Saudi Arabia’s trade patterns have been radically reshaped over the past decade, with the rise of China as a major trade partner coinciding with a steep decline in exports to the US. The kingdom’s exports are dominated by oil, and with the US shale revolution having transformed its once-largest trade partner into a net-exporter of oil, trade between the two countries has slumped.
The US now ranks in sixth place as an export market for Saudi Arabia. Saudi exports to the US totaled $13bn last year, not even close to the $45bn worth of goods that were shipped to China (see chart 1). Yet in 2013, the US was Saudi Arabia’s largest export market, worth $53bn for the kingdom. (CONTINUED - 712 WORDS)
