2023
Exports
$1.88BWorld Rnk 38 / 219
Flag Rnk 8 / 96
2023
PRODUCT COMPLEXITY IN Iron & steel
1.66Rnk 26 / 1025
2023
Imports
$5.53BWorld Rnk 24 / 224
Flag Rnk 8 / 96
2023
ECONOMIC COMPLEXITY of Saudi Arabia
0.76Rnk 36 / 132

About

Exports In 2023, Saudi Arabia exported $1.88B in Iron & steel, making it the 38th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 8th most exported product in Saudi Arabia. The main destination of Iron & steel exports from Saudi Arabia are: Turkey ($222M), Jordan ($195M), Hong Kong ($190M), United Arab Emirates ($184M), and Egypt ($146M).

The fastest growing export markets for Iron & steel of Saudi Arabia between 2022 and 2023 were Egypt ($128M), Iraq ($94.9M), and Chinese Taipei ($74.3M).

Imports In 2023, Saudi Arabia imported $5.53B in Iron & steel, becoming the 24th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 8th most imported product in Saudi Arabia. Saudi Arabia imports Iron & steel primarily from: China ($2.23B), Oman ($820M), Bahrain ($474M), Sweden ($326M), and Japan ($268M).

The fastest growing import markets in Iron & steel for Saudi Arabia between 2022 and 2023 were China ($412M), Vietnam ($178M), and Japan ($108M).

Latest Trends

Dec 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 Iron & steel. 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 (2023)$1.88B
IMPORTS (2023)$5.53B
NET TRADE (2023)-$3.65B

In 2023, Saudi Arabia exported $1.88B in Iron & steel. The main destinations of Saudi Arabia exports on Iron & steel were Turkey ($222M), Jordan ($195M), Hong Kong ($190M), United Arab Emirates ($184M), and Egypt ($146M).

In 2023, Saudi Arabia imported $5.53B in Iron & steel, mainly from China ($2.23B), Oman ($820M), Bahrain ($474M), Sweden ($326M), and Japan ($268M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Saudi Arabia WERE (2022 - 2023):
Egypt$128M (748%)
Iraq$94.9M (1.68k%)
Chinese Taipei$74.3M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Saudi Arabia WERE (2022 - 2023):
Italy-$51.7M (-50.4%)
Pakistan-$49.7M (-98.6%)
China-$44M (-45.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Saudi Arabia's main exporting competitors in Iron & steel were:
China $66.2B
Germany $32.6B
Japan $31.6B
In 2023, Saudi Arabia's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALItaly+ $33.1M
TOP IMPORT POTENTIALIndia+ $149M

Iron & steel’s highest export potential is Italy. With an export gap of $33.1M.   Iron & steel’s highest import potential is India with an import gap of $149M.

See methodology.

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