2018
Exports
$236BWorld Rnk 1 / 149
Flag Rnk 1 / 1100
2022
PRODUCT COMPLEXITY IN Crude Petroleum
-2.25Rnk 1011 / 1025
2018
Imports
$650MWorld Rnk 58 / 158
Flag Rnk 59 / 1197
2022
ECONOMIC COMPLEXITY of Saudi Arabia
0.78Rnk 35 / 133

About

Exports In 2018, Saudi Arabia exported $236B in Crude Petroleum, making it the 1st largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 1st most exported product in Saudi Arabia. The main destination of Crude Petroleum exports from Saudi Arabia are: China ($56.1B), Japan ($34.3B), India ($32.7B), South Korea ($32.5B), and United States ($16.6B).

The fastest growing export markets for Crude Petroleum of Saudi Arabia between 2021 and 2022 were China ($17.6B), India ($14.8B), and South Korea ($13.8B).

Imports In 2022, Saudi Arabia imported $650M in Crude Petroleum, becoming the 58th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 59th most imported product in Saudi Arabia. Saudi Arabia imports Crude Petroleum primarily from: Nigeria ($650M) and United Arab Emirates ($712).

The fastest growing import markets in Crude Petroleum for Saudi Arabia between 2021 and 2022 were Nigeria ($650M).

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Crude Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$236B
IMPORTS (2022)$650M
NET TRADE (2022)$235B

In 2022, Saudi Arabia exported $236B in Crude Petroleum. The main destinations of Saudi Arabia exports on Crude Petroleum were China ($56.1B), Japan ($34.3B), India ($32.7B), South Korea ($32.5B), and United States ($16.6B).

In 2022, Saudi Arabia imported $650M in Crude Petroleum, mainly from Nigeria ($650M) and United Arab Emirates ($712).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Saudi Arabia WERE (2021 - 2022):
China$17.6B (45.9%)
India$14.8B (82.5%)
South Korea$13.8B (74.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Saudi Arabia WERE (2021 - 2022):
South Africa-$607M (-28.3%)
Brunei-$450M (-57%)
Portugal-$91.3M (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Saudi Arabia's main exporting competitors in Crude Petroleum were:
In 2022, Saudi Arabia's main importing competitors in Crude Petroleum were:

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.77B
TOP IMPORT POTENTIALNigeria+ $2.15M

Crude Petroleum’s highest export potential is United States. With an export gap of $2.77B.   Crude Petroleum’s highest import potential is Nigeria with an import gap of $2.15M.

See methodology.

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