Saudi Arabia - Economic Indicators
Oil Price Outlook: Hanging by a Thread
Apr 16, 2024
The most dire sequence of events for oil prices would be a harsh Israeli response to Iran’s attack that brings the countries closer into confrontation. Such an escalation could bring the two countries to the brink of war, send oil to $100 per barrel and send gasoline to $4 per gallon. Our baseline outlook calls for Israel to choose the path of de-escalation. Iran’s attack on Israel has put the oil market on high alert. At a time when...
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| GDP | Reference | Last | Previous | Units | Frequency |
|---|---|---|---|---|---|
| Real Investment | 2017 | 657,166,000,000 | 689,168,000,000 | NCU | Annual |
| Investment | 2017 | 724,214,000,000 | 748,108,000,000 | NCU | Annual |
| Labor | Reference | Last | Previous | Units | Frequency |
| Agriculture Employment | 2017 | 865,746 | 810,448 | # | Annual |
| Total Employment | 2016 Q2 | 11,686 | Ths. | Quarterly | |
| Markets | Reference | Last | Previous | Units | Frequency |
| Stock Market Index | Feb 2024 | 196.63 | 192.17 | Index Jan2010=100, NSA | Monthly |
| Business | Reference | Last | Previous | Units | Frequency |
| Industrial Production | Oct 2016 | 34,400,000,000 | 33,400,000,000 | 2010 USD, NSA | Monthly |
| Demographics | Reference | Last | Previous | Units | Frequency |
| Net Migration | 2017 | 590,000 | # | Annual |
Factbook
Background
Background:
Saudi Arabia is the birthplace of Islam and home to Islam's two holiest shrines in Mecca and Medina. The king's official title is the Custodian of the Two Holy Mosques. The modern Saudi state was founded in 1932 by ABD AL-AZIZ bin Abd al-Rahman Al SAUD (Ibn Saud) after a 30-year campaign to unify most of the Arabian Peninsula. One of his male descendants rules the country today, as required by the country's 1992 Basic Law. Following Iraq's invasion of Kuwait in 1990, Saudi Arabia accepted the Kuwaiti royal family and 400,000 refugees while allowing Western and Arab troops to deploy on its soil for the liberation of Kuwait the following year. The continuing presence of foreign troops on Saudi soil after the liberation of Kuwait became a source of tension between the royal family and the public until all operational US troops left the country in 2003. Major terrorist attacks in May and November 2003 spurred a strong ongoing campaign against domestic terrorism and extremism.
From 2005 to 2015, King ABDALLAH incrementally modernized the Kingdom. Driven by personal ideology and political pragmatism, he introduced a series of social and economic initiatives, including expanding employment and social opportunities for women, attracting foreign investment, increasing the role of the private sector in the economy, and discouraging businesses from hiring foreign workers. Saudi Arabia saw some protests during the 2011 Arab Spring but not the level of bloodshed seen in protests elsewhere in the region. Shia Muslims in the Eastern Province protested primarily against the detention of political prisoners, endemic discrimination, and Bahraini and Saudi Government actions in Bahrain. Riyadh took a cautious but firm approach by arresting some protesters but releasing most of them quickly and by using its state-sponsored clerics to counter political and Islamist activism.
The government held its first-ever elections in 2005 and 2011, when Saudis went to the polls to elect municipal councilors. In December 2015, women were allowed to vote and stand as candidates for the first time in municipal council elections, with 19 women winning seats. King SALMAN bin Abd al-Aziz Al Saud ascended to the throne in 2015 and placed the first next-generation prince, MUHAMMAD BIN NAIF bin Abd al-Aziz Al Saud, in the line of succession as Crown Prince. He designated his son, MUHAMMAD BIN SALMAN bin Abd al-Aziz Al Saud, as the Deputy Crown Prince. In March 2015, Saudi Arabia led a coalition of 10 countries in a military campaign to restore the legitimate government of Yemen, which had been ousted by Huthi forces allied with former president ALI ABDULLAH al-Salih. The war in Yemen has drawn international criticism for civilian casualties and its effect on the country’s dire humanitarian situation. In December 2015, then Deputy Crown Prince MUHAMMAD BIN SALMAN announced Saudi Arabia would lead a 34-nation Islamic Coalition to fight terrorism (it has since grown to 41 nations). In May 2017, Saudi Arabia inaugurated the Global Center for Combatting Extremist Ideology (also known as "Etidal") as part of its ongoing efforts to counter violent extremism. In June 2017, King SALMAN elevated MUHAMMAD BIN SALMAN to Crown Prince. In September 2017, King SALMAN issued a royal decree recognizing the right of Saudi women to drive beginning in June 2018.
The country remains a leading producer of oil and natural gas and holds about 16% of the world's proven oil reserves as of 2015. The government continues to pursue economic reform and diversification, particularly since Saudi Arabia's accession to the WTO in 2005, and promotes foreign investment in the Kingdom. In April 2016, the Saudi government announced a broad set of socio-economic reforms, known as Vision 2030. Low global oil prices throughout 2015 and 2016 significantly lowered Saudi Arabia’s governmental revenue. In response, the government cut subsidies on water, electricity, and gasoline; reduced government employee compensation packages; and announced limited new land taxes. In coordination with OPEC and some key non-OPEC countries, Saudi Arabia agreed cut oil output in early 2017 to regulate supply and help elevate global prices.
Geography
Location:
Middle East, bordering the Persian Gulf and the Red Sea, north of Yemen
Geographic coordinates:
25 00 N, 45 00 E
Map references:
Middle East
Area:
total: 2,149,690 sq km
land: 2,149,690 sq km
water: 0 sq km
country comparison to the world: 14
Area - comparative:
slightly more than one-fifth the size of the US
Area comparison map:
Land boundaries:
total: 4,272 km
border countries (7): Iraq 811 km, Jordan 731 km, Kuwait 221 km, Oman 658 km, Qatar 87 km, UAE 457 km, Yemen 1,307 km
Coastline:
2,640 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 18 nm
continental shelf: not specified
Climate:
harsh, dry desert with great temperature extremes
Terrain:
mostly sandy desert
Elevation:
mean elevation: 665 m
elevation extremes: lowest point: Persian Gulf 0 m
highest point: Jabal Sawda' 3,133 m
Natural resources:
petroleum, natural gas, iron ore, gold, copper
Land use:
agricultural land: 80.7%
arable land 1.5%; permanent crops 0.1%; permanent pasture 79.1%
forest: 0.5%
other: 18.8% (2011 est.)
Irrigated land:
16,200 sq km (2012)
Population - distribution:
historically a population that was mostly nomadic or semi-nomadic, the Saudi population has become more settled since petroleum was discovered in the 1930s; most of the economic activities - and with it the country's population - is concentrated in a wide area across the middle of the peninsula, from Ad Dammam in the east, through Riyadh in the interior, to Mecca-Medina in the west near the Red Sea
Natural hazards:
frequent sand and dust storms
volcanism: despite many volcanic formations, there has been little activity in the past few centuries; volcanoes include Harrat Rahat, Harrat Khaybar, Harrat Lunayyir, and Jabal Yar
Environment - current issues:
desertification; depletion of underground water resources; the lack of perennial rivers or permanent water bodies has prompted the development of extensive seawater desalination facilities; coastal pollution from oil spills
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution
signed, but not ratified: none of the selected agreements
Geography - note:
Saudi Arabia is the largest country in the world without a river; extensive coastlines on the Persian Gulf and Red Sea provide great leverage on shipping (especially crude oil) through the Persian Gulf and Suez Canal
People & Society
Population:
28,571,770 (July 2017 est.)
note: immigrants make up 37% of the total population, according to UN data (2017)
country comparison to the world: 47
Nationality:
noun: Saudi(s)
adjective: Saudi or Saudi Arabian
Ethnic groups:
Arab 90%, Afro-Asian 10%
Languages:
Arabic (official)
Religions:
Muslim (official; citizens are 85-90% Sunni and 10-15% Shia), other (includes Eastern Orthodox, Protestant, Roman Catholic, Jewish, Hindu, Buddhist, and Sikh) (2012 est.)
note: despite having a large expatriate community of various faiths (more than 30% of the population), most forms of public religious expression inconsistent with the government-sanctioned interpretation of Sunni Islam are restricted; non-Muslims are not allowed to have Saudi citizenship and non-Muslim places of worship are not permitted (2013)
religious affiliation:
Age structure:
0-14 years: 26.1% (male 3,825,242/female 3,631,967)
15-24 years: 18.57% (male 2,842,818/female 2,462,061)
25-54 years: 46.86% (male 7,559,248/female 5,829,656)
55-64 years: 5.03% (male 783,673/female 653,404)
65 years and over: 3.44% (male 498,830/female 484,871) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 40.9
youth dependency ratio: 36.6
elderly dependency ratio: 4.3
potential support ratio: 23.2 (2015 est.)
Median age:
total: 27.5 years
male: 28.2 years
female: 26.7 years (2017 est.)
country comparison to the world: 143
Population growth rate:
1.45% (2017 est.)
country comparison to the world: 79
Birth rate:
18.3 births/1,000 population (2017 est.)
country comparison to the world: 93
Death rate:
3.4 deaths/1,000 population (2017 est.)
country comparison to the world: 219
Net migration rate:
-0.5 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 125
Population distribution:
historically a population that was mostly nomadic or semi-nomadic, the Saudi population has become more settled since petroleum was discovered in the 1930s; most of the economic activities - and with it the country's population - is concentrated in a wide area across the middle of the peninsula, from Ad Dammam in the east, through Riyadh in the interior, to Mecca-Medina in the west near the Red Sea
Urbanization:
urban population: 83.5% of total population (2017)
rate of urbanization: 1.81% annual rate of change (2015-20 est.)
Major urban areas - population:
RIYADH (capital) 6.195 million; Jeddah 4.076 million; Mecca 1.771 million; Medina 1.28 million; Ad Dammam 1.064 million (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.15 male(s)/female
25-54 years: 1.31 male(s)/female
55-64 years: 1.21 male(s)/female
65 years and over: 1.05 male(s)/female
total population: 1.19 male(s)/female (2017 est.)
Maternal mortality ratio:
12 deaths/100,000 live births (2015 est.)
country comparison to the world: 141
Infant mortality rate:
total: 13.2 deaths/1,000 live births
male: 15.1 deaths/1,000 live births
female: 11.2 deaths/1,000 live births (2017 est.)
country comparison to the world: 108
Life expectancy at birth:
total population: 75.5 years
male: 73.4 years
female: 77.7 years (2017 est.)
country comparison to the world: 105
Total fertility rate:
2.09 children born/woman (2017 est.)
country comparison to the world: 106
Contraceptive prevalence rate:
24.6% (2016)
Health expenditures:
4.7% of GDP (2014)
country comparison to the world: 151
Physicians density:
2.57 physicians/1,000 population (2014)
Hospital bed density:
2.7 beds/1,000 population (2014)
Drinking water source:
improved:
urban: 97% of population
rural: 97% of population
total: 97% of population
unimproved: urban: 3% of population
rural: 3% of population
total: 3% of population (2015 est.)
Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
<.1% (2016 est.)
HIV/AIDS - people living with HIV/AIDS:
8,200 (2016 est.)
country comparison to the world: 102
HIV/AIDS - deaths:
<500 (2016 est.)
Obesity - adult prevalence rate:
35.4% (2016)
country comparison to the world: 14
Education expenditures:
5.1% of GDP (2008)
country comparison to the world: 68
Literacy:
definition: age 15 and over can read and write
total population: 94.7%
male: 97%
female: 91.1% (2015 est.)
School life expectancy (primary to tertiary education):
total: 16 years
male: 17 years
female: 15 years (2014)
Unemployment, youth ages 15-24:
total: 28.5%
male: 19.7%
female: 56% (2015 est.)
country comparison to the world: 39
Government
Country name:
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
etymology: named after the ruling dynasty of the country, the House of Saud; the name "Arabia" can be traced back many centuries B.C., the ancient Egyptians referred to the region as "Ar Rabi"
Government type:
absolute monarchy
Capital:
name: Riyadh
geographic coordinates: 24 39 N, 46 42 E
time difference: UTC+3 (8 hours ahead of Washington, DC, during Standard Time)
Administrative divisions:
13 provinces (mintaqat, singular - mintaqah); Al Bahah, Al Hudud ash Shamaliyah (Northern Border), Al Jawf, Al Madinah (Medina), Al Qasim, Ar Riyad (Riyadh), Ash Sharqiyah (Eastern), 'Asir, Ha'il, Jazan, Makkah (Mecca), Najran, Tabuk
Independence:
23 September 1932 (unification of the kingdom)
National holiday:
Saudi National Day (Unification of the Kingdom), 23 September (1932)
Constitution:
history: 1 March 1992 - Basic Law of Government, issued by royal decree, serves as the constitutional framework and is based on the Qur'an and the life and traditions of the Prophet Muhammad
amendments: proposed by the king directly or proposed to the king by the Consultative Assembly or by the Council of Ministers; passage by the king through royal decree; Basic Law amended many times, last in 2005 (2016)
Legal system:
Islamic (sharia) legal system with some elements of Egyptian, French, and customary law; note - several secular codes have been introduced; commercial disputes handled by special committees
International law organization participation:
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Citizenship:
citizenship by birth: no
citizenship by descent only: the father must be a citizen of Saudi Arabia; a child born out of wedlock in Saudi Arabia to a Saudi mother and unknown father
dual citizenship recognized: no
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; restricted to male; universal for municipal elections
Executive branch:
chief of state: King and Prime Minister SALMAN bin Abd al-Aziz Al Saud (since 23 January 2015); Crown Prince MUHAMMAD BIN SALMAN bin Abd al-Aziz Al Saud (born 31 August 1985); note - the monarch is both chief of state and head of government
head of government: King and Prime Minister SALMAN bin Abd al-Aziz Al Saud (since 23 January 2015); Crown Prince MUHAMMAD BIN SALMAN bin Abd al-Aziz Al Saud (born 31 August 1985)
cabinet: Council of Ministers appointed by the monarch every 4 years and includes many royal family members
elections/appointments: none; the monarchy is hereditary; an Allegiance Council created by royal decree in October 2006 established a committee of Saudi princes for a voice in selecting future Saudi kings
Legislative branch:
description: unicameral Consultative Council or Majlis al-Shura (150 seats; members appointed by the monarch to serve 4-year terms); note - in early 2013, the monarch granted women 30 seats on the Council
Judicial branch:
highest court(s): High Court (consists of the court chief and is organized into circuits with 3-judge panels, except for the criminal circuit, which has a 5-judge panel for cases involving major punishments)
judge selection and term of office: High Court chief and chiefs of the High Court Circuits appointed by royal decree following the recommendation of the Supreme Judiciary Council, a 10-member body of high-level judges and other judicial heads; new judges and assistant judges serve 1- and 2-year probations, respectively, before permanent assignment
subordinate courts: Court of Appeals; Specialized Criminal Court, first-degree courts composed of general, criminal, personal status, and commercial courts; Labor Court; a hierarchy of administrative courts
Political parties and leaders:
none
Political pressure groups and leaders:
other: gas companies; religious groups
International organization participation:
ABEDA, AfDB (nonregional member), AFESD, AMF, BIS, CAEU, CP, FAO, G-20, G-77, GCC, IAEA, IBRD, ICAO, ICC (national committees), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM (observer), IPU, ISO, ITSO, ITU, LAS, MIGA, NAM, OAPEC, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UNCTAD, UNESCO, UNIDO, UNRWA, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Khalid bin Salman bin Abdulaziz AL SAUD (since 21 July 2017)
chancery: 601 New Hampshire Avenue NW, Washington, DC 20037
telephone: [1] (202) 342-3800
FAX: [1] (202) 944-5983
consulate(s) general: Houston, Los Angeles, New York
Diplomatic representation from the US:
chief of mission: Ambassador (vacant); Charge d'Affaires Christopher HENZEL (since 9 January 2017)
embassy: P.O. Box 94309, Riyadh 4693
mailing address: American Embassy, Unit 61307, APO AE 09803-1307; International Mail: P. O. Box 94309, Riyadh 11693
telephone: [966] (11) 488-3800
FAX: [966] (11) 488-7360
consulate(s) general: Dhahran, Jiddah (Jeddah)
Flag description:
green, a traditional color in Islamic flags, with the Shahada or Muslim creed in large white Arabic script (translated as "There is no god but God; Muhammad is the Messenger of God") above a white horizontal saber (the tip points to the hoist side); design dates to the early twentieth century and is closely associated with the Al Saud family which established the kingdom in 1932; the flag is manufactured with differing obverse and reverse sides so that the Shahada reads - and the sword points - correctly from right to left on both sides
note: the only national flag to display an inscription as its principal design; one of only three national flags that differ on their obverse and reverse sides - the others are Moldova and Paraguay
National symbol(s):
palm tree surmounting two crossed swords; national colors: green, white
National anthem:
name: "Aash Al Maleek" (Long Live Our Beloved King)
lyrics/music: Ibrahim KHAFAJI/Abdul Rahman al-KHATEEB
note: music adopted 1947, lyrics adopted 1984
Economy
Economy - overview:
Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses about 16% 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 87% of budget revenues, 42% of GDP, and 90% of export earnings.
Saudi Arabia is encouraging the growth of the private sector in order to diversify its economy and to employ more Saudi nationals. Approximately 6 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors; at the same time, however, Riyadh is struggling to reduce unemployment among its own nationals. Saudi officials are particularly focused on employing its large youth population.
In 2017, the Kingdom incurred a budget deficit estimated at 8.3% of GDP, which was financed by bond sales and drawing down reserves. Although the Kingdom can finance high deficits for several years by drawing down its considerable foreign assets or by borrowing, it has cut capital spending and reduced subsidies on electricity, water, and petroleum products and recently introduced a value-added tax of 5%. In January 2016, Crown Prince and Deputy Prime Minister MUHAMMAD BIN SALMAN announced that Saudi Arabia intends to list shares of its state-owned petroleum company, ARAMCO - another move to increase revenue and outside investment. The government has also looked at privatization and diversification of the economy more closely in the wake of a diminished oil market. Historically, Saudi Arabia has focused diversification efforts on power generation, telecommunications, natural gas exploration, and petrochemical sectors. More recently, the government has approached investors about expanding the role of the private sector in the health care, education and tourism industries. While Saudi Arabia has emphasized their goals of diversification for some time, current low oil prices may force the government to make more drastic changes ahead of their long-run timeline.
GDP (purchasing power parity):
$1.789 trillion (2017 est.)
$1.787 trillion (2016 est.)
$1.756 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 16
GDP (official exchange rate):
$678.5 billion (2017 est.)
GDP - real growth rate:
0.1% (2017 est.)
1.7% (2016 est.)
4.1% (2015 est.)
country comparison to the world: 199
GDP - per capita (PPP):
$55,300 (2017 est.)
$56,300 (2016 est.)
$56,600 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 21
Gross national saving:
28.8% of GDP (2017 est.)
25.2% of GDP (2016 est.)
26.1% of GDP (2015 est.)
country comparison to the world: 31
GDP - composition, by end use:
household consumption: 41.3%
government consumption: 24.6%
investment in fixed capital: 24.4%
investment in inventories: 4.4%
exports of goods and services: 35.6%
imports of goods and services: -30.3% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 2.6%
industry: 44.2%
services: 53.2% (2017 est.)
Agriculture - products:
wheat, barley, tomatoes, melons, dates, citrus; mutton, chickens, eggs, milk
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
Industrial production growth rate:
-0.3% (2017 est.)
country comparison to the world: 190
Labor force:
12.34 million
note: comprised of 3.1 million Saudis and 10.7 million non-Saudis (2017 est.)
country comparison to the world: 48
Labor force - by occupation:
agriculture: 6.7%
industry: 21.4%
services: 71.9% (2005 est.)
Unemployment rate:
5.8% (2017 est.)
5.6% (2016 est.)
note: data are for total population; unemployment among Saudi nationals is 12.8%
country comparison to the world: 78
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Distribution of family income - Gini index:
45.9 (2013 est.)
country comparison to the world: 36
Budget:
revenues: $171.6 billion
expenditures: $227.8 billion (2017 est.)
Taxes and other revenues:
25.3% of GDP (2017 est.)
country comparison to the world: 111
Budget surplus (+) or deficit (-):
-8.3% of GDP (2017 est.)
country comparison to the world: 200
Public debt:
30% of GDP (2017 est.)
22.3% of GDP (2016 est.)
country comparison to the world: 163
Fiscal year:
calendar year
Inflation rate (consumer prices):
-0.2% (2017 est.)
3.5% (2016 est.)
country comparison to the world: 7
Central bank discount rate:
2.5% (31 December 2008 est.)
country comparison to the world: 111
Commercial bank prime lending rate:
8.3% (31 December 2017 est.)
7.1% (31 December 2016 est.)
country comparison to the world: 103
Stock of narrow money:
$311.2 billion (31 December 2017 est.)
$305.2 billion (31 December 2016 est.)
country comparison to the world: 16
Stock of broad money:
$487.5 billion (31 December 2017 est.)
$476.6 billion (31 December 2016 est.)
country comparison to the world: 23
Stock of domestic credit:
$250.1 billion (31 December 2017 est.)
$221.3 billion (31 December 2016 est.)
country comparison to the world: 40
Market value of publicly traded shares:
$421.1 billion (31 December 2015 est.)
$483.1 billion (31 December 2014 est.)
$467.4 billion (31 December 2013 est.)
country comparison to the world: 24
Current account balance:
$4.322 billion (2017 est.)
$-27.54 billion (2016 est.)
country comparison to the world: 27
Exports:
$231.3 billion (2017 est.)
$183.6 billion (2016 est.)
country comparison to the world: 22
Exports - commodities:
petroleum and petroleum products 90% (2012 est.)
Exports - partners:
China 13.6%, Japan 11.3%, India 10.7%, US 9.8%, South Korea 9.1%, Singapore 4.7% (2016)
Imports:
$136.8 billion (2017 est.)
$127.8 billion (2016 est.)
country comparison to the world: 33
Imports - commodities:
machinery and equipment, foodstuffs, chemicals, motor vehicles, textiles
Imports - partners:
China 16.2%, US 15%, Germany 6.3%, Japan 5.3%, UAE 5%, South Korea 4.3% (2016)
Reserves of foreign exchange and gold:
$509 billion (31 December 2017 est.)
$535.8 billion (31 December 2016 est.)
country comparison to the world: 5
Debt - external:
$212.9 billion (31 December 2017 est.)
$189.3 billion (31 December 2016 est.)
country comparison to the world: 36
Stock of direct foreign investment - at home:
$264.6 billion (31 December 2017 est.)
$258.1 billion (31 December 2016 est.)
country comparison to the world: 24
Stock of direct foreign investment - abroad:
$56.09 billion (31 December 2017 est.)
$46.45 billion (31 December 2016 est.)
country comparison to the world: 42
Exchange rates:
Saudi riyals (SAR) per US dollar -
3.75 (2017 est.)
3.75 (2016 est.)
3.75 (2015 est.)
3.75 (2014 est.)
3.75 (2013 est.)
Energy
Electricity access:
population without electricity: 200,000
electrification - total population: 98%
electrification - urban areas: 99%
electrification - rural areas: 93% (2013)
Electricity - production:
318 billion kWh (2015 est.)
country comparison to the world: 12
Electricity - consumption:
292.8 billion kWh (2015 est.)
country comparison to the world: 14
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 190
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 194
Electricity - installed generating capacity:
69.05 million kW (2015 est.)
country comparison to the world: 17
Electricity - from fossil fuels:
99.9% of total installed capacity (2015 est.)
country comparison to the world: 25
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 175
Electricity - from hydroelectric plants:
0% of total installed capacity (2015 est.)
country comparison to the world: 198
Electricity - from other renewable sources:
0.1% of total installed capacity (2015 est.)
country comparison to the world: 165
Crude oil - production:
10.46 million bbl/day (2016 est.)
country comparison to the world: 2
Crude oil - exports:
7.273 million bbl/day (2014 est.)
country comparison to the world: 1
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 183
Crude oil - proved reserves:
266.5 billion bbl (1 January 2017 est.)
country comparison to the world: 2
Refined petroleum products - production:
2.221 million bbl/day (2014 est.)
country comparison to the world: 9
Refined petroleum products - consumption:
3.237 million bbl/day (2015 est.)
country comparison to the world: 7
Refined petroleum products - exports:
1.621 million bbl/day (2014 est.)
country comparison to the world: 6
Refined petroleum products - imports:
486,900 bbl/day (2014 est.)
country comparison to the world: 17
Natural gas - production:
102.3 billion cu m (2015 est.)
country comparison to the world: 9
Natural gas - consumption:
102.3 billion cu m (2015 est.)
country comparison to the world: 13
Natural gas - exports:
0 cu m (2014 est.)
country comparison to the world: 174
Natural gas - imports:
0 cu m (2014 est.)
country comparison to the world: 181
Natural gas - proved reserves:
8.602 trillion cu m (1 January 2017 est.)
country comparison to the world: 5
Carbon dioxide emissions from consumption of energy:
594 million Mt (2013 est.)
country comparison to the world: 10
Communications
Telephones - fixed lines:
total subscriptions: 3,637,442
subscriptions per 100 inhabitants: 13 (July 2016 est.)
country comparison to the world: 41
Telephones - mobile cellular:
total: 47,932,521
subscriptions per 100 inhabitants: 168 (July 2016 est.)
country comparison to the world: 32
Telephone system:
general assessment: modern system including a combination of extensive microwave radio relays, coaxial cables, and fiber-optic cables
domestic: mobile-cellular subscribership has been increasing rapidly
international: country code - 966; landing point for the international submarine cable Fiber-Optic Link Around the Globe (FLAG) and for both the SEA-ME-WE-3 and SEA-ME-WE-4 submarine cable networks providing connectivity to Asia, Middle East, Europe, and US; microwave radio relay to Bahrain, Jordan, Kuwait, Qatar, UAE, Yemen, and Sudan; coaxial cable to Kuwait and Jordan; satellite earth stations - 5 Intelsat (3 Atlantic Ocean and 2 Indian Ocean), 1 Arabsat, and 1 Inmarsat (Indian Ocean region) (2016)
Broadcast media:
broadcast media are state-controlled; state-run TV operates 4 networks; Saudi Arabia is a major market for pan-Arab satellite TV broadcasters; state-run radio operates several networks; multiple international broadcasters are available (2007)
Internet country code:
.sa
Internet users:
total: 20,768,456
percent of population: 73.8% (July 2016 est.)
country comparison to the world: 32
Transportation
National air transport system:
number of registered air carriers: 12
inventory of registered aircraft operated by air carriers: 214
annual passenger traffic on registered air carriers: 32,778,827
annual freight traffic on registered air carriers: 1,783.086 million mt-km (2015)
Civil aircraft registration country code prefix:
HZ (2016)
Airports:
214 (2013)
country comparison to the world: 26
Airports - with paved runways:
total: 82
over 3,047 m: 33
2,438 to 3,047 m: 16
1,524 to 2,437 m: 27
914 to 1,523 m: 2
under 914 m: 4 (2017)
Airports - with unpaved runways:
total: 132
2,438 to 3,047 m: 7
1,524 to 2,437 m: 72
914 to 1,523 m: 37
under 914 m: 16 (2013)
Heliports:
10 (2013)
Pipelines:
condensate 209 km; gas 2,940 km; liquid petroleum gas 1,183 km; oil 5,117 km; refined products 1,151 km (2013)
Railways:
total: 5,410 km
standard gauge: 5,410 km 1.435-m gauge (with branch lines and sidings) (2016)
country comparison to the world: 36
Roadways:
total: 221,372 km
paved: 47,529 km (includes 3,891 km of expressways)
unpaved: 173,843 km (2006)
country comparison to the world: 23
Merchant marine:
total: 357
by type: bulk carrier 5, container ship 1, general cargo 19, oil tanker 31, other 301 (2017)
country comparison to the world: 48
Ports and terminals:
major seaport(s): Ad Dammam, Al Jubayl, Jeddah, Yanbu'
container port(s) (TEUs): Ad Dammam (1,954,000), Jeddah (5,417,000) (2015)
Military & Security
Military expenditures:
9.85% of GDP (2016)
13.33% of GDP (2015)
10.68% of GDP (2014)
8.98% of GDP (2013)
7.68% of GDP (2012)
country comparison to the world: 3
Military branches:
Ministry of Defense: Royal Saudi Land Forces, Royal Saudi Naval Forces (includes Marine Forces and Special Forces), Royal Saudi Air Force (Al-Quwwat al-Jawwiya al-Malakiya as-Sa'udiya), Royal Saudi Air Defense Forces, Royal Saudi Strategic Rocket Forces, Ministry of the National Guard (SANG) (2015)
Military service age and obligation:
17 is the legal minimum age for voluntary military service; no conscription (2012)
Transnational Issues
Disputes - international:
Saudi Arabia has reinforced its concrete-filled security barrier along sections of the now fully demarcated border with Yemen to stem illegal cross-border activities; Kuwait and Saudi Arabia continue discussions on a maritime boundary with Iran; Saudi Arabia claims Egyptian-administered islands of Tiran and Sanafir
Refugees and internally displaced persons:
refugees (country of origin): 30,000 (Yemen) (2017)
stateless persons: 70,000 (2016); note - thousands of biduns (stateless Arabs) are descendants of nomadic tribes who were not officially registered when national borders were established, while others migrated to Saudi Arabia in search of jobs; some have temporary identification cards that must be renewed every five years, but their rights remain restricted; most Palestinians have only legal resident status; some naturalized Yemenis were made stateless after being stripped of their passports when Yemen backed Iraq in its invasion of Kuwait in 1990; Saudi women cannot pass their citizenship on to their children, so if they marry a non-national, their children risk statelessness
Trafficking in persons:
current situation: Saudi Arabia is a destination country for men and women subjected to forced labor and, to a lesser extent, forced prostitution; men and women from South and East Asia, the Middle East, and Africa who voluntarily travel to Saudi Arabia as domestic servants or low-skilled laborers subsequently face conditions of involuntary servitude, including nonpayment and withholding of passports; some migrant workers are forced to work indefinitely beyond the term of their contract because their employers will not grant them a required exit visa; female domestic workers are particularly vulnerable because of their isolation in private homes; women, primarily from Asian and African countries, are believed to be forced into prostitution in Saudi Arabia, while other foreign women were reportedly kidnapped and forced into prostitution after running away from abusive employers; children from South Asia, East Africa, and Yemen are subjected to forced labor as beggars and street vendors in Saudi Arabia, facilitated by criminal gangs
tier rating: Tier 2 Watch List - Saudi Arabia does not fully comply with the minimum standards for the elimination of trafficking; however, it is making significant efforts to do so; government officials and high-level religious leaders demonstrated greater political will to combat trafficking and publically acknowledged the problem – specifically forced labor; the government reported increased numbers of prosecutions and convictions of trafficking offenders; however, it did not proactively investigate and prosecute employers for potential labor trafficking crimes following their withholding of workers’ wages and passports, which are illegal; authorities did not systematically use formal criteria to proactively identify victims, resulting in some unidentified victims being arrested, detained, deported, and sometimes prosecuted; more victims were identified and referred to protective services in 2014 than the previous year, but victims of sex trafficking and male trafficking victims were not provided with shelter and remained vulnerable to punishment (2015)
Illicit drugs:
regularly enforces the death penalty for drug traffickers, with foreigners being convicted and executed disproportionately; improving anti-money-laundering legislation and enforcement
