The Kingdom of Saudi Arabia carried out merchandise shipment operations worth 251.8 billion dollars in the year 2019, and grew rapidly in the next two years. Today we talk about the top 10 exports of Saudi Arabia and their relevance within the context of international trade.
If the figures previously provided regarding the volume of commercial operations carried out in the year 2019, are compared with data from the year 2015, they would represent an increase in the exchange of goods of 18%. However, comparing this figure with those of 2018, they represent a reduction of 14.5%.
What is the relevance of exports in the economy of Saudi Arabia?
Below we are going to detail a numbered list according to the most frequent groups of products in terms of exports from Saudi Arabia, accompanied by the value in dollars according to global shipments from Saudi Arabia during the course of the year 2019.
- Products derived from mineral fuels, including petroleum within this group: 202.4 billion dollars.
- Plastic items and other derivatives of plastics: 19 billion.
- Chemical-type products that are organic: 12.7 billion.
- Derivatives of inorganic chemicals: 2.4 billion
- Materials made from aluminum and its derivatives: 2.13 billion
- The different types of fertilizers: 1.13 billion.
- Dairy products, honey and eggs: 1.1 billion.
- Machinery and electrical equipment: 724.5 million.
- Precious metals and gems of great value on the market: 706.1 million.
- Steel and iron: 699 million
It is important to note when learning about the 10 main exports from Saudi Arabia, that these account for approximately 96% of the total value of the different global commercial shipments made by the Middle Eastern country.
In order to carry out a percentage analysis according to the different main categories of products included in our list of exports from Saudi Arabia, comparing the figures between 2018 and 2019, there was a percentage increase of 3.9% in the case of chemical products of an inorganic nature and also, 1.8 in the case of products such as honey, eggs and other types of dairy products.
As a counterpart, it is essential to make a point since not all the products included in this list by category in terms of exports from Saudi Arabia obtained an increase. In the case of the group that includes iron and steel , for example, there was a reduction of 49% compared to data from 2018.
How important are Saudi Arabia’s exports in the economy of its main trading partners?
We consider it essential when it comes to knowing what Saudi Arabia exports, to be able to establish a comparison in order of importance of the countries from which it mainly buys goods. Next we are going to detail the main commercial partners of Saudi Arabia so that you know them, taking into account that we refer only to the exports of Saudi Arabia.
- China: 18.9% of the world’s total figures.
- The United Arab Emirates: 8.9% of the remaining merchandise volume.
- India : 7.6%. (Know which is the best export company in India?)
- Singapore: 6.9%.
- Turkey: 4%.
- Belgium: 3.7%.
- Egypt: 3.4%.
- Kuwait: 3.3%.
- Malaysia: 2.8%.
- Jordan 2.7%.
- United States: 2.1%.
- South Korea: 1.9%.
If we take into account that the population of Saudi Arabia is approximately around 34 million people, the data extracted from the previous list and the total annual export volume of Saudi Arabia, close to 251.8 billion dollars, These figures indicate that each person residing in this Middle Eastern country corresponds to around $7,400 per inhabitant.
3 Conclusions on Saudi Arabian exports
The Kingdom of Saudi Arabia obtained what is known within the economy as a trade surplus with an estimated value of 107.5 billion in 2019, a value lower than the economic data obtained in 2018.
Considering the net exports of Saudi Arabia and its repercussions within international trade for the country, it is important to mention some of its categories due to their special economic interest within the country’s GDP.
Within these groups, the case of petroleum stands out, and more specifically crude oil , as well as other types of petroleum-derived but refined oils and gaseous petroleum products. Equally noteworthy is the evolution of the economic outlook that provides Saudi Arabia with a strong competitive advantage in the case of mineral fuel-type products, in addition to the oil industry.