page_title: Economy of Saudi Arabia
section_title: Trade
hierarchical_section_title: Economy of Saudi Arabia / Trade
caption_attribution_description: English: This bubble map shows the global distribution of Saudi Arabian exports in 2006 as a percentage of the top market (Japan - $33,623,500,000). This map is consistent with incomplete set of data too as long as the top producer is known. It resolves the accessibility issues faced by colour-coded maps that may not be properly rendered in old computer screens. Data was extracted on 30th September 2007 from http://www.imfstatistics.org/DOT Based on :Image:BlankMap-World.png
context_page_description: The economy of Saudi Arabia is one of the top twenty economies in the world, and the largest economy in the Arab world and the Middle East. Saudi Arabia is part of the G20 group of countries.
  With a total worth of US$33.2 trillion, Saudi Arabia has the second most valuable natural resources in the world.
  The country has the second-largest proven petroleum reserves, and is the largest exporter of petroleum in the world.
  It also has the fifth-largest proven natural gas reserves and is considered an "Energy Superpower".
  The economy of Saudi Arabia is heavily dependent on oil, and is a member of OPEC. In 2016 the Saudi Government launched its Saudi Vision 2030 to reduce the country's dependency on oil and diversify its economic resources. In the first quarter of 2019, Saudi Arabia's budget has accomplished its first surplus since 2014. This surplus that is accounted for $10.40 billion has been achieved due to the increase of the oil and non-oil revenues.
context_section_description: In April 2000, the government established the Saudi Arabian General Investment Authority to encourage foreign direct investment in Saudi Arabia. Saudi Arabia maintains a negative list of sectors in which foreign investment is prohibited, but the government plans to open some closed sectors such as telecommunications, insurance, and power transmission/distribution over time.
  Saudi Arabia became a full WTO Member on 11 December 2005. In 2019, the government established the General Authority for Foreign Trade to enhance the kingdom's international commercial and investment activities.
  Saudi Arabia is part of the following trade organizations:
  World Trade Organization (WTO)
  International Monetary Fund (IMF)
  International Chamber of Commerce (ICC)
  International Organization for Standardization (ISO)
  World Customs Organization (WCO)
  Gulf Cooperation Council (GCC)
caption: Saudi Arabian exports in 2006
exif: {}