Saudi-Arabien Wirtschaftshandbuch Saudi Arabia Business ... - Ghorfa

40
entwicklung der handelsbilanz (in Mrd. uS$) 2002 2004 2005 2006 2007
Export 72,3 125,7 180,1 209,2 240,2
davon
Öl 63,6 110,4 161,1 188,6 216,2
Import 29,7 41,1 54,6 60,7 136,6
Saldo 42,6 84,6 125,5 148,5 103,6
Quelle: Saudi Arabian Monetary Agency, Annual report 2007, riyadh 2007; ciA World fact Book, Washington, 2008
development of the balance of trade
(in billion uS$) 2002 2004 2005 2006 2007
Exports 72.3 125.7 180.1 209.2 240.2
of wich
Oil 63.6 110.4 161.1 188.6 216.2
Imports 29.7 41.1 54.6 60.7 136.6
Balance 42.6 84.6 125.5 148.5 103.6
Source: Saudi Arabian monetary Agency, Annual report 2007, riyadh 2007; cIA world fact book, washington, 2008
trial goods remains far behind its potential if one looks
at Saudi Arabia’s strong industrial base in the MENA
region.
In light of the development of the oil price in recent years,
the total exports from Saudi Arabia have risen significantly.
The increase in exports from 72.3 billion US$ (2002)
to 240.2 billion US$ (2007) has more than tripled and
has risen by an annual average of 46%. The imports during
this period grew by an annual average of 60% from
29.7 billion US$ (2002) to 136.6 billion US$ (2007).
Industrial plants, machines, transportation equipment
and food goods head the import list. Due to the continuing
economic boom, imports of investment goods in particular
grew enormously in 2007 meaning that the total
volume of the imports in this year more than doubled. According
to the Central Bank, the main supplier countries
were in 2006 were the USA (14.7%), Germany (8.2%),
Japan (8.0%), China (8.7%), Great Britain (4.0%) and
Italy (3.9%). The main customers in 2006 were the USA
(share: 14.7%), China (8.7%), Germany (8.2%), Japan
(8.0%), Great Britain (4.0%) and Korea (3.8%).
Due to higher export levels, the balance of trade permanently
shows an active trade balance despite the fast
growing levels of imports since 2005. On the other hand,
the service balance is passive. This is a result of the transfers
of the guest workers to their home countries. Other
reasons for this deficit lie in the sinking levels of incoming
investment revenues and the growing insurance and
shipping costs. As a result of the high surplus levels in the
balance of trade, Saudi Arabia has had a trade surplus
for some years; however the active balance on current account,
which totalled 90.1 billion US$ in 2005 and 95.5
billion US$ in 2006, has been reduced to 69.4 billion
US$ in 2007 (preliminary estimate) due to the increase
in imports.
The positive output balance and the growing level of foreign
direct investment are the decisive factors behind the
fact that Saudi Arabia’s balance of payments have predominantly
been in surplus since 2000 (one exception
was the year 2002). The active balance of payments is an
important criteria for the country’s currently stable foreign
trade balance.