Benefiting from high oil and gas prices
B1
LOW RISK FOR ENTERPRISE
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in May 2022.
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GDP |
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|
Population |
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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%
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1 |
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India
10.0%
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2 |
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Japan
9.9%
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3 |
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Korea, Republic of
8.6%
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4 |
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United Arab Emirates
5.2%
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5 |
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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%
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2 |
6.1%
Telecommunication and sound recording apparatus
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Organic chemicals
6.9%
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3 |
5.9%
Other industrial machinery and parts
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Gas, natural and manufactured
2.6%
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4 |
5.7%
Other transport equipment
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Fertilizers other than group 272
1.3%
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5 |
4.8%
Iron and steel
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Collection Complexity
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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