On October 10, 2024, Albara’a Alwazir, the Director of Economic Research at the U.S.-Saudi Business Council (USSBC), presented an interactive webinar exploring the latest trends, opportunities, and insights from the USSBC’s exclusive economic report on the U.S.-Saudi Trade Relationship.
Moderated by USSBC Senior Vice President David Callahan, the webinar offered a dynamic question-and-answer session, where attendees received candid and expert responses from Mr. Alwazir and Mr. Callahan on critical topics impacting their business goals in both the U.S. and Saudi markets.
The webinar’s featured report, “U.S.-Saudi Trade Review 2024,” describes the dynamics of U.S.-Saudi trade and exports, particular products and sectors that are in most demand by each country, and changes in the overall relationship in the past year and historically. In particular, the webinar and report describe:
- Key drivers behind the 20 percent growth in U.S. exports to Saudi Arabia
- Analysis of the decline in Saudi oil exports and its impact on overall trade
- Trends in non-oil exports, including expansion into metals and industrial products
- Insights into how the U.S.-Saudi trade relationship is evolving in 2024 and beyond
The report summarizes the bilateral relationship by remarking that “despite the decline in the overall trade between both countries, the trade relationship between the two countries continues to evolve as Saudi non-oil exports expand beyond downstream petroleum industry products to metals and industrial manufactures while the U.S. remains the Kingdom’s second largest source of goods across a highly diversified export profile.”
Please see below for a recording of the webinar. To view all of the USSBC’s reports, click here. The USSBC’s next webinar on Mr. Alwazir’s latest report, the Q2 2024 Contracts Awards Index Report, is scheduled for November 20, 2024 – click here to register.
