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Did Saudi Arabia have a bad economy before the discovery of oil?
Wiki User
∙ 14y ago
About 80 years ago they live in the desert wondering from water well to water well ,until an American came and found oil, now they making billions, if you want to know more about Saudi Arabia the best thing to do is look at books that people have written about traveling around the KSA eg:A book called Arabian Sands by Wilfred Thesiger
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoHey there. To answer your question, all I can say is that Saudi Arabia virtually had nothing that would resemble an "economy" before the oil was discovered. So you can't say it had a bad economy because even though its GDP was non-existant, it had no debts whatsoever and was completely independant. Two things which became a faraway dream after KSA discovered oil in the ground.
Hope that answered your question :)
From,
An informed Saudi citizen
Wiki User
∙ 12y agoit was dry and desert like a very long time ago. i think.
Wiki User
∙ 11y agoThere were some good things like generosity, but there were also many bad things like killing one's daughter, drinking, worshiping statues and others.
Wiki User
∙ 13y agonot important.
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What is significant about Saudi Arabia's economy?
Saudi Arabia has the most oil reserves in the world
What is liquid gold in Saudi Arabia?
Because before the discovery of oil most of the people lived in rural areas. The discovery of oil changed the lives of the people of Saudi Arabia .No wonder then that oil is called Liquid Gold .
What does Saudi Arabia's economy specialize in?
oil
What is the economy like in Saudi Arabia?
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
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
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 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.
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 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.
