Trading Partner Portal: Saudi Arabia

Overview

Trade Overview

saudiarabia_usa_ca_flagsThe Kingdom of Saudi Arabia has a population of approximately 31.54 million and is roughly one-fifth the size of the US geographically. It is the largest country in the world without a single river. In 2014 Saudi Arabia had a GDP of $753.8 billion.

As the leading producer of oil and natural gas in the world, Saudi Arabia is largely economically dependent on petroleum output. It holds 16 percent of the world’s petroleum reserves and is the largest exporter of petroleum. (CIA Factbook)

ca-exports-to-saudi-arabiaThe Kingdom of Saudi Arabia has been a member of the WTO since 2005, and has since been working towards attracting foreign investment. The government recently begun a campaign to build up six “economic cities” in the country to promote the national economy, create more jobs, improve domestic skills, develop the regions and diversify the economy.

Saudi Arabia’s Economic Cities​
Saudi Arabian General Investment Authority

Two-way trade in goods between the United States and Saudi Arabia was around $34 billion in 2016. Saudi Arabia is the United States’ 19th largest export destination with $18 billion in exports. The top import into the United States from Saudi Arabia is oil and gas, accounting for 92.1% of total imports. Top exports from the United States to Saudi Arabia include transportation equipment, machinery, chemicals and computers.

Saudi Arabia is California’s 28th largest export destination. In 2016, California exported approximately $983 million to Saudi Arabia. California is among the top five state exporters to Saudi Arabia. Transportation equipment accounted for 20.9% of exports, while agricultural products accounted for 17.3%. Computer and electronic products accounted for 17.3% of exports, totaling nearly $169 million, while food manufactures accounted for 9.7% and $95 million.

Trade Policy Review: Saudi Arabia
WTO, January 2012

Saudi Arabia raises WTO membership to 149
WTO, December 2005

CIA Factbook: Saudi Arabia​​

U.S. – Saudi Business Opportunities Forum


U.S. – Saudi Business Opportunities Forum

saudiarabia_usa_ca_flags_small

Already the largest economy in the region and a key member of the G20, Saudi Arabia is undergoing an extraordinary economic boom. Massive public investment, rapid private-sector growth and new sector initiatives are driving an expansion projected to offer more than $1 trillion in trade and investment opportunities over the next decade.

This recent US-Saudi Forum was held September 16-18 in Los Angeles highlighting the U.S.-Saudi commercial and trade relationship and how U.S. companies can participate in Saudi Arabia’s expansion. Approximately 1,200 American and Saudi businesses, government officials, academics and opinion leaders were in attendance.

US-Saudi Forum Keynote: His Excellency Dr. Tawfig Alrabiah

Keynote Address: The Honorable Penny Pritzker, U.S. Secretary of Commerce

Obama Trade Official Highlights the Positive Impact of Expanding the U.S.-Saudi Arabia Trade Relationship
ITA Blog, September 18, 2013