According to IMF data, the GDP in Saudi Arabia’s economy amounted to $ 833.5 billion in 2021. The growth rate compared to the previous year was 3.2%. GDP per capita was realized as $23,510 in 2021. It is estimated that Saudi Arabia will be one of the world’s largest growing economies in 2022 and its GDP will reach $1,010.0 billion due to the impact of trade reforms carried out in recent years and rising oil prices. In Saudi Arabia, the ratio of public debt stock to national income was realized as approximately 30% in 2021.

Table: Saudi Arabia’s Overall Economic Data

GDP ($ million)* 1.010,0
Growth Rate (%)* 7,6
World ranking in global GDP 18.
GDP per capita ($)* 27.940
Population 36,2
Export 267,6
Import 152,3
Foreign Trade Volume 419.9
World ranking in total trade volume 31.

Source: IMF, ITC Trademap
*According to IMF forecasts for 2022

Foreign Trade
The total foreign trade volume of Saudi Arabia reached $ 420 billion in 2021. During this period, exports amounted to $ 268 billion, imports amounted to $ 152 billion, while a foreign trade surplus of $ 116 billion was given. As of 2021, Saudi Arabia has the 31st largest trade volume in the world. he is in the position of his country.


Graphic: Saudi Arabia’s Foreign Trade over the Past 10 Year

Source: ITC Trademap

The mineral fuels product group occupies an important place in Saudi Arabia’s exports. mineral fuels accounted for approximately 77.0% of the total exports in 2021. While the export of the Plastics product group ranked second with a share of approximately 9.0%, the export of the Organic Chemicals product group ranked third with a share of 5.2%. Among the total imports of Saudi Arabia, the machinery product group ranks first with a share of about 10.5%. While the import of the Motor Vehicles product group ranks second with a share of approximately 9.9%, the import of the Electrical Machinery and Devices product group ranks third with a share of 9.2%.

When the countries to which Saudi Arabia exported the most in 2021 are examined, it is seen that China ranks first with $ 9.3 billion. China is followed by the United Arab Emirates with $ 5.5 billion and India with $ 4.9 billion. in 2021, China ranks first with $ 31 billion among the countries where Saudi Arabia imports the most, while the United States ranks second with $16 billion, and the United Arab Emirates ranks third with $13 billion. Dec.


May August 3, 1929, Turkey’s diplomatic relations with Saudi Arabia, signed “Muahedenet Muahedesi” (Friendship Agreement), the agreement was published in the Official Gazette dated May 31, 1930 and 1507 was established and entered into force. The agreement entered into force. The role of Turkey and Saudi Arabia, which have long-established relations, in the world economy and trade is gradually increasing. The economic and commercial breakthroughs realized in the two countries in recent years attract attention. In this context, the commercial relations between Turkey and Saudi Arabia are important both from a global and regional point of view. Dec.
Deciphering the foreign trade data between Turkey and Saudi Arabia, it is seen that the volume of foreign trade in the last 10-year period reached the level of $ 5.7 billion in 2015 and maintained its level above $ 5 billion until 2019. With the impact of the Covid-19 pandemic and the Deceleration of bilateral relations, a decrease in the volume of foreign trade between the two countries has been observed as of 2020.

Considering the data in 2019 as a base year, it is seen that the two countries carry out a significant level of trade with each other. in 2019, Turkey’s total exports to Saudi Arabia amounted to $ 3.3 billion. The share of Saudi Arabia in Turkey’s total exports in the relevant period is %.it is 1.8. In 2019, Saudi Arabia exported a total of approximately $ 2.0 billion to Turkey. Exports to Turkey account for 0.8% of Saudi Arabia’s total exports.

The product group with the highest exports from Turkey to Saudi Arabia in 2019 was Carpets with a value of $341 million and a share of 10.4%. Electrical Machinery and Devices were the second group with a share of $ 395 million and 6.6%, while Furniture was the third group with the highest exports with a share of $ 210 million and 6.4%. When the product groups that Saudi Arabia exported the most to Turkey in 2019 are examined, it is seen that Plastics ranked first with a share of $ 1.37 billion and 68.6%. Organic Chemicals ranked second with $ 381 million and a 19.0% share, while Mineral Fuels ranked third with $ 41 million and a 2.1% share.

Graphic: The Last 10 Years of Foreign Trade Between Turkey and Saudi Arabia


Source: TUIK
January September 2022 data covers the period.

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