Total bi-lateral trade between Saudi Arabia and the United States reached $39 billion in the first six months of 2012, a record high for any half to date. Below are some key US-Saudi trade figures for the first half (H1) of 2012 provided to SUSTG by the Saudi Commercial Office at the Royal Embassy of Saudi Arabia in Washington, D.C. using data from the International Trade Administration and U.S. Census Bureau.
H1 Saudi Exports to the United States:
- Totaled $30.2 billion representing a 42.98% increase over H1 2011.
- Non-oil exports in Q2 2012 were lower than non-oil exports in Q1 2012. However, Q2 2012 non-oil exports were up from the same quarter in 2011.
H1 Saudi Imports from the United States:
- Imports to Saudi Arabia increased in the first half along with exports, but the trade balance widened 45.1% to $21.4 billion in favor of Saudi Arabia.
- Saudi Arabia’s trade surplus of $21.4 billion was the largest for any half since 2008 H1, falling just short of the all-time half-year high of $21.44 billion.
Investment Flows:
- Net investment flows from the U.S. to Saudi Arabia reached $308 million in the 2012 Q1. Though trailing investment flows of the previous 2011 Q4, capital flows in 2012 Q1 were up 98.71% over 2011 Q1. The large investment increases in several sectors from the U.S. presents an opportunity for Saudi Arabia to better target priority sectors for investment.
Sources:
U.S. Census Bureau
International Trade Administration, U.S. Department of Commerce
Bureau of Economic Analysis, U.S. Department of Commerce
