geles, and New York
US:
Ambassador Charles W. FREEMAN, Jr.; Embassy at Collector Road M, Diplomatic
Quarter, Riyadh (mailing address is American Embassy, Unit 61307, Riyadh;
International Mail: P. O. Box 94309, Riyadh 11693; or APO AE 09803-1307);
telephone [966] (1) 488-3800; Telex 406866; there are US Consulates General
in Dhahran and Jiddah (Jeddah)
Flag:
green with large white Arabic script (that may be 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); green is the traditional color of
Islam

:Saudi Arabia Economy

Overview:
The petroleum sector accounts for roughly 70% of budget revenues, 37% 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, and
plays a leading role in OPEC. For the 1990s the government intends to
encourage private economic activity and to foster the gradual process of
turning Saudi Arabia into a modern industrial state that retains traditional
Islamic values.
GDP:
exchange rate conversion - $104 billion, per capita $5,800; real growth rate
1.5% (1991 est.)
Inflation rate (consumer prices):
3% (1991 est.)
Unemployment rate:
0% (1989 est.)
Budget:
revenues $40.3 billion; expenditures $48.3 billion, including capital
expenditures of $NA (1992)
Exports:
$44.3 billion (f.o.b., 1990)
commodities:
petroleum and petroleum products 85%
partners:
US 22%, Japan 22%, Singapore 7%, France 6%
Imports:
$21.5 billion (f.o.b., 1990)
commodities:
manufactured goods, transportation equipment, construction materials,
processed food products
partners:
US 16%, UK 14%, Japan 14%, FRG 7%
External debt:
$18.9 billion (December 1989 est.)
Industrial production:
growth rate -1.1% (1989 est.); accounts for 37% of GDP, including petroleum
Electricity:
30,000,000 kW capacity; 60,000 million kWh produced, 3,300 kWh per capita
(1991)
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, mut