Arabia
