Saudi Arabia is the largest trading economy in the Arab world, and the United States is one of its top three export partners.
At present, some of the major commodities that merchants are exporting to Saudi Arabia from the USA include:
· Mechanical and electrical equipment
· Transport equipment and after-sales parts
· Base metals
· Chemicals and associated products
According to the Central Department of Statistics & Information, the total imports to Saudi Arabia have increased 1.4 percent in 2021 as compared to that of 2020. The second-highest share of imports to this Arabian country came from the United States accounting for 11.4 percent of the total.
Since 2000, the Kingdom of Saudi Arabia has opened its door to globalization and been making efforts to become internationally integrated. The idea was to create more jobs for Saudi nationals and increase investments that spur new opportunities for businesses.
Generally, exporting commodities to overseas markets is often seen as a profitable move by entrepreneurs and both large and small companies. However, many companies lack capital and human resources to export their products directly to overseas countries.
In such cases, companies that are looking forward to exporting to Saudi Arabia from the USA can work with intermediaries that can bring expertise and resources on board to make exports easier and more reliable within budget.
Do you need help with exporting to Saudi Arabia from the USA? You can connect with us, Royale Global - a reputable US-based international trading company.
What to Know About Exports to Saudi Arabia from the USA
Saudi Arabia is one of the most developed economies in the region and, it has set up a free market economy framework. Here, a free-market economy is one where there can be voluntary exchange and the laws of supply and demand form the basis for the economic system without any intervention from the government.
While its government policies encourage commercial enterprises to do trade freely, a strict interpretation of the Islamic laws has restricted the range of policy options. Hence, commercial endeavors are limited as well. The good news is that there are fewer foreign exchange controls to promote an open economy.
The market is open because of its heavy reliance on imported goods and services. Its industrial base is not as strong, and that opens huge export opportunities for the outer world for exporting commodities, like electrical equipment and machinery, construction materials, desalination equipment and supplies, food products, consumer goods, and more.
In today’s time, the most important emerging sectors in Saudi Arabia are chemicals, information and technology, energy and water, industrial & manufacturing, healthcare and life sciences, mining and metals, transport & logistics, and tourism and entertainment.