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Industrialization in Saudi Arabia
Essay # 19162
Industrialization in Saudi Arabia
An examination of the the attempts by the Saudi government to diversify their economy away from dependence on oil revenues. With a focus on Saudi attempts to build an industrial base.
1,575 words (approx. 6.3 pages) |
5 sources |
1992
From the Paper:
"Industrialization in Saudi ArabiaThe General Economy
The Saudi Arabian economy is dominated by oil, which accounts directly for nearly forty percent of gross domestic product (GDP).1 Indirectly, however, considering that petroleum production allows the government to subsidize manufacturing, agriculture, and services in much of the private sector, it is estimated that the oil sector controls eighty percent of the desert kingdom's economy. That said, official general policy since the oil boom two decades ago has been to diversify the economy. Agriculture, for example, is subsidized in order to decrease dependence on imports of foodstuffs in this arid, mostly non-arable land that requires vast amounts of irrigation. As a result of such subsidies, agricultural production has increased about 8 percent a year..."
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APA Citation:
Industrialization in Saudi Arabia (2012, January 15). Retrieved February 13, 2012, from http://www.academon.com/Essay-Industrialization-in-Saudi-Arabia/19162
MLA Citation:
"Industrialization in Saudi Arabia" 15 January 2012. Web. 13 Feb. 2012. <http://www.academon.com/Essay-Industrialization-in-Saudi-Arabia/19162>
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