During the first quarter of 2012, the value of non-oil exports from Saudi Arabia increased 11 percent, to nearly $12 billion, compared to the same period last year. The value of imports for this same period increased 18 percent, to more than $34 billion, the Central Department of Statistics and Information reported today. Over the years, Saudi Arabia has implemented a number of measures to promote economic growth, increase foreign investment and expand employment opportunities.
“The Saudi government is committed to diversifying its economy and maximizing opportunities for our people,” said Saudi Ambassador to the United States Adel bin Ahmed Al-Jubeir. “We are increasingly becoming a nation open to investment and development, and are a major force on the world economic stage.”
Saudi Arabia is the world’s 15th largest exporter and 31st largest importer of products and services. It is currently the 8th largest trading partner of the U.S., according to the U.S. Census Bureau.