Saudi Arabia And US Trade Volume Exceeds $500 Billion Over Past Decade

Trade between Saudi Arabia and the United States has exceeded $500 billion over the last ten years. This makes the US the Kingdom's second-largest import partner. Since 2020, trade volume has increased by over 50%, highlighting the robust economic ties between the two nations. This partnership boosts sector competitiveness, attracts quality investments, and expands trade cooperation, supporting economic growth for both countries.

In 2024, trade volume reached about $33 billion. Saudi Arabia's main exports were fertilizers and organic chemicals. The US primarily exported machinery, equipment, mechanical tools, and automobiles to Saudi Arabia, with these imports totaling $9 billion. Preliminary figures show that trade between these countries hit around $16 billion in the first half of 2025.

The Saudi-US Trade and Investment Framework Agreement (TIFA) Council is pivotal in strengthening trade relations. Chaired by the General Authority of Foreign Trade (GAFT), it monitors trade and investment ties. The council identifies expansion opportunities and removes obstacles hindering trade and investment flows. It also enhances business environments and facilitates communication among sectors in both countries.

The council has agreed on 27 initiatives across various fields such as standards, metrology, food, pharmaceuticals, artificial intelligence, and intellectual property. These initiatives aim to address trade and investment issues within a structured framework. Eleven Saudi government entities are involved in this effort to improve bilateral relations.

The GAFT is committed to developing bilateral trade through coordination councils and joint governmental committees. Its goal is to enable Saudi Arabia’s non-oil exports to penetrate foreign markets while overcoming challenges they face. By doing so, it aims to diversify the Kingdom's economy beyond oil dependency.

This strategic partnership not only strengthens economic ties but also supports mutual prosperity by enhancing competitiveness in vital sectors. It attracts quality investments and expands cooperation in various areas of interest for both nations.

With inputs from SPA