U.S.-Saudi Arabia Trade Facts
In 2019, Saudi Arabia GDP was an estimated $779.3 billion (current market exchange rates); real GDP was up by an estimated 0.3%; and the population was 34 million. (Source: IMF)
U.S. goods and services trade with Saudi Arabia totaled an estimated $38.7 billion in 2019. Exports were $23.9 billion; imports were $14.9 billion. The U.S. goods and services trade surplus with Saudi Arabia was $9.0 billion in 2019.
Saudi Arabia is currently our 27th largest goods trading partner with $27.9 billion in total (two way) goods trade during 2019. Goods exports totaled $14.5 billion; goods imports totaled $13.4 billion. The U.S. goods trade surplus with Saudi Arabia was $1.1 billion in 2019.
Trade in services with Saudi Arabia (exports and imports) totaled an estimated $10.8 billion in 2019. Services exports were $9.4 billion; services imports were $1.5 billion. The U.S. services trade surplus with Saudi Arabia was $7.9 billion in 2019.
According to the Department of Commerce, U.S. exports of goods and services to Saudi Arabia supported an estimated 165 thousand jobs in 2015 (latest data available) (101 thousand supported by goods exports and 63 thousand supported by services exports).
- Saudi Arabia was the United States' 23rd largest goods export market in 2019.
- .U.S. goods exports to Saudi Arabia in 2019 were $14.5 billion, up 6.5% ($889 million) from 2018 and up 34.2% from 2009.
- The top export categories (2-digit HS) in 2019 were: aircraft ($2.6 billion), vehicles ($2.0 billion), machinery ($2.0 billion), arms and ammunition ($1.6 billion), and electrical machinery ($835 million).
- U.S. total exports of agricultural products to Saudi Arabia totaled $1.3 billion in 2019, our 22th largest agricultural export market. Leading domestic export categories include: hay ($141 million), tree nuts ($128 million), corn ($110 million), rice ($98 million), and vegetable oils (ex. soybean) ($87 million).
- U.S. exports of services to Saudi Arabia were an estimated $9.4 billion in 2019, 11.4% ($962 million) more than 2018, and 51.7% greater than 2009 levels. Leading services exports from the U.S. to Saudi Arabia were in the travel, professional and management services, and maintenance and repair services sectors.
- Saudi Arabia was the United States' 26th largest supplier of goods imports in 2019.
- U.S. goods imports from Saudi Arabia totaled $13.4 billion in 2019, down 44.3% ($10.7 billion) from 2018, and down 39.2% from 2009.
- The top import categories (2-digit HS) in 2019 were: mineral fuels ($12 billion), aluminum ($295 million), special other (returns) ($258 million), fertilizers ($231 million), and organic chemicals ($183 million).
- U.S. total imports of agriculturalproducts from Saudi Arabia totaled $7 million in 2019. Leading categories include: processed fruit & vegetables ($3 million), snack foods ($898 thousand), wine & beer ($219 thousand), fruit & vegetable juices ($147 thousand), and roasted & instant coffee ($108 thousand).
- U.S. imports of services from Saudi Arabiawere an estimated $1.5 billion in 2019, 6.2% ($98 million) less than 2018, but 41.9% less than 2009 levels. Leading services imports from Saudi Arabia to the U.S. were in the travel, financial services, and transport sectors.
- The U.S. trade balance with Saudi Arabia shifted from a goods trade deficit of $10.5 billion in 2018 to a goods trade surplus of $1.1 billion in 2019.
- The United States has a services trade surplus of an estimated $7.9 billion with Saudi Arabia in 2019, up 15.5% from 2018.
- U.S. oreign direct investment (FDI) in Saudi Arabia (stock) was $10.8 billion in 2019, a 0.5% decrease from 2018. U.S. direct investment in Saudi Arabia is led by nonbank holding companies, wholesale, and mining trade.
- Saudi Arabia's FDI in the United States (stock) was $6.2 billion in 2019, down 10.0% from 2018. There is no information on the distribution of Saudi Arabia FDI in the U.S.
- Sales of services in Saudi Arabia by majority U.S.-owned affiliates were $4.3 billion in 2017 (latest data available), while sales of services in the United States by majority Saudi Arabia-owned firms were $1.9 billion.