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The economy of Saudi Arabia is dependent on oil and has strong government control over major economic activities. The Saudi economy is the largest in the Arab world. Saudi Arabia has the world's second-largest proven petroleum reserves and the country is the largest exporter of petroleum. It has also the fifth-largest proven natural gas reserves. Saudi Arabia is considered an "energy superpower". It has third highest total estimated value of natural resources, valued at US$34.4 trillion in 2016
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∙ 6y ago
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∙ 14y agoThe type of economy Saudi Arabia has is a command economy.
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∙ 6y agoPetroleum is a major source of money for Saudi Arabia. Saudi Arabia does have a high per capita income, however poverty does exist in the country.
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∙ 15y ago] ===
=Kelsey Dawsonville,GA 7th
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∙ 15y agoCapitalism and Absolute majority
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∙ 15y agoSaudi Arabia has acommand economy!
Ayaran Takaw Landuh
covid19
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∙ 11y agorepublic
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∙ 14y agomonarchy
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Is Saudi Arabia a capitalism economy?
Saudi Arabia, like the United States is a Capitalist Economy but the government does interfere with economy to regulate it. This is just like in USA where this happens in many incidents like FDR's New Deal
What is significant about Saudi Arabia's economy?
Saudi Arabia has the most oil reserves in the world
What is their economy like in Saudi Arabia?
the economy of saudi arabia is very nice, because this country are rich in many establishment, their country can provide the good quality of many products exactly the petroleum business.
How was Saudi Arabia effected by the great depression?
Saudi Arabia like other countries, was greatly effected by the Great Depression. Tourism plummeted in Saudi Arabia during the Great Depression and that brought less income into the economy.
What does Saudi Arabia's economy specialize in?
oil
Does Saudi Arabia has a command and mixed economy?
Does_Saudi_Arabia_has_a_command_and_mixed_economy
Countries command economy?
China, Saudi Arabia, and Vietnam.
What is Saudi Arabia's economy located?
oil well in jubil
What is every day life like in Saudi Arabia?
Life in Saudi Arabia...
What is the GDP of Saudi Arabia?
The Gross Domestic Product or GDP of Saudi Arabia is $381.9 billion US Dollars (2007 IMF statistics). Saudi Arabia is the 25th largest economy in the world based on GDP.
What is the Saudi Arabia economic system?
Saudi Arabia primarily has a market economy, but has many similarities with other petro-states which have an economy that is primarily fueled and driven by petroleum as opposed to industry and commerce.
What is the standard of living of Saudi Arabia?
Saudi Arabia is an important country in Middle East. It has an oil based economy which has helped people in Saudi Arabia to maintain a significantly high standard of living. Saudi Arabia's average annual income of 93,472 US dollars in one of the highest in the GCC region.
