Trade Trend

In 2023, Saudi Arabia's total export value is 298.36Billion USD, total import value is 157.81Billion USD, Surplus is 140.55Billion USD, and foreign trade dependency is 0.427. In 2023，Saudi Arabia's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(211.11Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(32.16Billion USD), Polymers of ethylene, in primary forms(9.41Billion USD), top export destinations are China(64.37Billion USD), Japan(34.72Billion USD), India(33.64Billion USD). In 2023, Saudi Arabia's top import products are Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(14.86Billion USD), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(5.11Billion USD), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(4.52Billion USD), top import origins are China(42.86Billion USD), United States(13.87Billion USD), India(10.83Billion USD).

Comparing to 2022, Saudi Arabia's total export value decreased -84.79Billion USD(-22.13%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-48.84Billion USD or -18.79%), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-13.93Billion USD or -30.22%), Polymers of ethylene, in primary forms(-4.17Billion USD or -30.67%) and export decreases to countries/economics such as China(-13.70Billion USD or -17.55%), India(-9.67Billion USD or -22.33%), South Korea(-8.64Billion USD or -20.86%). Comparing to 2022, Saudi Arabia's total import value increased 14.47Billion USD(10.09%) in 2023, this could result from its import increases of products such as Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(2.30Billion USD or 18.28%), Gold (including gold plated with platinum) unwrought or in semimanufactured forms, or in powder form(1.72Billion USD or 61.57%), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(1.71Billion USD or 50.41%), and its import increases from countries/economies such as China(5.44Billion USD or 14.55%), United States(2.47Billion USD or 21.69%), Switzerland(1.77Billion USD or 35.38%).

Cumulated to first 7 months of 2024, Saudi Arabia's total export value is 102.45Billion USD, total import value is 62.37Billion USD, and tradesurplus is 40.08Billion USD. Cumulated to first 7 months of 2024, Saudi Arabia's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(76.87Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(8.41Billion USD), Polymers of ethylene, in primary forms(2.67Billion USD), and top export destinations are China(24.91Billion USD), South Korea(13.49Billion USD), Japan(12.80Billion USD). Cumulated to first 7 months of 2024, Saudi Arabia's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(76.87Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(8.41Billion USD), Polymers of ethylene, in primary forms(2.67Billion USD), and top import origins areChina(19.66Billion USD), United States(5.63Billion USD), India(4.49Billion USD).