The Arab Economic Summit,
19-20 January 2009,
State of Kuwait

Kingdom of Saudi Arabia


Ruler King Abdullah bin Abdul Aziz Al Saud , the Custodian of the Two Holy Mosques.

Geography

Saudi Arabia spreads over 2,150,000 square kilometers, occupying almost 80 percent of the Arabian Peninsula. Located in the southwest corner of Asia, the Kingdom is at the crossroads of Europe, Asia and Africa. It is bordered by Jordan on the northwest, Iraq on the north and northeast, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south. The Persian Gulf lies to the northeast and the Red Sea to its west.

Climate

Extreme heat and aridity are characteristic of most of Saudi Arabia. It is one of the few places in the world where summer temperatures above 50 °C (122 °F) have been recorded. In winter, frost or snow can occur in the interior and the higher mountains, The average winter temperature range is 8° to 20 °C (47° to 68 °F) Annual precipitation is usually sparse (up to 100 mm or 4 inches in most regions), although sudden downpours can lead to violent flash floods in some area’s .

 

Currency The riyal is the currency of KSA , It is subdivided into 100 halala

Economy

Saudi Arabia's economy is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry , it’s the largest exporter of petroleum in the world .

To diversify the economy, Saudi Arabia launched a new city on the western coast with investments exceeding $26.6 billion. The city, which is named "King Abdullah Economic City", includes a port which is the largest port of the kingdom , and a petrochemical, pharmaceutical, tourism, finance and education and research areas. Also , Saudi Arabia officially became a World Trade Organization member in December 2005.

The agriculture activity has grown rapidly in the last few years , and also the KSA rule in “ Hajj “ season plays a great rule in the kingdom’s economy .

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