gs. Saudi Arabia has the largest reserves of petroleum in the
world (26% of the proved total), ranks as the largest exporter of
petroleum, and plays a leading role in OPEC. For the 1990s the
government intends to bring its budget, which has been in deficit
since 1983, back into balance, and to encourage private economic
activity. Roughly four million foreign workers play an important role
in the Saudi economy, for example, in the oil and service sectors. For
over a decade, Saudi Arabia's domestic and international outlays have
outstripped its income, and the government has cut its foreign
assistance and is beginning to rein in domestic programs. A
substantial rise in oil prices was the key to a successful 1996. For
1997, the country looks to its policies of maintaining moderate fiscal
reforms, restraining public spending, and encouraging non-oil exports.

GDP: purchasing power parity - $205.6 billion (1996 est.)

GDP - real growth rate: 6% (1996 est.)

GDP - per capita: purchasing power parity - $10,600 (1996 est.)

GDP - composition by sector:
agriculture : 9%
industry: 50%
services: 41% (1994 est.)

Inflation rate - consumer price index: 1% (1996 est.)

Labor force: 6 million-7 million
by occupation: government 40%, industry, construction, and oil 25%,
services 30%, agriculture 5%
note: 35.87% of the population in the 15-64 age group is non-national
(July 1997 est.)

Unemployment rate: 6.5% (1992 est.)

Budget:
revenues : $43.7 billion
expenditures: $48.3 billion, including capital expenditures of $NA
(1997 est.)

Industries: crude oil production, petroleum refining, basic
petrochemicals, cement, two small steel-rolling mills, construction,
fertilizer, plastics

Industrial production growth rate: 17% (1994 est.)

Electricity - capacity: 20.9 million kW (1994)

Electricity - production: 62.75 billion kWh (1994)

Electricity - consumption per capita: 3,228 kWh (1995 est.)

Agriculture - products: wheat, barley, tomatoes, melons, dates,
citrus; mutton, chickens, eggs, milk

Exports:
total value: $53.1 billion (f.o.b., 1996 est.)
commodities: petroleum and petroleum products 90%
partners: Japan 18%, US 15%, South Korea 10%, Singapore 7%, France 4%
(1995 est.)

Imports:
total value : $25.5 billion (f.o.b., 1996 est.)
commodities: machinery and equipment, foodstuffs, chemicals, motor
vehicles, textiles
partners: US 21%, UK 9%, Germany 8%, Japan 8%, Switzerland 5%, France
5% (1995 est.)

Debt -