Preview

GDP of Saudi Arabia

Satisfactory Essays
Open Document
Open Document
153 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
GDP of Saudi Arabia
TRADING
ECONOMICS

Saudi Arabia GDP Growth Rate
The Gross Domestic Product (GDP) in Saudi Arabia expanded 4.70 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Saudi Arabia averaged 5.27 Percent from 1969 until 2013, reaching an all time high of 27.49 Percent in the fourth quarter of 1974 and a record low of -11.10 Percent in the fourth quarter of 1982. GDP Growth Rate in Saudi Arabia is reported by the Central Department Of Statistics & Information.

Actual
Previous
Highest
Lowest
Dates
Unit
Frequency

4.70
4.00
27.49
-11.10
1969 - 2013
Percent
Quarterly

Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors. This page provides - Saudi Arabia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Date
GDP
2013
3.8 – 4
2012
5.8
2011
8.6
2010
7.4

You May Also Find These Documents Helpful

  • Best Essays

    Economic: The UAE GDP forecast for 2013 is around 4%, not dissimilar to the global market as a whole. There has been increased confidence and signs of recovery for the housing market in the region, giving off signs that the UAE is still a good investment proposition. This makes the UAE attractive to businesses, as well as employees, particularly due to its favourable tax policy.…

    • 4143 Words
    • 17 Pages
    Best Essays
  • Good Essays

    Gov Blog 18

    • 418 Words
    • 1 Page

    On this week’s episode of “GPS”, Fareed Zakaria interviewed a variety of guests to contribute on the issues of Saudi Arabia and the oil economy. He first spoke to Tony Blair, the former prime minister of the United Kingdom about the death of King Abdullah of Saudi Arabia. I found Blair to be the most interesting guest because of his personal opinion and experience with King Abdullah, and he described the king’s attitude in describing a country that in some ways is a very conservative country. Blair stated that Abdullah said that they were doing the change, but wanted to let the Saudis do it at their own pace. He also mentioned how he always have a debate as to whether Saudi Arabia should accelerate or and go faster and so on. In the end, Blair said that he believed that what Abdullah was really trying to do, was to create these vehicles of change in the country. Blair’s statement on using Saudi Aramco, the oil company, was that it is not run like many oil companies around the world but still actually is a really top well-run company. The university he established, the King Abdullah University of Science and Technology, featured men and women being treated equally and educated equally. Blair believes that the term science and technology was chosen for a reason, and claims that Abdullah’s view would be that he was moving as fast as he could. This rather favorable opinion of Saudi Arabia, a controversial country and oil power was very informative and helped create an interesting conversation. Another one of Fareed’s featured guests was Martin Wolf, who spoke about the oil economy. As an economist, Wolf believes that in the current oil situation, the Saudis have another possible choice, which is for them is to start cutting production. Wolf claims that this might raise oil prices, but he believes that they would then bear a disproportional part of the losses. It would depend on how they think that would affect other country's output and what they think the…

    • 418 Words
    • 1 Page
    Good Essays
  • Good Essays

    Econ

    • 993 Words
    • 4 Pages

    A5-3. In Saudi Arabia, gross domestic product (GDP) is less than gross national product (GNP). This means that…

    • 993 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Week6

    • 339 Words
    • 2 Pages

    According to Trading Economics, “The Gross Domestic Product (GDP) in the United States expanded 2 percent in the third quarter of 2011 over the previous quarter. Historically, from 1947 until 2011 the United States' average quarterly GDP Growth was 3.28 percent reaching an historical high of 17.20 percent in March of 1950 and a record low of -10.40 percent in March of 1958.” (Trading Economics, 2012)…

    • 339 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Sun Oil Sands History

    • 626 Words
    • 3 Pages

    14). By definition, commodities vary by price rather than by any substantial difference in their qualities (pg. 14). Price and supply are at the opposite ends of the spectrum, and are inversely proportional. It follows that whoever controls the supply controls the price, and for the last half-century the controls have been in the hands of the Organization of Petroleum Exporting Countries, or OPEC (pg. 14). While production figures vary from week to week, about half of the 80 million plus barrels of oil consumed around the world each day are produced and marketed by OPEC members. Among those members true power rests in the hands of Saudi Arabia. With the world’s largest conventional oil reserves and a highly developed and sophisticated production system, the Saudis have dominated global oil production for more than half a century. At least a third of all production from OPEC countries originates in Saudi Arabia (pg.…

    • 626 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    First of all, the leading number of oil reservoirs is located in the Middle East countries. These countries can consume the oil and gas products in low price range comparing to other global countries. In addition to this, Middle East oil and gas extraction organizations act as cartel regarding pricing and distributing the crude oil to the global market. Strong oil process control is the major reason behind the economic growth of several Middle East countries.…

    • 4663 Words
    • 19 Pages
    Powerful Essays
  • Satisfactory Essays

    Oman; looking Beyond Oil

    • 375 Words
    • 2 Pages

    Oman; Looking beyond Oil, oil which is 80% of Oman economy may be ending as early as 2020, so they need to find other ways to support their country. Sultan Qaboos, who disposed his father in 1970, began a program of Omanization. This started with educating the people of Oman, both women and men.…

    • 375 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Rostow Essay

    • 345 Words
    • 2 Pages

    In the 18th century, United Kingdom was the first to industrialize. Now, the UK is has the sixth largest economy in the world. They have GDP per capita of $35,690. Eighty percent of its people are in the tertiary sector, which includes banking, law, education, and government. Saudi Arabia, on the other hand, has a GDP per capita of only $16,620. Sixty percent of working Saudi people is in the secondary sector of industry. Fifty-five percent of Saudi Arabia’s GDP comes form oil.…

    • 345 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Crime Victimization Survey

    • 1186 Words
    • 5 Pages

    2. National Crime Victimization Survey: survey of statistics taken by victims. Does not gather for a homicide; data on victimization…

    • 1186 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Saudi Arabia’s economy today is very well based on the fact that they have been blessed with oil. “According to the Oil and Gas Journal, Saudi Arabia contains approximately 264 billion barrels of proven oil reserves (including 2.5 billion barrels in the Saudi-Kuwaiti shared "Neutral" Zone), amounting to around one-fifth of proven, conventional world oil reserves”.1 This clearly shows the dominance of Saudi Arabia in the oil market. Now there are other countries such as Iran who have become large producers giving less control to Saudi Arabia over the market share.…

    • 696 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Gdp Growth in China

    • 1473 Words
    • 6 Pages

    GDP has risen from Rmb362.4 billion in 1978, at the start of the reform period,…

    • 1473 Words
    • 6 Pages
    Good Essays
  • Satisfactory Essays

    Russia, China, and Saudi Arabia are the three countries most vulnerable to the overproduction of oil.…

    • 181 Words
    • 1 Page
    Satisfactory Essays
  • Best Essays

    Cultural Comparison Paper

    • 1403 Words
    • 6 Pages

    I decided to research Saudi Arabia because Saudi Arabia has been in the news a lot lately and I wanted to have a better understanding of the culture. There are a lot of stereotypes associated with Saudi Arabia and the Islam religion and I think that the best way to overlook these stereotypes is to learn more about the culture and gain an insider’s perspective. It is all too easy to judge a culture from the outside, but by becoming educated on the culture it may be easier to differentiate the good from the bad and the assumed from reality. For this essay, I researched the geographic and natural environment of Saudi Arabia, the economic and political systems, and the religion in Saudi Arabia as well as the impact it has on the culture.…

    • 1403 Words
    • 6 Pages
    Best Essays
  • Good Essays

    Us Vs Saudi Arabia

    • 1760 Words
    • 8 Pages

    Before oil was discovered in this desert land of Saudi Arabia, their only income was from the tax paid by t the pilgrims who wants to go to Mecca and Medina to perform their hajj. After oil was found in 1933, the Saudi’s ruler collaborated with Western company and created the Arabian American Oil Company (ARAMCO). The major shareholders in the company were mostly American’s oil corporation (HOS, Oil). This is because American’s company have better equipment and knowledge about oil than the Arabs. This company started to digging oil in Saudi Arabia until today. As Saudi Arabia’s oil has been label as “inexhaustible,” they really need a large amount of workers to help them with the production. ARAMCO was employing 16,000 people from different nationalities including Saudis and Americans by the year 1950 (Wawro 75). Thus, this can be seen that oil production in Saudi Arabia had open the employment which increase their living standard and economy…

    • 1760 Words
    • 8 Pages
    Good Essays
  • Better Essays

    Saudi Arabia is vital to the economy of the United States. The state has one of the largest oil reserves in the world (www.cfr.com). Saudi Arabian oil is exported at the rate of 1 million barrels of oil per day (US State Department). The United States economy is deeply tied to Saudi Arabian oil. Without Saudi Arabia as a nationally secure ally, the United States economy could collapse. Without Saudi Arabia as a nationally secure regional power, the worldwide economy could also suffer devastating blows (Kissinger, 141). Saudi Arabia also plays a central role in the Organization of the Petroleum Exporting Countries. Saudi Arabia is essentially one of the foremost powers in influencing global prices of oil. With…

    • 873 Words
    • 4 Pages
    Better Essays