In January 2014 China’s government officials declared that in 2013 its annual trade in goods passed the $4trn mark, knocking the US off the top spot in international trade, and this shift in the axis of commerce is reflected in Saudi Arabia’s own trade relations. However, although the dramatic growth of China and other Asian economies has altered...
In an economy dominated by hydrocarbons, there is no doubt that the big business in Saudi Arabia is oil, but the Kingdom is also home to 1.8m small and medium-sized enterprises (SMEs), according to the International Finance Corporation (IFC).
Economic performance has been strong in the last decade and Saudi Arabia has been one of the best-performing G20 economies in recent years. Real GDP growth averaged 7% per year in 2010-12, second only to China. Following strong growth of 8.6% in 2011, spurred by higher oil output and large fiscal spending packages, the economy grew at a slower,...
To what extent can the Saudiisation programme ensure that nationals are employed in a productive manner rather than being hired to fulfil a quota?
Saudi Arabia was declared the world’s fourth-largest defence spender after the US, China and Russia in the International Institute for Strategic Studies (IISS) 2014 “Military Balance” report. It estimated the Kingdom’s defence budget for 2013 was $59.6bn, putting it ahead of the UK, France, Japan and Germany. According to the Saudi Arabian Monetary...
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