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Saudi Arabia

Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 20% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 80% of budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Diversification efforts are focusing on power generation, telecommunications, natural gas exploration, and petrochemical sectors. Roughly ...  More..

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Economy of Saudi Arabia
SOURCE: CIA - The World Factbook
Currency Saudi Riyal
GDP (PPP) $585.8 billion (2009 est.)
GDP (per capita) $20,400 (2009 est.)
Exports $180.5 billion (2009 est.)
Imports $86.61 billion (2009 est.)
Main Industries Crude Oil Production, Petroleum Refining, Basic Petrochemicals, Ammonia, Industrial Gases, Sodium Hydroxide (Caustic Soda), Cement, Fertilizer, Plastics, Metals, Commercial Ship Repair, Commercial Aircraft Repair, Construction
Exports - Commodities Petroleum and Petroleum Products 90%
Imports - Commodities Machinery and Equipment, Foodstuffs, Chemicals, Motor Vehicles, Textiles
Exports Partners US 17.2%, Japan 15.3%, South Korea 10.2%, China 9.4%, India 5.9%, Taiwan 4.6%, Singapore 4.4% (2008)
Imports Partners US 12%, China 10.4%, Japan 7.6%, Germany 7.3%, South Korea 5.1%, Italy 4.7%, India 4.5%, UK 4% (2008)

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