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:

TRANSFER PRICING 2018

Countries Comparison


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

read full publication
 
TAX CARDS 2018

Countries Comparison


General Guide to Asia Pacific Countries Tax Facts

read full publication
 
ASIA PACIFIC TAXPRESSO - 2018

A quarterly Tax Publication


1st Issue - 2018

 

AGN News:


January 2018

Global Connect


AGN International Executive Office has coordinated with an organisation called “DFK International,” which, like AGN, is a high-quality, client-centered global accounting association. In order to make sure we always have the best resources for our members we are now able to call upon DFK firms, and vice versa. This provides the opportunity to further expand your connections with professionals, experts and referral sources

If you need a specific type of expertise anywhere in the world, contact your Regional Director and she will be able to make the right connection. 

read more
 

January 2018

New Chair for International Business Development Committee


The AGN International Business Development Committee (IBDC) names Tony Sokic of Adams & Miles in Toronto, Canada as new leader.

read more
 

AGN Firms in the country


Saudi Arabia
Al-Swailem Consulting Group
(P.O. Box 3007)
Al-Khobar 31952
Time Zone: GMT +3
Phone: (+966 3) 8979444
EMail: info@gbrc.sa
Al-Swailem Consulting Group
Steen Road
(P.O. Box19540)
Jeddah 21445
Time Zone: GMT +3
Phone: (+966 2) 6761932
EMail: info@gbrc.sa
Al-Swailem Consulting Group
Olay
Main Street Olaya
(P.O. Box 92658)
Riyadh 11663
Time Zone: GMT +3
Phone: +966 11 4655370
EMail: info@gbrc.sa
Hamad M Al-aufi Chartered Accountants & Financial Consultancy
PO Box 7158
Riyadh 11462
Time Zone:
Phone: (+966 11) 4643757
EMail: Alaufi@h-alaufiauditing.com.sa