Between a long-term vision and short-term oil-fueled growth

B1

LOW RISK FOR ENTERPRISE

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in April 2023.

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GDP
USD834bn (World ranking 18, World Bank 2021)
Population
35,3mn (World ranking 41, World Bank 2021)
Form of state Monarchy
Head of government King SALMAN bin Abdulaziz Al Saud
Next elections None
  • Long-standing oil producer with spare capacity to increase output when needed, substantial negotiating power and significant financial buffers.
  • Growth champion in 2022, virtually unscathed by the international crises of recent years with no major consequences on inflation and exchange rate.
  • Seen as a financial partner and lender of last resort by a growing number of countries in the region with which it has been able to normalize relations.
  • Dependence on international oil prices and shipping routes, with limited economic diversification aside from energy-adjacent sectors.
  • Dependence on international oil prices and shipping routes, with limited economic diversification aside from energy-adjacent sectors.
  • Data transparency, pluralism and governance remain below the average of high-income economies.

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
China 19.5%
1
20.4% China
India 10.0%
2
10.4% United States
Japan 9.9%
3
8.2% United Arab Emirates
Korea, Republic of 8.6%
4
5.3% India
United Arab Emirates 5.2%
5
4.8% Germany

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Petroleum, petroleum products and related materials 65.5%
1
9.3% Road vehicles
Plastics in primary forms 11.9%
2
6.1% Telecommunication and sound recording apparatus
Organic chemicals 6.9%
3
5.9% Other industrial machinery and parts
Gas, natural and manufactured 2.6%
4
5.7% Other transport equipment
Fertilizers other than group 272 1.3%
5
4.8% Iron and steel
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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