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Saudi-US trade exchange amounts to more than $37 bln in 2016

Published: Updated:

The United States occupied the second spot among the top 10 importers from the Kingdom of Saudi Arabia, and the first among the top 10 exporters to Kingdom tilting the balance of trade in favor of the US, according to the Saudi Press Agency (SPA).

According to the Ministry of Commerce and Investment, the Saudi-US trade exchange in 2016 reached a total of around SR142 (around $38 bln) billion, representing SR65.6 billion in Saudi exports to the United States and SR75.8 billion as Saudi imports.

SPA reported that crude oils and fertilizers (Urea) are the two most important Saudi goods exported to the US.

There are around 588 companies, both industrial and non-industrial, operating in Saudi Arabia that are engaged in Saudi-American projects.

The two countries have agreed on many partnerships in various sectors and the companies involed are, including an aviation company called Sikorsky in aviation, Sadara in chemicals , as well as the US technology and engineering conglomerate General Electric (GE) for joint investments in accordance with the Kingdom's Vision 2030.