Saudi-US Trade Exchange amounts to SR142 billion in 2016

Riyadh, Sha’ban 24, 1438, May 20, 2017, SPA — The Ministry of Commerce and Investment said that the volume of Saudi-US trade exchange between the Kingdom of Saudi Arabia and the United States of America in 2016 amounted to about SR142 billion representing SR65.6 billion as Saudi exports to the United States and SR75.8 billion as Saudi imports from the United States where the balance of trade is in favor of America by SR10.1 billion.
In a statement to Saudi Press Agency (SPA), the United States of America occupied 2nd position among the top ten importers from the Kingdom and the 1st position among the top ten exporters to the Kingdom in 2016.
The crude oils and fertilizers (Urea) topped the list of the most important Saudi goods exported to the United States of America.
The number of Saudi-American mixed projects operating in the Kingdom reaches about 588 companies, including 123 industrial companies and 436 service companies (non-industrial). The US investment activities in the Kingdom diversify in the fields of manufacturing, construction, administrative services and services of support, information and communication.
Within commercial cooperation and partnership between the two countries, the Kingdom of Saudi Arabia signed a memorandum of understanding in 2016 with General Electric (GE) Company for joint investments amounting to $3 billion in the strategic sectors in accordance with the Kingdom’s Vision 2030.
In the field of aviation, the two countries agreed in February, 2016 to establish a Saudi company in partnership with technological company for aviation and Sikorsky Company to develop, manufacture and produce the Black Hawk multi-purpose helicopter in the Kingdom. A number of agreements in the field of aviation were signed.
The Saudi-US strategic partnerships included an establishment of Sadara Chemicals Company.
–SPA
11:54 LOCAL TIME 08:54 GMT