Saudi-US trade and investment volume hits $55bn, US Embassy in Riyadh reveals 

The volume of trade and investment between the Kingdom and the US is now more than double the $24.7 billion recorded in 2021 (Shutterstock) 
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Updated 05 May 2023
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Saudi-US trade and investment volume hits $55bn, US Embassy in Riyadh reveals 

RIYADH: Trade between the US and Saudi Arabia has rocketed by 122 percent since 2021, according to new figures released by the North American country’s embassy in Riyadh. 

The volume of trade and investment between the Kingdom and the US is worth $55 billion, more than double the $24.7 billion recorded in 2021. 

The figure was revealed as the embassy announced the launch of the Shared Vision series, a project to highlight the most prominent contributions of US companies in various sectors throughout the Kingdom, according to a statement. 

“From healthcare to construction, consumer goods, technology and much more, American companies across sectors are contributing to Saudi Arabia’s Vision 2030 reforms and economic diversification,” said James Goulson, adviser on commercial affairs at the US Embassy in Riyadh. 

“We believe that Saudi talents can partner with Americans to lead American companies in the Kingdom,” he added before saying: “We are committed to supporting the Kingdom’s economy and encouraging more US businesses to open in Saudi Arabia.” 

In June 2022, the US Chamber of Commerce organized a Saudi-US business forum in Washington, attended by a high-level delegation from the Kingdom, including the minister of commerce. 

During the forum, Majid Al-Qasabi stressed the deep-rooted trade relations between the two countries. 

The minister also highlighted that Saudi reforms aimed at diversifying the economy and developing trade and investment in the Kingdom are attributed to the Vision 2030 program launched by Crown Prince Mohammed bin Salman in 2016. 

The Saudi delegation also held workshops and discussions with US business figures, which saw the participation of entrepreneurs from large, medium and small enterprises in the Kingdom. 


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.