Saudi Arabia, US deepen trade and investment ties with $54 billion in FDI in 2023
Saudi Gazette report
RIYADH — Saudi Arabia and the United States are reinforcing nearly a century of strategic partnership with expanded trade and investment collaboration, as is expected to be highlighted by the Saudi–U.S. Investment Forum 2025, which will be held in Riyadh on May 13. The forum, to be hosted by the Saudi Ministry of Investment, marks a pivotal moment in bilateral economic relations, aligning with the Kingdom's Vision 2030 agenda.
In 2024, trade between the two nations reached $32.5 billion, with Saudi Arabia exporting $12.8 billion in goods to the U.S., including nearly $3 billion in non-oil products. The Kingdom's top exports included mineral products ($10 billion), fertilizers ($830 million), and organic chemicals ($526 million). Conversely, the United States exported $19.7 billion worth of goods to Saudi Arabia, led by machinery and appliances ($5.1 billion), vehicles ($2.6 billion), and medical and optical apparatus ($1.5 billion).
The United States remains the largest foreign investor in Saudi Arabia, with foreign direct investment (FDI) stock totaling $54 billion as of 2023—accounting for 23 percent of all FDI in the Kingdom.
Key American investments span transportation and storage ($25.3 billion), manufacturing ($13 billion), and retail ($2.4 billion). U.S. companies currently hold 1,266 investment licenses in Saudi Arabia, including 440 issued in the past year alone, and operate around 200 regional headquarters in the Kingdom.
American firms play a significant role in employment, generating over 80,000 jobs in Saudi Arabia—more than half of which are held by Saudis. Notably, these are high-quality roles, offering salaries approximately four times higher than the national average in foreign companies.
On the investment outbound front, Saudi capital continues to find a second home in the U.S., with an estimated $75 billion in Saudi FDI stock in the American market. Major contributors include the Public Investment Fund (PIF), Saudi Aramco, and SABIC. Additionally, U.S. financial institutions have played a critical role in channeling global capital toward the Kingdom, with firms like BlackRock mobilizing diverse international investors—including Asian sovereign funds—into Saudi projects.
The forum, set to be held in conjunction with the visit of U.S. President Donald Trump, aims to strengthen cooperation across key sectors including energy, infrastructure, technology, financial services, and healthcare, positioning both nations for shared economic growth amid global shifts.
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