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Import News
26-03-2025
Saudi Arabia, strategically located at the crossroads of Europe, Asia, and Africa, plays a pivotal role in global trade. While the Kingdom is renowned for its vast oil reserves, its import activities are equally significant, reflecting a diverse and evolving economy. Tendata will unlock the exports and imports for Saudi Arabia by company.
In October 2024, Saudi Arabia's trade surplus expanded by 30% compared to September, reaching SAR 20.769 billion. This surge was propelled by robust exports, particularly in the oil sector. Total trade volume for October stood at SAR 164.794 billion, with exports contributing SAR 92.782 billion and imports at SAR 72.012 billion. In November 2024, Saudi Arabia's imports reached SAR 73.7 billion, marking a 13.9% year-on-year increase. This growth was primarily driven by:
Machinery, Electrical Equipment, and Parts: Accounting for 28.1% of total imports, this category saw a 22.4% rise, emphasizing the Kingdom's focus on technological advancement and infrastructure development.
Transportation Equipment and Parts: Representing 14.2% of imports, this sector experienced a 22% growth, highlighting investments in modernizing transportation infrastructure.
Key Import Partners:
The Kingdom's main import partners and their respective shares in total imports for Saudi Arabia are:
China: 27.3%
United States: 10.2%
United Arab Emirates: 5.3%
Other notable suppliers include Germany, Japan, South Korea, France, and Italy, reflecting Saudi Arabia's global trade connections.
According to Tendata Database, top 10 Imports for Saudi Arabia by Company are as follows:
1. TRAFIGURA PTE LTD (34.61%, $551.53 Milllion)
2. GLENCORE INTERNATIONAL AG (28.16%, $448.69 Milllion)
3. SAUDI MODERN CO FOR METALS CABLE AND PLASTIC INDUST (7.20%, $114.73 Milllion)
4. JEDDAH CABLE CO (7%, $111.49 Milllion)
5. TRAFIGURA ASIA TRADING (5.68%, $90.56 Milllion)
6. SAMSUNG C T SINGAPOUR PTE LTD (3.6%, $57.34 Milllion)
7. RIYADH CABLES GROUP COMPANY 2ND INDUSTRIAL CITY ZO (2.64%, $42.13 Milllion)
8. HUAYOU HONGKONG CO LTD (2.13%, $33.95 Milllion)
9. HONGKONG EXCELLEN MINING INVESTMENT CO LTD (1.39%, $22.16 Milllion)
10. SAMSUNG CT SINGAPORE PTE LTD (0.93%, $14.81 Milllion)
>>Get Report of Imports for Saudi Arabia<<
Export Highlights:
Oil Exports: In October, oil exports totaled SAR 67.399 billion, representing 72.6% of total exports.
Non-Oil Exports: Amounting to SAR 19.413 billion, these constituted 21% of total exports, indicating strides in economic diversification.
Non-oil exports were processed through 33 customs ports utilizing sea, land, and air routes. The King Fahd Industrial Port in Jubail emerged as the most significant, handling exports valued at SAR 3.775 billion, accounting for 15% of the total non-oil export value.
Regional Export Destinations:
The distribution of exports by region is as follows:
Asia (excluding Arab and Islamic nations): 52.2%
Gulf Cooperation Council (GCC) Countries: 13.1%
European Union: 13%
Top Export Destinations:
The leading countries importing goods from Saudi Arabia in October 2024 were:
China: 16.1% of total exports
India: 9.5%
Japan: 9.4%
>>Get Report of Exports for Saudi Arabia<<
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