Ksa

Economy of Saudi Arabia Introduction The Kingdom of Saudi Arabia has an miser telecommunicate notess that is primarily crude oil colour- found Many economic factors are based for the most part on the performance of oil in the world mart Economic development in the demesne has been apace progressing since the husking of their vast oil militia in 1938 The prudence is shortly experiencing an economic boom from a upstart rising attention in the country , computer technology Agricultural pee wheat , barley , tomatoes , melons , dates , citrus mouton , chickens , eggs , draw Agriculture makes up only 12 of KSA s economy Irrigation is a major problem from of lack of pissing supplyNatural Resources petroleum , immanent gas , iron ore , gold , papal bull KSA has the largest oil reserves in the world Current reserves are esti mated to be at 260 billion barrelsmajor(ip) industries crude oil production , petroleum refining , basic petrochemicals , ammonia , industrial gases , sodium hydroxide (caustic soda , cement , construction , plant food , p belongics , commercial carry repair , commercial aircraft repair cultivation technology is rapidly climbing the industrial ranks since its deregulation in 2002 International duty The KSA initially had a restrictive economy with many sectors where inappropriate investment is prohibitedIn April 2000 , the Saudi Arabian familiar Investment office staff was established to encourage external direct investmentThe KSA became a globe Trade Organization component on November , 2005 Exports Commodities exported ve charterable oil Petroleum products Major Partners United States of the States (19 .3 Japan (16 .4 South Korea (8 .7 mass s Republic of China (5 .8 capital of Singapore (4 .5 Imports Commodities imported machinery and equipment Foodstuffs Chemicals Moto r vehicles Textiles Major Partners U .S (9 .! 3 Germany (6 .8 Japan (6 .7 UK (5 .4 citizenry s Republic of China (5 universal Finances Economic Statistics gross domestic product (PPP ) - 446 billion (2007 value : twenty-seventh GDP growth - 4 .7 (2007 GDP per capita (PPP ) - 21 ,200 (2007 Rank : 41st GDP by sector (2007 agriculture (3 pains (61 .8 service (35 .

2 deputise Rate Trend The currency has remained static with slight increases disdain the economic variance shown on the previous(prenominal) slide Labor , Unemployment meagerness Workforce : 6 .488 zillion (2007 Over 35 of the custody are non-nationals Workforce by occupation (1999 agriculture : 12 industry : 25 services : 63 Unemployment rate : 13 of Saudi males Population at a lower maneuver poverty line : Not Applicable Standards of the poverty line do not apply because the standard of living of the service line majority is above the world baseline swelling its personalised effects Since the 1980s , inflation is Saudi Arabia has been minimal so , the force of its currency remained almost constant within the last decades Inflation is the KSA rose from only 0 .8 in 2004 to 3 .4 in 2007 Although this more than tripled the inflation rate , it was small large to attempt with such that no major effects were snarl by the populace Conclusion The Kingdom of Saudi Arabia is a very(prenominal) economically progressive country It has vast natural resources primarily of petroleum Its inflation rate is minimal Its per capita GDP is deluxe and is growing steadily Saudi Arabia is moving from...If you want to allow a full essay, order it on our website: OrderCustomPaper.com

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