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.
Written in 1992; 1,575 words; 5 sources; $ 55.95
From the Paper:
"Industrialization in Saudi Arabia
The 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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