Saudi Arabia

Saudi Arabia ranked No. 28 in total trade value through July with a total of $12.9 billion. Exports totaled $6.5 billion and Imports totaled $6.4 billion, a surplus of $97.35 million.

U.S. trade with Saudi Arabia rose to $12.9 billion through July

Saudi Arabia’s trade with the United States rose to $12.9 billion through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 22.69 percent below its total trade during the same time period last year. U.S. exports to Saudi Arabia decreased 16.71 percent while U.S. imports from Saudi Arabia fell 27.95 percent. The U.S. surplus with Saudi Arabia was $97.35 million.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Richmond, Calif.; No. 2 Port of Port Arthur, Texas; No. 3 Port of Houston; No. 4 Port of Texas City, Texas; and No. 5 Port of Philadelphia. During the same period the previous year, the top five were No. 1 Port of Richmond, Calif.; No. 2 Port of Port Arthur, Texas; No. 3 Port of Philadelphia; No. 4 Port of Wilmington, N.C. and No. 5 Port of Houston. In the current time period, the top five accounted for 37.19 percent of Saudi Arabia’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Richmond, Calif. fell 34.56 percent to $1.23 billion.
    There were no exports. Imports fell 34.56 percent to $1.23 billion.
  • Trade with No. 2 Port of Port Arthur, Texas fell 17.51 percent to $1.16 billion.
    There were no exports. Imports fell 17.51 percent to $1.16 billion.
  • Trade with No. 3 Port of Houston fell 9.89 percent to $914.95 million.
    Exports rose 7.22 percent to $728.38 million. Imports fell 44.47 percent to $186.57 million.
  • Trade with No. 4 Port of Texas City, Texas rose 104.65 percent to $829.88 million.
    Exports totaled $10.45 million. Imports rose 102.07 percent to $819.44 million.
  • Trade with No. 5 Port of Philadelphia fell 51.31 percent to $663 million.
    Exports fell 72.67 percent to $2.13 million. Imports fell 51.19 percent to $660.87 million.

Saudi Arabia ranked No. 28 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 28.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Saudi Arabia by value through July were the categories of Defense-related aircraft, parts; Passenger vehicles; Satellites, related equipment; Civilian aircraft, parts; and Bombs, grenades, cartridges, parts, respectively. They accounted for 33.85 percent of total exports to Saudi Arabia.

The value of the top five categories of U.S. imports from Saudi Arabia –– Oil; Gasoline, other fuels; Returned exports, without change; Aluminum plates, sheets, strip more than 0.2mm thi; and Cyclic hydrocarbons –– accounted for 94.09 percent of all inbound shipments.

Looking more closely at U.S. exports to Saudi Arabia:

  • Defense-related aircraft, parts rose 23.42 percent compared to last year to $656.58 million.
  • Passenger vehicles fell 16.13 percent compared to last year to $647.59 million.
  • Satellites, related equipment totaled $373.97 million. The previous year, there were no exports in this category.
  • Civilian aircraft, parts fell 50.08 percent compared to last year to $288.02 million.
  • Bombs, grenades, cartridges, parts fell 67.71 percent compared to last year to $234.22 million.

Looking more closely at U.S. imports from Saudi Arabia:

  • Oil fell 27.41 percent compared to last year to $5.33 billion.
  • Gasoline, other fuels fell 62.22 percent compared to last year to $267.26 million.
  • Returned exports, without change rose 34.9 percent compared to last year to $174.1 million.
  • Aluminum plates, sheets, strip more than 0.2mm thi rose 11.54 percent compared to last year to $148.68 million.
  • Cyclic hydrocarbons rose 456.22 percent compared to last year to $102.96 million.

In the latest annual figures available, Saudi Arabia recorded $27.73 billion in trade with the United States. Total U.S. exports to Saudi Arabia were $ 14.29 billion and imports from Saudi Arabia were $13.44 billion. The U.S. surplus with Saudi Arabia was $846.35 million.