Overview: The petroleum sector accounts for roughly 70% of budget revenues, 33% of GDP, and almost all export earnings. Saudi Arabia has the largest reserves of petroleum in the world, ranks as the largest exporter of petroleum, plays a leading role in OPEC, and invests substantial amounts abroad.

GDP: $79 billion, per capita $4,800; real growth rate 0.5% (1989 est.)

Inflation rate (consumer prices): 0% (1990 est.)

Unemployment rate: 0% (1989 est.)

Budget: revenues $31.5 billion; expenditures $38.2 billion, including capital expenditures of $6.9 billion (1990)

Exports: $28.3 billion (f.o.b., 1989 est.); commodities--petroleum and petroleum products 85%; partners--US 22%, Japan 20%, Singapore 7%, France 5%

Imports: $19.2 billion (f.o.b., 1989 est.); commodities--manufactured goods, transportation equipment, construction materials, processed food products; partners--UK 17%, US 15%, Japan 12%, FRG 6%

External debt: $18.9 billion (December 1989 est.)

Industrial production: growth rate - 1.1% (1989 est.); accounts for 37% of GDP, including petroleum

Electricity: 25,205,000 kW capacity; 50,500 million kWh produced, 2,950 kWh per capita (1990)

Industries: crude oil production, petroleum refining, basic petrochemicals, cement, small steel-rolling mill, construction, fertilizer, plastic

Agriculture: accounts for about 10% of GDP, 16% of labor force; fastest growing economic sector; subsidized by government; products--wheat, barley, tomatoes, melons, dates, citrus fruit, mutton, chickens, eggs, milk; approaching self-sufficiency in food

Economic aid: donor--pledged $64.7 billion in bilateral aid (1979-89)

Currency: Saudi riyal (plural--riyals); 1 Saudi riyal (SR) = 100 halalas

Exchange rates: Saudi riyals (SR) per US$1--3.7450 (fixed rate since late 1986), 3.7033 (1986), 3.6221 (1985)

Fiscal year: calendar year

NOTE: The information regarding Saudi Arabia on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saudi Arabia Economy 1991 information contained here. All suggestions for corrections of any errors about Saudi Arabia Economy 1991 should be addressed to the CIA.