Economic Position Of Saudi Arabia

Paper Summary:

Analysis of Saudi Arabia as a key economic power because of its large oil reserves. Comparison with other Middle Eastern countries. Key macroeconomic statistics. High GDP. Low inflation rate. High trade balance. Oil prices and levels of production. High unemployment rate. Need for foreign investment to provide jobs. Future outlook.

From the Paper:

"Introduction

Saudi Arabia is a key economic power in the international market because of its large reserves of oil and the dependence that the rest of the world has on oil. A key member of OPEC, Saudi Arabia influences both the price and production levels of oil and uses its key position for political as well as economic strategy. However, the nation is also dependent on its trading partners to provide it with much of the goods that it cannot produce internally, and its heavy reliance on the United States has resulted in an odd strategic alliance between the two nations. This research considers the current economic position of Saudi Arabia relative to other Middle Eastern countries as well as its own performance, and what is likely to occur in the nation's economy in the future."

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