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 The Trade Volume between Saudi Arabia and the United States of America Reached SR 142 billion in 2016

19 May 2017
The Ministry of Commerce and Investment pointed out that the volume of trade exchange between Saudi Arabia and the United States of America amounted to SR 142 billion in 2016 AD, the value of Saudi exports to America reached SR 65.6 billion, while the imports from America reached SR 75.8 billion, so the trade balance is in favor of America by SR 10.1 billion. America ranks second among the top ten importers from the Kingdom, and ranks first among the top ten exporters to the Kingdom during 2016 AD.

Crude oil and relevant products, (Urea)fertilizers, aluminum alloys and ethylene glycone (Ethan Diol) topped the list of the most important Saudi goods exported to America, while the list of goods imported from America included spare parts, aircraft engines and various types of vehicles.

The number of Saudi-American joint ventures operating in the Kingdom reached more than 588, including 123 industrial companies, 436 service companies (non-industrial), while  manufacturing, construction, administrative and support services, information and communications accounted for the largest share of US investment activities in the Kingdom, with 373 projects, and a percentage of 63% of the total projects.

The number of American branch companies operating in the Kingdom reached 175, while the number of joined companies (Saudi-US partners) reached 436.

In the context of partnerships and trade cooperation between the two countries, the Kingdom signed in May 2016 a memorandum of understanding for joint investments with GE Co. for $ 3 billion, in strategic sectors, in accordance with the Kingdom’s Vision 2030.

In the field of aviation, it was agreed in late February 2016 to establish a partnership Saudi company, between Aviation Technology Co. and the American Skyrockki co. for the development, manufacturing and production of Black Hawk multi-purpose helicopter in the Kingdom. The same period also witnessed the establishment of a Saudi company between Space Technology Co. and US Digital Globe Co. for manufacturing and marketing a range of small satellites for space video surveillance, In addition to the establishment of a Saudi company between Energy Technology Co. and US Sora Co. for manufacturing and marketing light bulbs based on the light emitting diode (known as LAD), also the Saudi Co. “ Atqon” signed a partnership agreement with US Co. “Do It Best”, the US giant retailer of household appliances, tools and accessories.

The Saudi-US Strategic Partnership also included the establishment of “Sadara” Chemical Company, a partnership between Saudi Arabian Oil Company (Saudi Aramco), and Dow Chemical Company (Dow), with a capital of $ 20 billion, besides the US Co. Guardian has started the manufacturing and production of glass in the Kingdom.

 
Last Modified 26 Dec 2018
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