Historically the Kingdom has benefitted greatly from its ability to ship its hydrocarbons resources to consumers across the world, while its strong economic growth in recent decades has made it a significant importer of goods and services. Meanwhile, the country’s transport links, large consumer market and a relatively high per capita income combine to make it an attractive destination for...
Economy
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Chapter | Trade & Investment from The Report: Saudi Arabia 2016
Benefitting greatly from rising oil prices and production over the last decade, Saudi Arabia has used its sizeable revenues to build up strong external buffers and drive GDP growth through extensive spending programmes. The decline in oil prices that began in mid-2014, however, has significantly lowered export revenues and brought the era of fiscal surpluses to a close. The resulting altered...
Chapter | Country Profile from The Report: Saudi Arabia 2016
Home to an estimated 15.7% of the world’s proven oil reserves and the single largest economy in the MENA region, Saudi Arabia is a key player not only in the region but also globally. Since the establishment of Saudi Arabia in September 1932, the Kingdom has poured its considerable resources into a series of large-scale economic development, diversification and modernisation initiatives. 2016...
2016 witnessed the launch of the Kingdom’s historic Vision 2030 and the accompanying National Transformation Programme, both of which call for a major overhaul of the state’s economic apparatus and envision a more open market framework and more dynamic, private sector-led growth moving ahead.
Introducing revenue-generating measures and increasing the role of the private sector are core themes of Trinidad and Tobago’s recently released 2017 budget.
Oman is taking a number of steps to attract investors to the sultanate in a bid to diversify its economy away from a reliance on hydrocarbons.