Logo of US-Saudi Business Council
Saudi exports to the United States rose by 50% to reach SAR 50.7 billion in 2021, compared to total exports of SAR 33.7 billion in 2020, according to a recent statement issued by the US-Saudi Arabian Business Council (USSABC).
Similarly, Saudi Arabia’s non-oil exports to the US rose by 72% to SAR 9.1 billion in 2021 from SAR 5.3 billion in 2020, marking the highest annual level of non-oil exports ever in history.
The statement indicated that total oil exports rose by 46% to SAR 41.6 billion during 2021, compared to SAR 28.5 billion in 2020.
The following is a table showing the total Saudi exports to the US during 2021:
|
Saudi Exports to the US (SAR bln) |
|||
|
Exports |
2020 |
2021 |
Variation (%) |
|
Non-Oil Exports |
5.3 |
9.1 |
+72% |
|
Oil Exports |
28.5 |
41.6 |
+46% |
|
Total |
33.7 |
50.7 |
+50% |
On the other hand, the total US exports to the Kingdom amounted to SAR 41.8 billion in 2021, an increase of 0.3% year-on-year (YoY).
Trade relations between the Kingdom and the US rebounded after witnessing a decline in 2020 due to COVID-19 pandemic, which registered a record rise in the exchange of non-oil and non-defense goods.
Accordingly, the total trade volume grew 22% YoY to SAR 92.5 billion.
Fertilizers topped the Saudi non-oil exports to the US, reaching SAR 2.6 billion, or 29% of non-oil exports, the report said. Also, Saudi exports of urea doubled to SAR 750 million.
Organic chemicals ranked second for the highest Saudi non-oil exports to the US, reaching SAR 1.9 billion, or 21% of the total non-oil exports.
Saudi exports of aluminum and its products to the US rebounded to SAR 1.3 billion, making it the third highest Saudi non-oil exports to the US.
|
Saudi Non-Oil Exports to the US in 2021 (SAR bln) |
|
|
Non-Oil Exports |
Value (SAR bln) |
|
Fertilizers |
2.6 |
|
Organic Chemicals |
1.9 |
|
Aluminum and Its Materials |
1.3 |
The US exports to Saudi Arabia varied at the level of electrical, mechanical, industrial, agricultural and pharmaceutical goods.
Cars ranked first for the highest US exports to Saudi Arabia in 2021, with a total value of SAR 7.1 billion. Consumer cars made up about 75%, while the remaining 25% included military cars, tractors, trailers, and their spare parts.
They were followed by boilers, machinery, spare parts and etc., as they constituted 12% of the US exports to Saudi Arabia, with a value of SAR 5.2 billion, as the following table shows:
|
US Exports to Saudi Arabia in 2021 (SAR bln) |
|
|
Exports |
Value (SAR bln) |
|
Cars |
7.1 |
|
Boilers, Machinery, Spare Parts etc. |
5.2 |
|
Aircraft and Spare Parts |
5.0 |
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