Trade Policy and Regulations in Saudi Arabia
Foreign Trade in Figures
The foreign trade share in Saudi Arabia is nearly 90% of the GDP. The country recorded a highly significant trade surplus in 2008. Despite the falling oil prices, the country should show a positive balance in the forthcoming years.
Saudi Arabia's main export partners are the United States, China and Japan, followed by Germany and U.A.E., as well as the Southeast Asian countries. The country exports mainly crude oil (the black gold represents 90% of its exports), plastics, organic products and chemicals.
Its main import partners are the United States, Japan, China and Korea, followed by other Asian countries (India, Taiwan, Singapore). Saudi Arabia mainly imports vehicles, machinery, electrical equipment, iron, steel and food products.
In order to promote international trade, attract foreign investment and diversify the non-oil sectors, the government has announced plans to establish four "economic cities" in different regions of the country.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||69,800||90,214||115,134||95,552||102,000|
|Exports of Goods (million USD)||211,305||233,329||313,462||192,314||254,000|
|Imports of Services (million USD)||29,488||45,914||49,572||47,039||-|
|Exports of Services (million USD)||13,973||15,743||9,128||9,428||-|
|Imports of Goods and Services (Annual % Change)||25||22||-||-||-|
|Exports of Goods and Services (Annual % Change)||3||3||-||-||-|
|Trade Balance (million USD)||147,391||150,716||212,027||105,206||-|
|Current Account (million USD)||99,066||93,379||132,322||22,765||-|
|Foreign Trade (in % of GDP)||95||103||105||95||-|
|Imports of Goods and Services (in % of GDP)||32||38||37||43||-|
|Exports of Goods and Services (in % of GDP)||63||65||68||53||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|United Arab Emirates||3.6%|
|Other partnersClose extended list||49.1%|
(% of Imports)
|United Arab Emirates||2.5%|
|Other partnersClose extended list||54.6%|
- Main International Economic Cooperation
- Member of
World Trade Organisation
Member of the Arab League.
Member of the Cooperation Council for the Arab States of the Gulf . The country is also part of the Greater Arab Free Trade Area (GAFTA), a pact of the Arab League entered into force in January 2005 which aims to form an Arabic free trade area.
- Assessment of Commercial Policy
Country's commercial policy
Barriers to exchanges
Barriers to exchanges
Sanitary and phytosanitary barriers
- Average Customs Duty (Excluding Agricultural Products)
- Useful Resources
Saudi Arabia Department of Customs
- National Organization of Intellectual Property
Industrial Property Office (Patents): Directorate of Patents at King Abdul-Aziz City of Science and Technology is deemed as the "Patent Office" of the Kingdom.
Industrial Property Office (Marks): Ministry of Commerce and Industry - Trade Mark Section
Copyright Office: Ministry of Information - General Administration of Copyright.
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As of the date of this report, Saudi business and laws still favor Saudi citizens, and Saudi Arabia still has trade barriers, mainly regulatory and bureaucratic practices
U.S. Commercial Service Poland on 27 May 2010 related to Trade Policy and Regulations in Saudi Arabia
U.S. Department Of Commerce, Poland
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