In World Bank’s ease of doing business ranking Saudi Arabia was ranked 92 out of 190 countries in 2018. Saudi Arabia’s ease of doing business ranking slipped from 15th position in 2008.
Saudi Arabia, officially known as the Kingdom of Saudi Arabia, is the largest Arab state in Western Asia by land area approximately 830,000 square miles, constituting the bulk of the Arabian Peninsula and the second-largest in the Arab world, after Algeria. It shares its borders with Jordan and Iraq to the north, Kuwait to the northeast, Qatar, Bahrain and the United Arab Emirates to the east, Oman to the southeast, and Yemen in the south.
Saudi Arabia had estimated population of 31.743 million in the year 2016 and expected to reach 35.747 million by 2022. Saudi Arabia’s unemployment rate was 5.727% of total labor force.
Saudi Arabia’s real gross domestic product (GDP) was around SAR 2580.82 billions in 2016 whereas the nominal GDP was SAR 2398.56 billions. This resulted in GDP deflator 92.938. Per capita GDP was estimated at USD 20150.13 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 55158.22.
In 2016, Saudi Arabia government’s revenue was SAR 528 billions whereas the expenditure was SAR 933.402 billions. This resulted Saudi Arabia government’s net lending / borrowing negative at SAR 405.402 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.
The current account balance for Saudi Arabia was estimated to be negative at USD 24.914 billions for the year 2016 and is expected to decrease at a CAGR of 176.07% and reach USD 8.363 by 2022. This negative current account balance indicates the Saudi Arabia is net borrower from the whole world.
Scope of Saudi Arabia – PESTLE Analysis and Macroeconomic Trends Report
– This report provides information about key macroeconomic indicators for Saudi Arabia.
– This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Saudi Arabia.
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