Saudi Arabia Economy 5-2-24

Nominal GDP $1.069437T, Per Capita GDP $32,586, Population 37,473,929, Debt to GDP 26.2%,

Inflation 2021-2023 11.45%, Unemployment 8.6%, Trade Surplus $111.2B, Labor force 67.9%,

Land area 830,000 sq miles. Arable land 1.6%. Desert land 30%. Urban 84.7%, Rural 15.3%. Clean water and sewer systems. 

Main Industries crude oil production, petroleum refining, petrochemicals, ammonia, industrial gases, sodium hydroxide, cement, fertilizer, plastics, metals, ship repair, aircraft repair, construction.

Exports $223.503B crude petroleum, refined petroleum, polymers, industrial alcohols, natural gas

Imports $112.3B machinery and equipment, chemicals, packaged medicine, motor vehicles, textiles, broadcasting equipment, telephones

Saudi Arabia exports petrochemicals, plastics, metal goods, construction materials and electrical appliances to some 90 countries. Petrochemical and other oil-based industries are concentrated at industrial cities in major urban centers.

Agriculture in Saudi Arabia is focused on the export of dates, dairy products, eggs, fish, poultry, fruits, vegetables and flowers to markets around the world after achieving self-sufficiency in the production of such products. Arable land is 1.6%

The Trade Surplus is $111.2B. This is possible when high oil prices are high. Saudi Arabia rides the oil price rollercoaster from $20/bbl to $100/bbl.

Trading partners India, UAE, US, Germany, Japan, Pakistan, UK, S Korea, Netherlands, Italy, China, Singapore, France, Egypt.

In 2021 the Saudi Ministry of Education merged the multiple Islamic subjects into one single book as part of a series of reforms to revamp the school education system. In addition, students are required to take six science subjects which are math, physics, chemistry, biology, geology and computer. Literacy rate is 99.38%.

Saudi Arabia borders Yemen, Oman, Jordan, Palestine, Iraq, the Persian Gulf Iran and the Red Sea, Kuwait, Qatar, Bahrain, and UAE.

Norb Leahy, Dunwoody GA Tea Party Leader