Saudi Arabia is a country in Western Asia located on the Arabian Peninsula. It borders Jordan and Iraq to the north, Kuwait, the United Arab Emirates and Qatar to the east, the Red Sea to the west and Oman and Yemen to the south. It has an area of 2,149,690 km2 and its capital and largest city is Riyadh, with a population of 8,002,100 inhabitants.
Foreign trade
Tags: Saudi Arabia , Internationalization , SMEs
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The main objective of bilateral relations between Spain and Saudi Arabia is to strengthen economic interests between the two countries. The design, construction and operation of the first high-speed train between Medina and Mecca, as well as the awarding of 3 Riyadh metro lines to the consortium led by FCC, is a symbol of some of the achievements that have been made and may be a starting point for new business milestones.
In 2018, Spanish exports increased by 3.5% due to the export of railway material, which increased by 54%, as well as aircraft and construction materials, whose exports increased by almost 300%. Similarly, imports increased by 26%, mainly as a result of the increase in the value of imported oil by more than 31%. The result was a trade deficit in 2018 of 2,304 million euros.
Saudi Arabia's state infrastructure programme and economic mexico cell phone number lookup business diversification policy provide an optimal platform for bringing new economic sectors into the picture.
With these prospects, the Spanish company has opportunities for growth and internationalisation, through its presence in this market and through Spanish investment in this country. Some sectors of interest are those related to fluid handling, renewable energies, materials for the electrical sector, materials and machinery for construction, food products, hospital management, machinery for the food industry, tourism, leisure, etc.
Are you interested in market analyses of other countries? Check out the foreign trade section . If you also want to internationalize your business, find out about the chambers of commerce programs: Xpande and Xpande Digital .