AGN Live Country Guides

Doing Business in Saudi Arabia

Updated in April 2017

The Kingdom of Saudi Arabia is the largest economy in the Arab world, with 25% of its GDP in the Arabic world. Is the largest trading partner for many countries, and is the only country from the Middle East in the G-20.

An oil-based economy, with a population of Over 30 million people (6 million foreign workers), the World Bank rates the income category to High income. The GDP was $646 billion in 2015, with an expected deficit of 19.5 of GDP due to lower oil revenues but also costs related to military actions in the region.

The public sector dominates the economy, oil is 45% of GDP and 90% of the revenues of the government. Their leaders are encouraging the growth of the private sector in order to diversify the economy and employ more Saudi nationals. As a result, manufacturing sector is growing and accounts less than 10%. Also the service sector is growing. With an effort to make more international business, the government has defined a plan to implement IFRS, mandatory for all companies registered.
Saudi Arabia is the 28th largest importer in the world. China is the main importer ($20.5B), followed by the United States ($15.4B), India ($13B), Germany ($11.5B) and South Korea ($8.29B).
Exports 2015 were 182B, mainly on crude petroleum (55.2%), with an annual decrease rate of  -13%.

Major reasons to do Business in Saudi Arabia are the growing diversification of the economy, major government investment in transport, infrastructure, education, healthcare and energy, common use of English in Business, no taxation on personal income and proximity to other markets around the Gulf. The government is developing policy changes to attract more Foreign Direct Investment.

Relationships with international businesses continue. In order to avoid the 'redundancy' risk of the use of static data about various countries, this portal incorporates various live data feeds from:

The World Bank
The observatory of Economic Complexity


The intention is to provide access to live information extracted from the regularly refreshed databases maintained by these organisations.

 

 

Use the navigations buttons below to access to more live data:
Inflation, Development indicators, Exports, Trade Balance, and more.

World Bank Development Indicators

Exports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods exported from Saudi Arabia.

Imports

This graph is taken from The Observatory of Economic Complexity (OEC). Products, represented by rectangles, are drawn from the 775 individual product classes found in the Standardized International Trade Code.

This graph shows volumes of goods imported into Saudi Arabia.

Trade Balance

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph illustrates the subsequent trade balance of exports and imports to and from Saudi Arabia.

Destinations

This graph is taken from The Observatory of Economic Complexity (OEC).

This graph shows the destinations of goods and services by country.

 

AGN Publications:

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Countries Comparison


A collection of transfer pricing summaries of countries in the Asia Pacific Region

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For further consultation on related items or previous years, get in touch with us 
 
TAX CARDS 2021

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For further consultation on related items or previous years, get in touch with us 
 
ASIA PACIFIC TAXPRESSO

A quarterly Tax Publication

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2020
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2018
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AGN Firms in the country


Saudi Arabia
AlSudais CPAs
Al Khobar Branch
Al- Khobar Corniche, 22nd street

Time Zone:
Phone: +966 535388404
EMail: diya.alsaeed@alsudaiscpa.com
AlSudais CPAs
Riyadh Branch
Al-Wadi District – Northern ring Road

Time Zone:
Phone: +966 54 877 9895
EMail: osamah.alsudais@alsudaiscpa.com
AlSudais CPAs
Jeddah Branch
Al Faisaliah District - Prince Fahd Road

Time Zone:
Phone: +966 535388404
EMail: diya.alsaeed@alsudaiscpa.com