Saudi Arabia’s non-oil exports to the United States increased by 3.5% to SAR 5.3 billion during 2020, despite the decline in global trade as well as the record decline in oil imports, according to a recent statement issued by the US-Saudi Arabian Business Council (USSABC).
"Aluminum and its materials" was the largest Saudi non-oil export with a value of SAR 1 billion, followed by "organic chemicals" with a value of SAR 910 million, and "fertilizers" with a value of SAR 856 million.
|
Saudi non-oil exports to the US in 2020 |
||
|
Sector |
Value (SAR bln) |
Ratio (%) |
|
Aluminum and its materials |
1.00 |
19% |
|
Organic chemicals |
0.91 |
17% |
|
Fertilizers |
0.86 |
16% |
|
Precious and semi-precious metals, pearls and coins |
0.32 |
6% |
|
Special classification items |
1.80 |
34% |
|
Others |
0.4 |
8% |
|
Total |
5.3 |
100% |
The statement said the increase in Saudi exports of organic chemicals, precious and semi-precious metals, and textiles in 2020 reflects the greater economic transformation that is taking place in the Kingdom to develop a non-oil economy through investments in manufacturing,
petrochemical industries, and other emerging sectors through the Public Investment Fund (PIF) and national programs such as the National Industrial Development and Logistics Program (NIDLP).
It also mentioned that US exports to Saudi Arabia amounted to SAR 42 billion in 2020, led by “aircraft and their spare parts” with a value of SAR 7.2 billion, “reactors, boilers and machinery” with a value of SAR 6.2 billion, and “cars and spare parts” with a value of SAR 6.1 billion.
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