ECONOMIC INFORMATION
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Population - 22.1m
Population growth - 3.25%
GDP (current US$) - $186.49bn (2001)
GDP per capita - $8,432
GDP per capita on a purchasing price parity basis - $10,250
GDP growth - 0.6% (2002)
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Industrial production growth - 1%
Inflation (12-month average) - -2.4% (2001)
Exports of goods and services as % of GDP - 41.9%
Top 3 export markets - US, Japan, South Korea
Local currency (change vs. US$ Jan 1-Nov 26, 2003) - Riyal (pegged to US$)
WEF Growth Competitiveness ranking * - n/a/102
WEF Business Competitiveness ranking ** - n/a/95
Local industries - Crude oil production, petroleum refining, basic
petrochemicals, cement, construction, fertilizer, plastics
Languages - Arabic
GOVERNANCE
World Bank Governance Matters III ***
Political stability - 0.05
Government effectiveness - -0.05
Regulatory quality - 0.08
Rule of law - 0.44
Control of corruption - 0.57
Economic Freedom ranking - 68/165
UN Human Development Index ranking - 73/175
FDI INFORMATION
Region - Gulf
No.of projects (Jan-Sep 2003) - 46
Market-share of projects in the region - 12.6%
Value of projects relative to GNP - 19.5%
Top 3 destination sectors - Hotels, Tourism & Leisure, Financial Services,
Chemicals
Top 3 source countries - USA, UK, UAE
Top 3 investors - Hilton Hotels, Groupe Casino, Chevron Phillips
IPA
Name - Saudi Arabian General Investment Authority
Web address - www.sagia.gov.sa
Telephone +966 1 263 5010 Ext. 333
* 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 score given is a deviation from the global mean score of zero. Ranged between –2.5 and +2.5, the higher the score, the better the performance