Compare The Economy Of Saudi Arabia And The Us

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Comparison of GDP of Saudi Arabia and the United States

The economy of the Kingdom of Saudi Arabia is oil-based economy with a strong control of its government over the major economic activities. Saudi Arabia owns 18% of the petroleum reserves of the entire world, and has been frequently ranked as the leading exporter of petroleum. Also, it has played a significant and leading role in OPEC for many years. The United States of America, on the other hand, has technologically the most dominant economy in the world. The firms of the United States are at the pole position in technological advancements, particularly, in the field of pharmaceuticals, computers, aerospace, and military equipment. This paper covers a comparative study between the economy of the Kingdom of Saudi Arabia and the United States on the basis of their Gross Domestic Product. The Economy of the …show more content…

05 billion, whereas, the total GDP of the United States is $15. 68 trillion, which is ranked 22 times greater than the GDP of Saudi Arabia. However, in the per capita exports sector, Saudi Arabia has been ranked as 22th with a figure of $ 13, 720.27, which is 3 times greater than the rank of the United States. United States ranked 50th with a figure of $ 4,972 (CIA, 2016).
The composition of GDP by Industry is 66. 9% in Saudi Arabia, which is four times greater than the United States as the GDP by industry in the United States is just 19. 1%. The per capita Gross Domestic Product in Saudi Arabia is $22, 939. 18, whereas, in the United States, it is $ 45, 759.46 per capita. Thus, the per capita GDP in the United States is twice as much as the per capita GDP of Saudi Arabia. The GDP by purchasing power parity is $ 883. 70 in the Saudi Arabia, whereas, it is $ 16. 24 in the United States, which is 18 times greater than the GDP by purchasing power parity of the Saudi Arabia (CIA,

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