The Kingdom of Saudi Arabia sits as the main economy in the Arab world and in terms of GDP, is 25% of the Gross Domestic Product; which mirrors the level of oil reserves when compared to the world. The imports in Saudi Arabia increased to almost 140000 million SAR in the second quarter of 2015 from just over 135000 Million SAR in the first quarter of 2015. On average, imports in Saudi Arabia averaged out at a level of 95000 Million SAR from around 1970 until 2015, reaching a high of 220000 Million SAR at the end of 2005 and a trough of around 2500 Million SAR at the end of 1968.
|Official Name (Local Language)||Al Mamlakah al Arabiyah as Suudiyah||Capital||Riyadh||Population||28,160,273||Currency||Saudi Riyal||GDP||$637.8 billion||Languages||Arabic||Telephone Dial In||966|
% Partner Share
United Arab Emirates
Petroleum oils and oils obtained from bituminou
Petroleum oils, etc, (excl. crude); preparation
Polypropylene, in primary forms
Polyethylene having a specific gravity >=0.94,
Polyethylene having a specific gravity <0.94, i
Wheat, barley, tomatoes, melons, dates, citrus; mutton, chickens, eggs, milk
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
Saudi Arabia is the largest economy in the Middle East and the richest Arab country. The policy of large-scale public works undertaken by the Government, as well as foreign direct investment and the soundness of the banking and ﬁnancial system, have enabled the country to become the number one regional economy and one of the largest in the world. However, the economy of Saudi Arabia is almost entirely based on oil. GDP growth has been gradually declining since 2015 to a point where the economy moved into a recession in 2017 (-0.5%).
Saudi Arabian Monetary Authority