Economy overview: The economy of Saudi Arabia is based on oil production, the state controls the main areas of economic activity. Saudi Arabia has the largest oil reserves in the world (26% of all proven reserves) and has the status of the largest oil exporter, playing the first fiddle in OPEC. The oil industry provides approximately 75% of budget revenues, 40% of GDP and 90% of export revenues. Approximately 35% of GDP is the share of the private sector. About 4 million foreign workers make a significant contribution to the economy of Saudi Arabia, being employed, for example, in the oil industry and in the service sector. Saudi Arabia played a major role in the successful attempts by OPEC and other oil-producing countries to raise oil prices in 1999-2000 through production cuts. to the highest level since the Gulf War. Riyadh predicts in 2001 moderate budget deficit, due in part to rising spending on education and other social programs. In 1999, the government announced a forthcoming privatization of electricity companies, following the ongoing privatization of a telecommunications company. The government is expected to further expand the private sector in order to reduce the kingdom’s dependence on oil production and increase the number of jobs for the country’s rapidly growing population. Water scarcity and rapid population growth are hindering the government’s efforts to reduce dependence on agricultural imports. See topb2bwebsites.com to know more about Saudi Arabia in 2004.
GDP: at purchasing power parity – $232 billion (2000 est.).
Real GDP growth rate: 4% (2000 est.).
GDP per capita: at purchasing power parity – $10,500 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 6%; industry: 47%; services: 47% (1998 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 0.5% (2000).
Work force: 7 million people; note: 35% of the population aged 15 to 64 are foreigners (July 1998 est.).
Employment structure: agriculture 12%, industry 25%, services 63% (1999 est.).
Unemployment rate: no data.
Budget: revenues: $66 billion; expenditures: $66 billion, including capital expenditures – NA (2000 est.).
Economic sectors: crude oil production, oil refining, petrochemical industry, cement production, construction, fertilizer production, plastics.
Growth in industrial production: 1% (1997 est.).
Electricity generation: 120 billion kWh (1999).
Sources of electricity generation: fossil fuel: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 111.6 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: wheat, barley, tomatoes, melons, dates, citrus fruits; lamb, chicken, eggs, milk.
Export: $81.2 billion (free on board, 2000)
Export items: oil and oil products 90%.
Export partners: Japan 18%, USA 18%, France 4%, South Korea, Singapore, India (1999).
Imports: $30.1 billion (free on board, 2000)
Import articles: machinery and equipment, foodstuffs, chemicals, automobiles, textiles.
Import partners: USA 25%, Japan 10%, Germany 7%, Italy 5%, UK, France (1999).
External debt: $26.3 billion (2000 est.)
Donor of economic aid: donated $100 million in 1993 to the Lebanese Reconstruction Fund; Since 1993, Saudi Arabia has provided $208 million in aid to the people of Palestine.
Currency: Saudi rial.
Currency code: SAR.
Exchange rate: SAR/USD – 3.7450 (fixed since June 1986).
Fiscal year: calendar year.
Telecommunications Telephone lines: 3.1 million (1998).
Mobile cell phones: 1 million; note: in 1998, the government entered into an agreement to put into operation 575,000 additional GSM cellular telephone lines within 15 months, after which the number of subscribers exceeded 1 million people; in 1999, Riyadh plans to further expand the GSM system by 1 million lines (1998).
Phone system: modern; internal: extensive microwave radio relay and coaxial and fiber optic cable system; international: microwave radio relay with Bahrain, Jordan, Kuwait, Qatar, UAE, Yemen and Sudan; communication via coaxial cable with Kuwait and Jordan; submarine cable to Djibouti, Egypt and Bahrain; satellite earth stations -5 Intelsat (3 Atlantic Ocean and 2 Indian Ocean), 1 Arabsat and 1 Inmarsat (Indian Ocean region).
Broadcast stations: AM -43, FM -31, shortwave – 2 (1998).
Radio receivers: 6.25 million (1997)
Television broadcast stations: 117 (1997).
Televisions: 5.1 million (1997)
Internet country code: sa
Internet service providers: 42 (2001).
Number of users: 400,000 (2001).
Transport Railways: total: 1,390 km; standard gauge: 1,390 km (1.435 m gauge) (448 km double track) (1992).
Roads: total: 146,524 km; coated: 44,104 km; unpaved: 102,420 km (1997 est.)
Pipelines: for crude oil – 6,400 km; for petroleum products – 150 km; for natural gas – 2,200 km (including 1,600 km for liquefied gas).
Ports and harbors: Jeddah, Jizan, Duba, Mishab, Rabig, Ras Tanura, Ras Khafji, Ed Dammam, Al Jubail, Yanbu al-Bahr, Yanbu al-Sinaya,
Merchant fleet: in total: 71 vessels (of 1,000 tons displacement and over) with a total displacement of 1,154,619 gross register tons / 1,533,372 long tons of gross tonnage; different types of ships: cargo ships – 11, chemical tankers – 8, container ships – 5, liquefied gas tankers – 1, livestock ships – 3, passenger ships – 1, oil tankers – 18, refrigerated ships – 3, ferries – 13, coastal passenger ships – 8 (2000 est.).
Airports: 206 (2000 est.).
Airports with paved runways: total: 70; over 3,047 m: 31; from 2438 to 3047 m: 11; from 1,524 to 2,437 m: 23; from 914 to 1523 m: 3; less than 914 m: 2 (1999 est.).
Airports with unpaved runways: total: 136; from 2438 to 3047 m: 5; from 1,524 to 2,437 m: 77; from 914 to 1523 m:39; less than 914 m: 15 (2000 est.). Helipads: 5 (2000 est.).
Branches of the armed forces: ground forces (army), navy, air force, air defense forces, national guard, paramilitary forces of the Ministry of the Interior.
Enlistment age: 17 years old.
Total Military Manpower: Male 15 to 49: 5,894,691 (2001 est.).
Eligible for military service: men aged 15 to 49: 3,291,185 (2001 est.).
Number of persons reaching military age each year: male: 233,402 (2001 est.).
Military spending in dollar terms: $18.3 billion (2000)
Military spending as part of GDP: 13% (2000).
International issues International disputes: final border agreement with/Qatar reached in March 2001; the border with the UAE has not been finalized, the de facto border is the line established by the 1974 agreement; in June 2000, an agreement was concluded on the delimitation of the border with Yemen, but the final demarcation requires agreements based on the opinions of the tribes.
Illicit drugs: drug dealing is punishable by death; the use of heroin and cocaine is on the rise.