Saudi private sector investments in the United States last year reached SR 1.58 trillion ($400 million), according to the chairman of the Jeddah Chamber of Commerce and Industry (JCCI), Arab News reported today.
Al-Fadl expects private sectors investments in both countries to increase significantly in the future. “The US is the main trade partner for the Kingdom. Saudi Arabia also ranks among the 15 most important trade partners for the United Sates. The volume of trade exchange between the two countries last year was SR 193.3 billion ($51.55 billion), compared to SR 157 billion ($41.86 billion) in 2006,” Al-Fadl said, adding Saudi imports from the US were SR 45.9 billion ($12.24 billion), a third of total imports into the Kingdom worth SR 147.4 billion ($39.3 billion).