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
The type of economy Saudi Arabia has is a command economy.
Petroleum 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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=Kelsey Dawsonville,GA 7th
Capitalism and Absolute majority
Saudi Arabia has acommand economy!
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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
Saudi Arabia has the most oil reserves in the world
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.
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.
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China, Saudi Arabia, and Vietnam.
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Life in 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.
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.
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.