Saudi Arabia

Asia & Middle East
Saudi Arabia world map

Trade in Saudi Arabia

Saudi Arabia was the world’s 26th largest exporter of goods and 57th largest exporter of commercial services in 2021. Export values were $276.2 and $9.7 billion USD respectively. Saudi Arabia’s top export category was fuels and mining products, followed by manufactures, and agricultural products. In 2020, Saudi Arabia’s main export destination markets for goods and services trade were to the United Arab Emirates, China and India, with trade representing 52.08 per cent of GDP. In terms of imports, Saudi Arabia’s import values were $152.8 and $62.0 billion USD respectively in 2021. Saudi Arabia’s top import category was manufactures, followed by agricultural products and fuels and mining products. Leading import partners were China, the United States and the United Arab Emirates. Saudi Arabia is part of 4 different Regional Trade Agreements, such as EFTA – Gulf Cooperation Council (GCC) and Gulf Cooperation Council (GCC) – Singapore.
Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

Official Name

Kingdom of Saudi Arabia

Abbreviation

SA

Capital

Riyadh

WTO Membership Date

11 December 2005

Legal System

Islamic (sharia) legal system with some elements of Egyptian, French, and customary law; note - several secular codes have been introduced; commercial disputes handled by special committees

Language

Arabic

Number of Time Zone(s)

1

Additional Information

Financial Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Saudi riyal

Exchange Rate

 Google Finance Currencies

GTFP Confirming Banks

Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited.

  • Alawwal Bank - Riyadh, Saudi Arabia - SWIFT: AAALSARI

  • Bank Aljazira - Jeddah, Saudi Arabia - SWIFT: BJAZSAJE

  • Banque Saudi Fransi - Riyadh, Saudi Arabia - SWIFT: BSFRSARI

  • Banque Saudi Fransi Central - Riyadh, Saudi Arabia - SWIFT: BSFRSARIXXX

  • Banque Saudi Fransi Western - Jeddah, Saudi Arabia - SWIFT: BSFSSARIWST

  • BNP Paribas Saudi Arabia - Riyadh, Saudi Arabia - SWIFT: BNPASARI

  • Deutsche Bank AG Riyadh - Riyadh, Saudi Arabia - SWIFT: DEUTSARI

  • Emirates NBD PJSC Saudi Arabia - Riyadh, Saudi Arabia - SWIFT: EBILSARI

  • National Bank of Kuwait Jeddah - Jeddah, Saudi Arabia - SWIFT: NBOKSAJE

  • Standard Chartered Bank Dubai Branch - Dubai, Saudi Arabia - SWIFT: SCBLAEAD

  • The Saudi British Bank - Riyadh, Saudi Arabia - SWIFT: SABBSARI

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

Government MSME Agency

  • Capital Market Authority

    https://cma.org.sa/en/Pages/default.aspx

  • Industrial Participation Program

    -

  • Local Content and Government Procurement Authority (LCGPA)

  • Ministry of Finance

  • Nomu (Parallel Market)

  • Private Sector Financing Support Program

  • Small and Medium Enterprises General Authority (Monshaat)

  • Tadawul (Stock exchange)

  • Vision 2030

  • Agricultural Development Fund (ADF)

  • General Authority for Special and Economic Zones (Modon)

  • Government Tenders and Procurement Law (GTPL)

  • Saudi Arabian Military Industries (SAMI)

  • Saudi Export Development Authority (Saudi Exports)

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.

  • Saudi Food & Drug Authority - Food Sector
    Contact person: Dr. Rashed A. Alarfaj
    Phone: +966 11 203 8222 Ext: 3350
    Website: http://www.sfda.gov.sa

    3292 - Al Nafel Area

    [email protected]

TBT Enquiry Points

Technical Barriers to Trade (TBT) enquiry points are government agencies designated to answer questions about trade requirements.

  • Saudi Arabia Standards Organization (SASO)
    Phone: +966(1)4520133; ext:1380; ext.1382; ext.1383
    Website: http://www.saso.gov.sa

    P.O. Box 3437
    Riyadh

    [email protected]

Additional Information

 ePing alert

Links to other helpful resources

This section includes additional links to trade-related resources.

National Tariff Finder

 https://www.my.gov.sa/wps/portal/snp/servicesDirectory/servicedetails/11985/!ut/p/z0/04_Sj9CPykssy0xPLMnMz0vMAfIjo8zivQIsTAwdDQz9LQwNzQwCnS0tXPwMvYwN3A30g1Pz9L30o_ArAppiVOTr7JuuH1WQWJKhm5mXlq8fYWhoaWGqX5DtHg4ANAkveQ!!/

Trade Information Portal

 https://mci.gov.sa/en/Pages/default.aspx

Last Reviewed: June, 2023

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