Louisiana, situated along the Mississippi River in the southern United States, boasts a diverse economy and strategic geographical importance. In the year 2022, the state’s economic ties with Saudi Arabia strengthened significantly, marked by a notable 54.57 percent increase in exports from the Kingdom. This upward trend underscores the growing bilateral economic cooperation between Louisiana and Saudi Arabia.
Louisiana’s total exports to Saudi Arabia reached an impressive $734 million in 2022. The state’s primary export categories to the Saudi market include agricultural products ($383 million), petroleum and coal products ($120 million), and chemicals ($108 million). On the flip side, Louisiana’s imports from Saudi Arabia totaled $1.5 billion, with major imports comprising petroleum and coal products ($738 million), chemicals ($651 million), and oil and gas ($179 million).
In 2022, Louisiana imported a total of $38.2 billion. Meanwhile, exports amounted to $122.2 billion in goods to international markets, which helped support more than 555,000 Louisiana jobs. Petroleum and coal products, chemicals, primary metal manufactures, and oil and gas dominate Louisiana’s global export profile. These sectors represent the backbone of the state’s exports and offer lucrative opportunities for international investors looking to diversify their portfolios.
Apart from its energy-centric exports, Louisiana is also a hub for diversified manufacturing. The state is known for producing lumber and wood products, transportation equipment, metal products, and processed food. These manufacturing sectors contribute significantly to the overall economic diversity of Louisiana and present additional investment avenues for Saudi companies seeking stable and varied opportunities.
Louisiana’s economy currently ranks 26th in size among U.S. states and Washington, DC. During the first quarter of 2023, Louisiana accounted for 1.1 percent of the U.S. economy, accounting for $283.4 billion in goods and services per year. The state’s burgeoning economic ties with Saudi Arabia present an enticing prospect for global partners seeking trade and investment opportunities. The state’s robust export performance, particularly in key sectors such as petroleum, chemicals, and diversified manufacturing, signals a promising avenue for collaboration and investment. As Louisiana continues to demonstrate economic resilience and growth, Saudi investors are well-positioned to leverage the state’s diverse opportunities for mutual benefit and long-term success.
Visit https://www.opportunitylouisiana.gov/ for more information on the opportunities available to you in the state of Louisiana.
