The Treasurer’s Guide to Trade Finance

Saudi Arabia

Trade information

Key trading partners

Imports by origin

EU 31.9%

USA 13.6%

China 9.7%

Japan 8.7%

South Korea 4.5%

Other 31.6%

Source: WTO, September 2012

Exports by destination

Japan 26.8%

USA 17.5%

EU 7.1%

UAE 3.6%

India 1.4%

Other 43.6%

Singapore imports exports

currency and local currency bank accounts

in Saudi Arabia, but only if they have projects

or contracts in Saudi Arabia along with

appropriate documentation, approval from

SAMA and the Saudi Ministry of Commerce

& Industry, and a recommendation from a

rated bank. Authorised signatories require a

residential licence.

Principal exports

Petroleum and petroleum products.

Documentation

Imports

ƒ Commercial invoice, customs import

declaration, packing list, terminal handling

receipts, bill of lading and a cargo release

order.

Exports

ƒ Memorandum of understanding, packing

list, bill of lading, commercial invoice and

customs export declaration.

Licences

Imports

ƒ Chemical and pharmaceutical products,

animals, meat, seeds, books, tapes, movies,

archaeological artefacts, armaments,

ammunition, and some items containing

alcohol.

Exports

ƒ Fuels such as natural gas, oil and petroleum,

items of historical value, wheat and livestock.

Tariffs/Taxes

Imports

ƒ Most dutiable goods are subject to a

maximum tariff of 5 percent, although tariff

rates of either 12 percent or 20 percent apply

for some goods, and tobacco is subject to a

100 percent tariff.

ƒ Imports from GCC member states are

exempt from duties.

Exports

ƒ None.

Financing requirements for imports/

exports

ƒ None.

Prohibited items

Imports

ƒ Items that are prohibited for import for

religious, health and security reasons.

ƒ Imports from Israel are prohibited.

Exports

ƒ It is prohibited to re-export items that have

benefited from subsidies from the Saudi

Arabian government.

ƒ Exports to Israel are prohibited.