Compare Saudi Arabia (2008) - Saudi Arabia (2007)

Compare Saudi Arabia (2008) z Saudi Arabia (2007)

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	Saudi Arabia (2008)	Saudi Arabia (2007)

Budget	revenues: $193.7 billion expenditures: $122.2 billion (2007 est.)	revenues: $174.8 billion expenditures: $104.1 billion (2006 est.)
Debt - external	$52.89 billion (31 December 2007 est.)	$46.6 billion (2006 est.)
Economic aid - donor	since 2002, Saudi Arabia has provided more than $480 million in budgetary support to the Palestinian Authority, supported Palestinian refugees through contributions to the UN Relief and Works Agency (UNRWA), provided more than $250 million to Arab League funds for the Palestinians, and pledged $500 million in assistance over the next three years at the Donors Conference in Dec 2007; pledged $230 million to development in Afghanistan; pledged $1 billion in export guarantees and soft loans to Iraq; pledged $133 million in direct grant aid, $187 million in concessional loans, and $153 million in export credits for Pakistan earthquake relief; pledged a total of $1.59 billion to Lebanon in assistance and deposits to the Central Bank of Lebanon in 2006 and pledged an additional $1.1 billion in early 2007	since 2000, Saudi Arabia has committed $307 million for assistance to the Palestinians; pledged $230 million to development in Afghanistan; pledged $1 billion in export guarantees and soft loans to Iraq; pledged $133 million in direct grant aid, $187 million in concessional loans, and $153 million in export credits for Pakistan earthquake relief; pledged a total of $1.59 billion to Lebanon in assistance and deposits to the Central Bank of Lebanon in 2006 and pledged an additional $1.1 billion in early 2007
Economic aid - recipient	$26.29 million (2005)	-
Economy - overview	Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses more than 20% 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 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly 5.5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors. High oil prices have boosted growth, government revenues, and Saudi ownership of foreign assets, while enabling Riyadh to pay down domestic debt. The government is encouraging private sector growth - especially in power generation, telecommunications, natural gas exploration, and petrochemicals - to lessen the kingdom's dependence on oil exports and to increase employment opportunities for the swelling Saudi population, 40% of which are youths under 15 years old. Unemployment is high, and the large youth population generally lacks the education and technical skills the private sector needs. Riyadh has substantially boosted spending on job training and education, infrastructure development, and government salaries. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. The government has announced plans to establish six "economic cities" in different regions of the country to promote development and diversification.	Saudi Arabia has an oil-based economy with strong government controls over major economic activities. It possesses 25% 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 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly 5.5 million foreign workers play an important role in the Saudi economy, particularly in the oil and service sectors. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and to increase employment opportunities for the swelling Saudi population. The government is promoting private sector and foreign participation in the power generation, telecom, natural gas, and petrochemical industries. As part of its effort to attract foreign investment and diversify the economy, Saudi Arabia acceded to the WTO in December 2005 after many years of negotiations. With high oil revenues enabling the government to post large budget surpluses, Riyadh has substantially boosted spending on job training and education, infrastructure development, and government salaries. The government has announced plans to establish six "economic cities" in different regions of the country to promote development and diversification.
Exchange rates	Saudi riyals per US dollar - 3.745 (2007), 3.745 (2006), 3.747 (2005), 3.75 (2004), 3.75 (2003)	Saudi riyals per US dollar - 3.745 (2006), 3.747 (2005), 3.75 (2004), 3.75 (2003), 3.75 (2002)
Exports	8.9 million bbl/day (2007 est.)	8.554 million bbl/day (2004)
GDP - composition by sector	agriculture: 3% industry: 61.8% services: 35.2% (2007 est.)	agriculture: 3% industry: 63.6% services: 33.4% (2006 est.)
GDP - real growth rate	4.7% (2007 est.)	4.3% (2006 est.)
Imports - partners	US 12.2%, Germany 9.1%, China 7.9%, Japan 7.3%, UK 4.8%, Italy 4.8%, South Korea 4.1% (2006)	US 12.3%, Germany 8.6%, China 8%, Japan 7.3%, UK 4.9%, Italy 4.8%, South Korea 4.1% (2006)
Industrial production growth rate	0.2% (2007 est.)	1.9% (2006 est.)
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	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
Inflation rate (consumer prices)	3.4% (2007 est.)	2.2% (2006 est.)
International organization participation	ABEDA, AfDB, AFESD, AMF, BIS, FAO, G-77, GCC, IAEA, IBRD, ICAO, ICC, ICRM, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, LAS, MIGA, NAM, OAPEC, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UNCTAD, UNESCO, UNIDO, UNRWA, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO	ABEDA, AfDB, AFESD, AMF, BIS, FAO, G-77, GCC, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, LAS, MIGA, NAM, OAPEC, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UNCTAD, UNESCO, UNIDO, UNRWA, UNWTO, UPU, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	6.488 million note: more than 35% of the population in the 15-64 age group is non-national (2007 est.)	6.311 million note: more than 35% of the population in the 15-64 age group is non-national (2006 est.)
Pipelines	condensate 212 km; gas 1,880 km; liquid petroleum gas 1,183 km; oil 4,521 km; refined products 1,148 km (2007)	condensate 212 km; gas 1,880 km; liquid petroleum gas 1,183 km; oil 4,531 km; refined products 1,150 km (2006)
Telephone system	general assessment: modern system domestic: extensive microwave radio relay, coaxial cable, and fiber-optic cable systems; 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)	general assessment: modern system domestic: extensive microwave radio relay, coaxial cable, and fiber-optic cable systems international: country code - 966; microwave radio relay to Bahrain, Jordan, Kuwait, Qatar, UAE, Yemen, and Sudan; coaxial cable to Kuwait and Jordan; submarine cable to Djibouti, Egypt and Bahrain; satellite earth stations - 5 Intelsat (3 Atlantic Ocean and 2 Indian Ocean), 1 Arabsat, and 1 Inmarsat (Indian Ocean region)

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