Benefiting from high oil and gas prices

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 May 2022.

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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
  • Natural resource base (oil and gas)
  • Strategic importance as an oil exporter and with spare capacity to increase output when needed
  • Large financial asset base and strong foreign exchange reserves
  • Net creditor
  • Generally good relations with the U.S.
  • Long-standing and stable exchange rate system
  • Dependence on international oil prices along with a narrow economy focused on the hydrocarbon sector
  • High unemployment and under-employment have the potential to fuel increased militancy, particularly among the minority Shia population
  • Data transparency is below average for a high income economy
  • Regional uncertainties, with land borders with Iraq and Yemen and with Iran as a close neighbor. The latter is seen by some as a competitor for regional power

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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