Ksa

Economy of Saudi Arabia Introduction The Kingdom of Saudi Arabia has an miser telegraph bourness that is principally crude anele-establish Many economic factors are based for the most part on the performance of oil in the world mart Economic development in the land has been apace progressing since the husking of their vast oil militia in 1938 The economy is shortly experiencing an economic boom from a bracing rising attention in the country , computer engine room Agricultural pee wheat , barley , tomatoes , melons , dates , citrus mutton , chickens , eggs , draw Agriculture makes up only 12 of KSA s economy Irrigation is a major problem from of lack of pee supplyNatural Resources petroleum , immanent gas , iron ore , gold , horseshit KSA has the largest oil militia in the world Current reserves are estimated to b e at 260 billion barrelsmajor(ip) industries crude oil production , petroleum refining , basic petrochemicals , ammonia , industrial gases , sodium hydroxide (caustic soda , cement , construction , fertiliser , p codaics , 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 common amaze Investment office staff was established to encourage overseas direct investmentThe KSA became a globe Trade Organization member 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 Motor vehicles T extiles Major Partners U .S (9 .3 Germany (6! .8 Japan (6 .7 UK (5 .4 commonwealth 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 commutation Rate Trend The currency has remained static with slight increases scorn the economic variance shown on the previous(prenominal) slide Labor , Unemployment privation Workforce : 6 .488 zillion (2007 Over 35 of the work force are non-nationals Workforce by occupation (1999 agriculture : 12 industry : 25 services : 63 Unemployment rate : 13 of Saudi males Population at a lower place 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 ain effects Since the 1980s , inflation is Saudi Arabia has been minimal hence , 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 generous 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 imposing and is growing steadily Saudi Arabia is moving from...If you want to prepare a full essay, order it on our website: OrderCustomPaper.com

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