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Source : The World Factbook 2002
This information was last updated on 9
December 2002
To review last updated (on 19 December, 2006)
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Economy - overview:
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This is an oil-based economy with strong government controls over major
economic activities. Saudi Arabia has the largest reserves of petroleum in
the world (26% of the proved reserves), ranks as the largest exporter of
petroleum, and plays a leading role in OPEC. The petroleum sector accounts
for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings.
About 25% of GDP comes from the private sector. Roughly 4 million foreign
workers play an important role in the Saudi economy, for example, in the
oil and service sectors. Riyadh expects to have a budget deficit in 2002,
in part because of increased spending for education and other social
programs. The government in 1999 announced plans to begin privatizing the
electricity companies, which follows the ongoing privatization of the
telecommunications company. The government is expected to continue calling
for private sector growth to lessen the kingdom's dependence on oil and
increase employment opportunities for the swelling Saudi population.
Shortages of water and rapid population growth will constrain government
efforts to increase self-sufficiency in agricultural products.
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GDP:
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purchasing power parity - $241 billion (2001 est.)
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GDP - real growth rate:
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1.6% (2001 est.)
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GDP - per capita:
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purchasing power parity - $10,600 (2001 est.)
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GDP - composition by sector:
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agriculture: 7%
industry: 48%
services: 45% (2000 est.)
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Population below poverty line:
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NA%
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Household income or consumption by
percentage share:
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lowest 10%: NA%
highest 10%: NA%
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Inflation rate (consumer prices):
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1.7% (2001)
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Labor force:
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7 million
note: 35% of the population in the 15-64 age group is non-national
(July 1998 est.)
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Labor force - by occupation:
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agriculture 12%, industry 25%, services 63% (1999 est.)
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Unemployment rate:
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NA%
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Budget:
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revenues: $42 billion
expenditures: $54 billion, including capital expenditures of $NA
(2002 est.)
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Industries:
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crude oil production, petroleum refining, basic petrochemicals, cement,
construction, fertilizer, plastics
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Industrial production growth rate:
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1% (1997 est.)
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Electricity - production:
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123.5 billion kWh (2000)
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%
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Electricity - consumption:
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114.855 billion kWh (2000)
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Electricity - exports:
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0 kWh (2000)
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Electricity - imports:
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0 kWh (2000)
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Agriculture - products:
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wheat, barley, tomatoes, melons, dates, citrus; mutton, chickens, eggs,
milk
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Exports:
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$66.9 billion (f.o.b., 2001)
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Exports - commodities:
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petroleum and petroleum products 90%
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Exports - partners:
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US 17.4%, Japan 17.3%, South Korea 11.7%, Singapore 5.3%, India (2000)
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Imports:
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$29.7 billion (f.o.b., 2001)
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Imports - commodities:
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machinery and equipment, foodstuffs, chemicals, motor vehicles, textiles
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Imports - partners:
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US 21.1%, Japan 9.4%, Germany 7.4%, UK 7.3% (2000)
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Debt - external:
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$23.8 billion (2001 est.)
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Economic aid - donor:
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pledged $100 million in 1993 to fund reconstruction of Lebanon; since 1993,
Saudi Arabia has committed $208 million for assistance to the Palestinians;
pledged $240 million to development in Afghanistan
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Currency:
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Saudi riyal (SAR)
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Currency code:
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SAR
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Exchange rates:
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Saudi riyals per US dollar - 3.7450 (fixed rate since June 1986)
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Fiscal year:
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calendar year
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Telephones - main lines in use:
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3.1 million (1998)
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Telephones - mobile cellular:
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1 million
note: in 1998, the government contracted for the installation of
575,000 additional Group Speciale Mobile (GSM) cellular telephone lines
over 15 months to raise the total number of subscribers to more than one
million; Riyadh planned to further expand the GSM system in 1999 by adding
an additional one million lines (1998)
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Telephone system:
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general assessment: modern system
domestic: extensive microwave radio relay, coaxial cable, and
fiber-optic cable systems
international: microwave radio relay to Bahrain, Jordan, Kuwait,
Qatar, UAE, Yemen, and Sudan; coaxial cable to 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)
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Radio broadcast stations:
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AM 43, FM 31, shortwave 2 (1998)
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Radios:
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6.25 million (1997)
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Television broadcast stations:
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117 (1997)
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Televisions:
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5.1 million (1997)
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Internet country code:
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.sa
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Internet Service Providers (ISPs):
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42 (2001)
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Internet users:
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570,000 (2001)
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This information was last
updated on 9 December 2002
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