ECONOMIC INFORMATION
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Population: 22.5m
Population growth: 2.89%
Population density (people per sq. km): 10
UN Human Development Index ranking: 77/177
Gross national income (current US$): $186.8bn (2002)
Gross national income per capita: $8,530
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PPP Gross national income: $281.3bn
PPP Gross national income per capita: $12,850
GDP growth: 7.2% (2003)
GDP breakdown Agriculture: 5.1%, Industry: 51.37%, Services: 43.52%
Inflation (12-month average): 1.81 (2002)
Gross capital formation as % of GDP: 19.58%
Final consumption expenditure as % of GDP (growth): 62.7% (1.0%)
Exports of goods & services as % of GDP: 40.8%
Top 3 export markets: US, Japan, South Korea ,
Local industries: Crude oil production, petroleum refining, basic petrochemicals, cement, construction, fertiliser, plastics
WEF Growth Competitiveness ranking *: n/a/104
WEF Business Competitiveness ranking **: n/a/103
WEF Quality of the Business Environment ranking: n/a/103
Transparency International Corruption Perceptions ranking: 71/145
Languages : Arabic (official)
FDI INFORMATION
Region: Gulf
No. of projects (Jan-Sep 2004): 62
Market-share of projects in the region: 13.7%
Value of projects relative to GDP: 24.6%
Top 3 destination sectors: IT & software, energy, textiles
Top 3 business functions: Sales marketing & support, retail, manufacturing
Top 3 source countries: US, UK, UAE
Top 3 investors: Sumitomo Chemical, Royal Dutch Shell, Acetex
IPA
Name: Saudi Arabian General Investment Authority
Web address: www.sagia.gov.sa
* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently
** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth
*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations