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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]]
The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East. [64] Saudi Arabia is part of the G20 group of countries. [65] With a total worth of $34.4 trillion, Saudi Arabia has the second most valuable natural resources in the world. [66]
Based on latest figures and estimates, the Arab League has a GDP of approximately US$3.5 trillion at nominal values and $9.4 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.07 trillion, followed by the UAE at $509.18 billion and Egypt at $489.4 billion.
Saudi oil giant Aramco reported half-year profits Tuesday of $56.3 billion, down from the year before amid worries about a slowing global economy. Aramco, formally known as the Saudi Arabian Oil ...
Saudi Vision 2030 (Arabic: رؤية السعودية ٢٠٣٠ ruʾyat al-suʿūdiyah alfayn thalāthūn, sometimes called Project 2030) is a government program launched by Saudi Arabia which aims to achieve the goal of increased diversification economically, socially, and culturally, in line with the vision of Saudi Crown Prince and Prime Minister Mohammed bin Salman.
Saudi Arabia is the world's leading oil producer and exporter. Saudi Arabia's economy is petroleum-based; oil accounts for 90% of the country's exports and nearly 75% of government revenue. [1] The oil industry produces about 45% of Saudi Arabia's gross domestic product, against 40% from the private sector. [2]
Oil provided Saudi Arabia with economic prosperity and substantial political leverage internationally. [74] Cultural life rapidly developed, primarily in the Hejaz, which was the centre for newspapers and radio. However, the large influx of foreign workers in Saudi Arabia in the oil industry increased the pre-existing propensity for xenophobia ...
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.