Saudi Arabia | a country highly dependent on imports
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| Saudi Arabia: a country highly dependent on imports |
Saudi Arabia is located on the Arabian Peninsula in
Southwest Asia, bordering the Gulf to the east and the Red Sea to the west. It shares
borders with Jordan, Iraq, Kuwait, UAE, Oman, Yemen, and Egypt. Saudi Arabia
ranks first in the world in terms of oil reserves and production. At the same
time, oil is also the main pillar of Saudi Arabia's economy. In addition to oil
and accessories, Saudi Arabia relies on imports.
Abundant resources have nurtured this young country. The
population structure of Saudi Arabia is relatively young, and its purchasing
power is relatively strong. According to statistics, Saudi Arabia's population
aged 20-30 accounts for 70% of the total population, and the population under
20 accounts for 46%. Saudi Arabia has extensive consumption. There are royal
nobles and wealthy middle class and lower class people, and migrant workers
make up 2/3 of the total population.
Currently, Saudi Arabia implements a free market economy
policy. In recent years, the Saudi Arabian government has vigorously pursued
economic diversification, striving to expand non-oil production, developing
non-oil exploration and light industry, and attaching importance to
agricultural development. Saudi Arabia's economy is developing rapidly, and its
financing needs are increasing. In 2013, Saudi Arabia's GDP reached 745.3
billion U.S. dollars, a year-on-year increase of 3.8%, and it's per capita GDP
reached 25,500 U.S. dollars. The non-oil private sector in Saudi Arabia has
continued to grow in recent years, with a year-on-year growth of 5.5%. In
contrast, the construction, retail, transportation, communications, and non-oil
manufacturing industries grew by more than 5%. In 2014, Saudi Arabia ranked
sixth in the global retail trade index rankings.
Saudi Arabia ranks 15th among the world's most creditworthy
economies and 14th among 76 low-risk countries.
There are two important exhibitions in Jeddah and Riyadh,
Saudi Arabia-Saudi Arabia (Jeddah) International Trade Fair and Saudi Arabia
International Building Materials Fair. These two exhibitions can be described
as important platforms for Chinese companies to expand into the Saudi market.
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| The most beautiful places in Saudi Arabia for travelers from all over the world |
Jeddah
Jeddah is a port city on the Red Sea coast of Saudi Arabia.
It is the country's second-largest city, the largest port, and an important
financial center. It is also the residence of the Ministry of Foreign Affairs
and various embassies. Jeddah is located about 70 kilometers east of Mecca. As
the economic and trade center of Saudi Arabia, Jeddah's trade activities are
comparable to Dubai. King Abdullah Economic City has been built 100 kilometers
north of Jeddah, which functions as a special economic zone in China.
Saudi Arabia maintains good trade relations with China.
Since the establishment of diplomatic relations in 1990, the two countries'
economic and trade cooperation has developed rapidly. In 2013, the bilateral
trade volume between China and Saudi Arabia reached 75 billion US dollars, a
year-on-year increase of 15.7%. Among them, China imported 52.73 billion U.S.
dollars from Saudi Arabia, an increase of 11.2%; China exported 22.37 billion
U.S. dollars to Saudi Arabia, which increased 17.5%. China imports crude oil,
ethylene glycol, and liquefied petroleum gas from Saudi Arabia. ; China is the
main commodity exported to Saudi Arabia, including building materials,
mechanical and electrical products, textile and household products, auto parts,
and electronic products. Saudi Arabia is China's largest economic and trade
partner in the Middle East. At the same time, China has become Saudi Arabia's
largest export target and the second-largest source of imports. ?
Saudi Arabia (Jeddah) International Trade Fair is a
long-term comprehensive international trade fair in the Gulf region. The
exhibition has a good trade effect and enjoys a high reputation in the Middle
East.
In 2015, the 27th Saudi Arabia (Jeddah) International Trade
Fair was the largest in history, with an exhibition area of 40,000 square
meters. The exhibition attracted more than 500 exhibitors from more than 20
countries and regions. According to professional statistics, the exhibition
attracted 28,115 professional visitors from neighboring countries and regions
such as Saudi Arabia, UAE, Jordan, Bahrain, Kuwait, Lebanon, Yemen, Oman,
Egypt, etc., of which 70% were professional trade buyers and Haier and Hisense
China's well-known enterprises such as, Konka, Sany Heavy Industry, Jiangling
Motors, and others all attended the exhibition. During the exhibition, the
on-site transaction volume reached 67.16 million U.S. dollars, and the
intentional transaction volume was 135 million U.S. dollars. The cumulative
transaction volume exceeded
200 million US dollars
Business consultants from different countries' consulates in
Jeddah, Saudi Arabia, showed great importance to the exhibition and came to
observe it. The biggest highlight of this exhibition is the joint opening of a
special hall by the Organization of the Islamic Conference and the Islamic
Trade Development Center. This initiative was supported by the Islamic
Development Bank, Jeddah Chamber of Commerce and Industry, and the Saudi
Ministry of Commerce.
The next Saudi Arabia (Jeddah) International Trade Fair will
be held at the Jeddah International Exhibition Center on December 22-25, 2016.
Riyadh
From 2013 to 2020, Saudi Arabia has 285 civil construction
projects under construction or planned, totaling more than US$260 billion,
including government-invested construction and education projects of US$27
billion. According to a report by the State Commercial Bank of Saudi Arabia, in
the first half of 2013 alone, Saudi Arabia's power engineering costs reached
US$3 billion, residential projects reached US$1.5 billion, road construction
projects reached US$1 billion, and mixed-use real estate projects reached
US$533 million. Urban development projects reached 533 million US dollars.
Saudi Arabia is building six major economic cities across
the country, with a project investment of up to tens of billions of dollars.
Among them, the investment of King Abdullah Economic City is US$93 billion, and
the investment of Jizan Economic City is US$30 billion. Saudi Arabia will also
invest US$140.3 billion in power projects in the next 10 years to meet civilian
and industrial needs.
As a well-known building materials exhibition in Saudi
Arabia, every Saudi Arabia International Building Materials Exhibition will
attract major exhibitors from Saudi Arabia, the Middle East, Europe, the United
States, and other countries and regions. Thanks to many professional exhibitors
and visitors' participation, this exhibition has become an excellent platform
for establishing contacts, conducting business, and promoting sales. Saudi
Arabia International Construction and Building Materials Expo covers many
industries, including construction equipment, facilities, machinery, and
vehicles. In 2015, almost all exhibitors indicated that they would consider
continuing to participate in the 2016 exhibition.
In 2015, the Saudi Arabia International Building Materials
Exhibition attracted many manufacturers, distributors, traders, retailers,
agents, large-scale project developers and contractors, and more than 875
companies from 35 countries and regions. The national pavilions at the
exhibition include Austria, Belgium, Brazil, China, Egypt, France, Germany,
India, Italy, Jordan, South Korea, Pakistan, Portugal, Saudi Arabia, Spain,
Turkey, UAE, and the United Kingdom. The indoor exhibition area of the
exhibition is 29,400 square meters. There are 106 Chinese companies and 140
people in this exhibition. The total area of Chinese exhibitors is 1,400
square meters. It is the country with the largest number of exhibitors. The
second and third countries are Saudi Arabia and Turkey.
The 2016 Saudi Arabia International Building Materials Expo
will be held at the Riyadh International Convention and Exhibition Center from
October 17-21, 2016.
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Jeddah City, Riyadh City, the most beautiful place in Saudi Arabia. Travelers from all over the world. Saudi Arabia: a country highly dependent on import.
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