WHAT SAUDI ARABIA EXPORTS
What Saudi Arabia Exports. This article is about What Saudi Arabia Exports. In this article we are trying to provide you good information about What Saudi Arabia Exports. We have arranged the information in this post to make you understand it easily. We hope that you can understand it well. Please check the information below.
What Saudi Arabia Exports
Saudi Arabia sends US$207.6 billion worth of goods around the globe in 2016, up by 8.2% since 2009 while the Great Recession kicked in and up by 3% from 2015 to 2016.
Saudi Arabia’s top 10 exports are focused, accounting for 94.1% of the overall value of Saudi’s global exports.
Based on data from the International Monetary Fund’s World Economic Outlook Database, Saudi Arabia’s total Gross Domestic Product amounted to $1.796 trillion as of April 2017. Therefore, exports accounted for about 11.6% of total Saudi economic output.
Considering Saudi Arabia’s population of 28.2 million people, its total $207.6 billion in 2016 exports translates to approximately $7,400 for every resident in that country.
Saudi Arabia’s unemployment rate was 5.7% as of October 2016 down from 5.6% in December 2015 based on Trading Economics.
These following export product groups displays the highest dollar value in Saudi global shipments during 2016. Also displayed is the percentage share each export category represents in terms of overall shipments from Saudi Arabia.
- Mineral fuels including oil: US$163.7 billion (78.9% of total exports)
- Plastics, plastic articles: $14.4 billion (7%)
- Organic chemicals: $7.6 billion (3.7%)
- Ships, boats: $2.4 billion (1.1%)
- Aluminum: $1.9 billion (0.9%)
- Machinery including computers: $1.6 billion (0.8%)
- Dairy, eggs, honey: $1.2 billion (0.6%)
- Vehicles : $1.1 billion (0.5%)
- Electrical machinery, equipment: $1.1 billion (0.5%)
- Gems, precious metals: $1 billion (0.5%)
Aluminum was the quickest-growing among the top 10 export categories, up by 262.5% in value over the 7-year period beginning in 2009.
In second place for growing export sales were plastics up by 128.1%.
Saudi-shipped organic chemicals positioned the third-quickest gain in value up by 52.3%.
The top 10 Saudi exports had only two decliners, specifically electrical machinery and equipment exports (down by -21.3%) and exported vehicles (down -14%).
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