Unpacking a decade of US-Saudi trade ties amid Crown Prince visit

Saudi Arabia and the US maintain a robust economic partnership rooted in decades-long strong ties between the Arab region and world’s largest economies, solidifying their roles as major trade partners.

This partnership spans vital strategic sectors, most notably energy, defense industries, technology, and direct investment.

Against the backdrop of Crown Prince Mohammed bin Salman’s official visit to Washington, US, which kicked off today, Nov. 18, Argaam highlights the trajectory of US-Saudi trade over the last 10 years.

From 2015 to 2024, the total volume of trade exchange between the two countries reached approximately SAR 1.4 trillion.

Saudi exports totaled close to SAR 638 billion, while the Kingdom's imports from the US reached SAR 698 billion during the same period.

Annual bilateral trade peaked at SAR 166.3 billion in 2018, before plunging to an all-time low of SAR 86.16 billion in 2020 — attributed to the global trade and investment slowdown triggered by the COVID-19 pandemic.

Mineral products, organic chemicals, fertilizers, aluminum, and plastics are among Saudi Arabia’s top exports to the US.

Conversely, Saudi imports from the US are dominated by automobiles and their spare parts, aircraft and components, in addition to electrical equipment and medical devices.

Fostering this relationship is the establishment of the US Saudi Business Council in 2003, which facilitates bilateral commercial and investment activities while alleviating barriers to capital flow.

US direct investment in Saudi Arabia reached approximately SAR 68.3 billion by the end of 2024, representing 7% of the Kingdom’s foreign direct investments (FDIs). They were mostly concentrated the transport and storage, manufacturing, and wholesale/retail trade sectors, according to the Saudi Ministry of Investment.

Saudi Arabia is also a major holder of US debt, ranking 18th globally with $131.7 billion in Treasury bonds as of last July. Long-term bonds constituted 79% ($104.3 billion) of the total, while short-term bonds made up 21% ($27.4 billion).

As for the operational presence, the Kingdom hosts more than 1,300 US companies, with 200 of them having chosen Riyadh as their regional headquarters.

Likewise, the Public Investment Fund (PIF) held about $19.4 billion in the US market by the end of the third quarter of 2025, strategically focused on six American companies: Lucid Group, Electronic Arts, Uber, Take-Two Interactive, Alurion Technologies, and Clarivate.

Recent high-level engagement included US President Donald Trump's May visit to Riyadh — his first trip after his second inauguration, which yielded the signing of the Strategic Economic Partnership and a mining cooperation agreement.

At the subsequent Saudi-US Investment Forum, the Crown Prince affirmed the pursuit of $600 billion in partnership opportunities, aiming for a total of $1 trillion, building on the over 140 MoUs and agreements valued above $300 billion signed at the event, covering AI, energy, industry, supply chains, health, life sciences, finance, and asset management.

This accelerating momentum — from growing trade exchange to expanded investments and MoU signings — show that the Saudi-US economic partnership is set for a broader phase of strategic cooperation.

With the massive pipeline of bilateral projects and agreements, the next decade is expected to bring about greater economic integration and deeper investment opportunities between Riyadh and Washington, reflecting their influential economic standing regionally and internationally.