Miso Park Economic Map Project: Saudi Arabia

Economic Data for Saudi Arabia GDP: $676.7 billion Growth Rate: 6.5% GDP Per Capita: $24,000 Unemployment Rate: 10.9% Population below Poverty Line: NA Exports: $350.7 billion Imports: $106.5 billion National Debt: $101 billion Saudi Arabia, officially known as the Kingdom of Saudi Arabia, is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the secondlargest in the Arab world, after Algeria. It is bordered by Jordan, and Iraq on the north and northeast, Kuwait, Qatar, Bahrain and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south. The Red Sea lies to its west, and the Persian Gulf lies to the northeast. Saudi Arabia's command economy is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry. The oil industry comprises about 45% of Saudi Arabia's gross domestic product, compared with 40% from the private sector (see below). Saudi Arabia officially has about 260 billion barrels (4.11010 m3) of oil reserves, comprising about one-fifth of the world's proven total petroleum reserves. Saudi Arabia is one of only a few fast-growing countries in the world with a relatively high per capita income of $24,200 (2010). Saudi Arabia will be launching six "economic cities" (e.g. King Abdullah Economic City) which are planned to be completed by 2020. These six new industrialized cities are intended to diversify the economy of Saudi Arabia, and are expected to increase the per capita income.