Search results
Results from the WOW.Com Content Network
Location of Saudi Arabia. Saudi Arabia is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. The country's command economy is petroleum-based but slowly diversifying; in 2017 58% of budget revenues and 85% of export earnings came from the oil industry.
As of 2024, Saudi Arabia's GDP per capita has surpassed all other GCC countries except Qatar and the United Arab Emirates. Saudi Arabia's GDP per capita is estimated to be approximately $33,040 in nominal terms, ranking it 35th globally, and $70,333 in purchasing power parity (PPP) terms, ranking it as the 15th highest in the world [[15]]
This list is based on the Forbes Global 2000, which ranks the world's 2,000 largest publicly traded companies.The Forbes list takes into account a multitude of factors, including the revenue, net profit, total assets and market value of each company; each factor is given a weighted rank in terms of importance when considering the overall ranking.
In September 2016, Saudi Arabia and Russia agreed to cooperate in managing the price of oil, creating an informal alliance of OPEC and non-OPEC producers that was dubbed "OPEC+." By January 2020, OPEC+ had cut oil production by 2.1 million barrels per day (bpd), with Saudi Arabia making the largest reductions in production. [14]
The Citizen's Account Program in Saudi Arabia is a cash transfer program that started in December 2017. The program is adopted and implemented by The Ministry of Labor and Social Development. [1] Through the programme, citizens in Saudi Arabia get monthly payments from the state.
The currency is sorted by the Saudi Riyal, which can also be worked out in the US Dollar. [2] Currently Dhahran is within the highest GDP per capita in the Middle East after Qatar. Ranking the first in Saudi Arabia, Dhahran's Economic development is however reaching at a high level.
Saudi Arabia produces over 1.6 million m 3 (10 million bbl) per day of oil, [1] exporting 1.4 million m 3 (8.9 million bbl) per day. The government is investing over $71 Billion to increase oil production to near 1.9 million m 3 (12 million bbl) per day by 2009 and up to 2.0 million m 3 (12.5 million bbl) per day by 2015. [ 2 ]
Saudi Arabia is ranked 111th in comparison to the world with a birth rate of 18.51 births per 1,000 people in 2019. [8] The nation's death rate is ranked 220th worldwide with 3.3 deaths per 1,000 people. [8] Although birth rates have decreased in the last two decades, rates of decline fail to match the significant decline in death rates. [27]