SAUDI ARABIA ITF 408 – UĞUR KAPLAN

Capital City: Riyadh Language: Arabic Currency: Saudi Riyal (SAR) Government: King Abdullah bin Abdulaziz Population: GDP : billion $ 25,40 $ per capita

SAUDI ARABIAN–TURKISH RELATIONS refer to the current and historical relationship between Saudi Arabia and Turkey. The countries enjoy a friendly economic relationship. The former has an embassy in Ankara and a consulate–general in Istanbul; while the latter has an embassy in Riyadh and a consulate–general in Jeddah. Both countries are full members of the World Trade Organization (WTO)and the Organization of Islamic Cooperation (OIC). According to a 2013 Pew global opinion poll, Turks hold the most negative view of Saudi Arabia out of any surveyed Muslim country, with 26% expressing a favorable view and 53% expressing an unfavorable view.

Imports Saudi Arabia was Turkey’s 12th largest supplier of goods imports in Turkish goods imports from Saudi Arabia totaled 4,4 billion $ in 2012, up 27,8 % (3.45 billion $) from 2011 Exports Saudi Arabia was Turkey’s 12th largest goods export market in Turkish goods exports to Saudi Arabia in 2012 were 3.67 billion $, up 33% (2.76 billion $) from Trade Balance The trade deficit of goods with Turkey was 737 million $ in 2012 from 690 million $ deficit over 2011.

IMPORTS Machinery, mechanical appliances and electrical equipment (27%) Transport equipment and parts thereof (16%) Base metals (13%) Chemicals and related products (9%) Vegetables (6%) Main import partners are: China (13 %) United States (12.6 %) Germany (7%) Japan (6 %)

EXPORTS Crude Petroleum (76%) Refined Petroleum (5.7%) Ethylene Polymers (3.7%) Acyclic Alcohols (2.9%) Petroleum Gas (2.5%) Main export partners are: United States (14%) Japan (13%) China (12%) South Korea (10%) India (8%)

BALANCE OF TRADE Total Exports ($)$388,401,064,437 Total Imports ($)$155,593,039,024 Trade Balance ($)$232,808,025,413 Exports of goods and services (% of GDP) 52.01% Imports of goods and services (% of GDP) 30.77%

INVESTMENT Turkish foreign direct investment (FDI) stock in Saudi Arabia was 41 million $ by the end of 2012 (cumulative). Reported Turkish direct investment in Saudi Arabia is led by the retail and contracting sectors. FDI of Saudi Arabia in Turkey (stock) was 152 million $ for the year 2012.

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