Names: conventional long form: Kingdom of Saudi Arabia conventional short form: Saudi Arabia local long form: Al Mamlakah al Arabiyah as Suudiyah local short form: Al Arabiyah as Suudiyah
Capital City: Riyadh
Population: 27,019,731 note: includes 5,576,076 non-nationals (July 2006 est.)
GDP Per Capita: $13,800 (2006 est.)
Currency: Saudi riyal (SAR)
Languages: Arabic
Total Area: total: 2,149,690 sq km land: 2,149,690 sq km water: 0 sq km slightly more than one-fifth the size of the US
Region: Asia
Industries: crude oil production, petroleum refining, basic petrochemicals; ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics; metals, commercial ship repair, commercial aircraft repair, construction
Agriculture: wheat, barley, tomatoes, melons, dates, citrus; mutton, chickens, eggs, milk
Resources: petroleum, natural gas, iron ore, gold, copper
Labor Force:
7.125 million note: more than 35% of the population in the 15-64 age group is non-national (2006 est.)
agriculture: 12% industry: 25% services: 63% (1999 est.)
Exports:
$204.5 billion f.o.b. (2006 est.)
petroleum and petroleum products 90%
Imports:
$64.16 billion f.o.b. (2006 est.)
machinery and equipment, foodstuffs, chemicals, motor vehicles, textiles
Overview:
This is an oil-based economy with strong government controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly 5.5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. The government is promoting private sector and foreign participation in the power generation, telecom, natural gas, and petrochemical industries. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. With high oil revenues enabling the government to post large budget surpluses, Riyadh has been able to substantially boost spending on job training and education, infrastructure development, and government salaries.
In 2007 Missouri exported $129,814,017 in goods to Saudi Arabia. This ranks Saudi Arabia 21st among the 223 international buyers of Missouri goods. Missouri exports to Saudi Arabia increased from the previous year by $72,769,116 a change of 127.56%. State exports to Saudi Arabia have increased over the last 5 years by $80,147,724 a change of 161.37%. Missouri exports account for .97%. of all 2007 US exports to Saudi Arabia.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 49,666,293 | 27,393,360 | 25,412,040 | 32,131,302 | 57,044,901 | 129,814,017 | |
| 000 - Total All Industries US | 4,778,472,329 | 4,595,968,006 | 5,245,183,613 | 6,829,677,948 | 7,808,243,110 | 10,399,222,189 | |