Economic structure changes in Saudi Arabia
Main Article Content
Abstract
The economic structure changes are overviewed from point of employment conditions in Saudi Arabia,
because the economic growth is based on skilled level of labour forces and in the same time on the
innovation development. The mining sector of fossil energy in Saudi Arabia is basic principle sector, but the
Saudi economy needs to extent its economic structure in order that most of population of the country can
obtain jobs for employment. In general the mining sector is very efficient and productive in Saudi Arabia,
which means based on the innovation development this sector provides considerable share of the GDP and
export-price income for the country. The study uses analyse methods based on the statistical data and their
compares, which emphasizes the economic structure of Saudi Arabia concerning different economic sectors.
The data can provide overview on shares of some main economic branches and their roles in employment
issues and GDP production.
The mining and quarrying sector provided jobs for 1.78% of all employees in 2000 and 1.6% of them in
middle of 2000s in Saudi Arabia. In the same time the mineral products had 88.3% share of all export of
Saudi Arabia in 2000-2002 and 88.0% of all export by middle 2000s in million riyals. This means that the
export price income after selling crude oils and other mining products ensured 2354 riyal per employee of
this sector in 2000-2002 and 4357.4 riyal per employee of this sector in middle 2000s.
In general in Saudi Arabia the mining sector based on the crude oil withdraw could be efficient and
productive, because of the high world market price can provide enough highly export-price income for the
country with using less number of employees in this sector than in the other one. Less than 2% of all
employees produced 88% of all export of Saudi Arabia in 2000s. Even the share of employees in the mining
and quarrying sector has decreased since 2000s, but its share of export value remained at almost same level
in Saudi Arabia. Even the share of employees in the mining and quarrying sector has decreased since 2000s,
but its share of export value remained at almost same level in Saudi Arabia. The Saudi Arabia should develop
the manufacturing industries in order to produce highly value added products leading to higher export price
income, than to sell only crude oil to the world market. Also manufacturing value added production helps
Saudi Arabia to become diversified economy less sensitive from effects of the world economy.
because the economic growth is based on skilled level of labour forces and in the same time on the
innovation development. The mining sector of fossil energy in Saudi Arabia is basic principle sector, but the
Saudi economy needs to extent its economic structure in order that most of population of the country can
obtain jobs for employment. In general the mining sector is very efficient and productive in Saudi Arabia,
which means based on the innovation development this sector provides considerable share of the GDP and
export-price income for the country. The study uses analyse methods based on the statistical data and their
compares, which emphasizes the economic structure of Saudi Arabia concerning different economic sectors.
The data can provide overview on shares of some main economic branches and their roles in employment
issues and GDP production.
The mining and quarrying sector provided jobs for 1.78% of all employees in 2000 and 1.6% of them in
middle of 2000s in Saudi Arabia. In the same time the mineral products had 88.3% share of all export of
Saudi Arabia in 2000-2002 and 88.0% of all export by middle 2000s in million riyals. This means that the
export price income after selling crude oils and other mining products ensured 2354 riyal per employee of
this sector in 2000-2002 and 4357.4 riyal per employee of this sector in middle 2000s.
In general in Saudi Arabia the mining sector based on the crude oil withdraw could be efficient and
productive, because of the high world market price can provide enough highly export-price income for the
country with using less number of employees in this sector than in the other one. Less than 2% of all
employees produced 88% of all export of Saudi Arabia in 2000s. Even the share of employees in the mining
and quarrying sector has decreased since 2000s, but its share of export value remained at almost same level
in Saudi Arabia. Even the share of employees in the mining and quarrying sector has decreased since 2000s,
but its share of export value remained at almost same level in Saudi Arabia. The Saudi Arabia should develop
the manufacturing industries in order to produce highly value added products leading to higher export price
income, than to sell only crude oil to the world market. Also manufacturing value added production helps
Saudi Arabia to become diversified economy less sensitive from effects of the world economy.
Article Details
How to Cite
Alkahtani, Yaser Mueeth A. 2014. “Economic Structure Changes in Saudi Arabia”. Review on Agriculture and Rural Development 3 (1):375-80. https://www.iskolakultura.hu/index.php/rard/article/view/13451.
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