Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, real GDP grew by 3.8% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent decades growing 9.3% in 2013.
Indeed, while some Western countries may be seeing a return to cautious optimism and leading emerging economies are weighing the potential impact on capital flows of tapering in the US Federal Reserve’s quantitative easing programme, Saudi Arabia is seeing sustained growth buoyed by high global oil prices and internal investment in its own infrastructure. Some 15 years after Saudi Arabia attended the inaugural meeting of G20 countries, its key economic indicators make it the envy of many other member states. Given the size of Saudi economy within the regional and indeed global market, OBG looks in depth at bilateral trade between ASEAN nations and the GCC.
Prince Sultan bin Salman bin Abdulaziz Al Saud, Chairman and President, Saudi Commission for...
Prince Turki bin Abdullah bin Abdulaziz Al Saud, Governor, Riyadh Region: Interview
Ibrahim Al Assaf, Minister of Finance, on the mid-term outlook
Adel Fakeih, Minister of Labour: Interview
Fahad Al Mubarak, Governor, Saudi Arabian Monetary Agency (SAMA), on new developments in the...
Ali Al Naimi, Minister of Petroleum and Mineral Resources, on developments in the energy sector
Abdulaziz Al Sugair, Chairman, Saudi Telecoms Company: Interview
Adel Al Ghamdi, CEO, Saudi Stock Exchange: Interview
Saleh Al Rasheed, Director-General, Saudi Industrial Property Authority (MODON): Interview
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