Saudi Arabia Pestel Analysis, Saudi Arabia Country Analysis, Saudi Arabia Oil Industry Revenue - Ken Research

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Oil Rich Saudi Arabia Bracing for Budget
Overhaual ken Research
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The kingdom of Saudi Arabia is an Arab sovereign
state situated in western Asia. Geographically,
Saudi is the fifth largest state in Asia and
second in the Arab states. Saudi Arabia is the
worlds largest oil producer and exporter. World
Bank has categorized it to be among some high
income economy, high human development index.
However Saudi Arabia lacks participation in other
production services other than extraction of
natural resources.
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Saudi Arabia economy is totally oil based as it
possess around 18 of the worlds petroleum
reserves, is the largest exporter of petroleum.
The major revenue for the government comes from
petroleum only. Saudi Arabia does have around 260
billion barrels of world oil reserves, which is
nearly the 1/4th of the world oil reserves. The
petroleum extraction is quite easy in Saudi
Arabia because of the oil is in plenty and quite
close to the earth surface , therefore
contributing around 92.5 in Saudi revenues a 97
to the export earnings, and 55 in
GDP. According to research report Country
Analysis Report Saudi Arabia, In-depth PESTLE
Insights, the regulatory and open market policy
of Saudi Arabia are not much developed if
compared to other emerging economies therefore
the kingdom has unveiled the economic reforms
plan SAUDI VISION 2030 which will help in
increasing the foreign investment, and
development of private sectors.
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Saudi Arabia is totally a monarchy system, ruled
by king Salman bin Abdulaziz Al Saud. The major
revenues for the government are generated through
oil. The Saudi faces a lot of threatened from
Islamic state. The Saudi citizens have to pay
around 2.5 of the religious tax which is
mandatory under the Islamic law. Ken Research
says, trade is the very important business
activity to Saudi Arabia as 73 of GDP is
contributed by both import and export activities.
The foreign investment and state owned industries
are going to garble the economic condition of
Saudi Arabia. As per the OPEC norms, Saudi Arabia
and some other major oil producers agree to cut
the production cost so as to flood the market in
order to make supply exceed the demand that has
collapsed the prices for the same.
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The kingdom faced the budget deficit for the
first time and was forced to take loans from
international investor. In order to meet these
crises Saudi has already slashed energy
subsidies, cut wages of officials due to which
unemployment is going to rise. Key Topics
Covered in the Report Saudi Arabia Country
Analysis Saudi Arabia Oil Industry Research Saudi
Arabia Pestel Analysis Saudi Arabia Regulatory
Environment Saudi Arabia GDP Growth Oil Rich
Saudi Arabia Bracing Saudi Arabia Oil Industry
Size Saudi Arabia Oil Industry Growth Saudi
Arabia Oil Industry Market Share
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