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ID: 839677
User: 165.155.200.116
Article: Saudi Arabia
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==Economy==
 
==Economy==
 
{{Main|Economy of Saudi Arabia}}
 
{{Main|Economy of Saudi Arabia}}
[[File:SaudiArabiaNetExports.PNG|thumb|300px|Saudi Arabia is the largest exporter of [[petroleum]] in the world]]
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[[File:SaudiArabiaNetExports.PNG|thumb|300px|Saudi Arabia is the largest exporter of [[petroleum]] in the world]]'''Bold text'''
   
 
Saudi Arabia's [[Planned economy|command economy]] is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry. The oil industry comprises about 45% of Saudi Arabia's [[gross domestic product]], compared with 40% from the private sector (see below). Saudi Arabia officially has about {{convert|260|Goilbbl|m3}} of [[oil reserves]], comprising about one-fifth of the world's proven total petroleum reserves.<ref>{{cite web|url=http://www.eia.doe.gov/emeu/international/reserves.html |title=World Proved Reserves of Oil and Natural Gas, Most Recent Estimates |publisher=Eia.doe.gov |date= |accessdate = 2010-05-01}}</ref>
 
Saudi Arabia's [[Planned economy|command economy]] is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry. The oil industry comprises about 45% of Saudi Arabia's [[gross domestic product]], compared with 40% from the private sector (see below). Saudi Arabia officially has about {{convert|260|Goilbbl|m3}} of [[oil reserves]], comprising about one-fifth of the world's proven total petroleum reserves.<ref>{{cite web|url=http://www.eia.doe.gov/emeu/international/reserves.html |title=World Proved Reserves of Oil and Natural Gas, Most Recent Estimates |publisher=Eia.doe.gov |date= |accessdate = 2010-05-01}}</ref>
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In the 1990s, Saudi Arabia experienced a significant contraction of oil revenues combined with a high rate of population growth. Per capita income fell from a high of $11,700 at the height of the oil boom in 1981 to $6,300 in 1998.<ref>[http://web.archive.org/web/20080226202420/http://www.jica.go.jp/english/global/pov/profiles/pdf/sau_eng.pdf Country Profile Study on Poverty: Saudi Arabia] (archived from [http://www.jica.go.jp/english/global/pov/profiles/pdf/sau_eng.pdf the original]{{Dead link|date=March 2010}} on 2008-02-26)</ref> [[2003 to 2011 world oil market chronology|Increases in oil prices since 2000]] have helped boost per capita GDP to $17,000 in 2007 dollars, or about $7,400 adjusted for inflation.<ref>{{cite web|url=http://data.bls.gov/cgi-bin/cpicalc.pl |title=CPI Inflation Calculator |publisher=Data.bls.gov |date= |accessdate = 2010-05-01}}</ref>
 
In the 1990s, Saudi Arabia experienced a significant contraction of oil revenues combined with a high rate of population growth. Per capita income fell from a high of $11,700 at the height of the oil boom in 1981 to $6,300 in 1998.<ref>[http://web.archive.org/web/20080226202420/http://www.jica.go.jp/english/global/pov/profiles/pdf/sau_eng.pdf Country Profile Study on Poverty: Saudi Arabia] (archived from [http://www.jica.go.jp/english/global/pov/profiles/pdf/sau_eng.pdf the original]{{Dead link|date=March 2010}} on 2008-02-26)</ref> [[2003 to 2011 world oil market chronology|Increases in oil prices since 2000]] have helped boost per capita GDP to $17,000 in 2007 dollars, or about $7,400 adjusted for inflation.<ref>{{cite web|url=http://data.bls.gov/cgi-bin/cpicalc.pl |title=CPI Inflation Calculator |publisher=Data.bls.gov |date= |accessdate = 2010-05-01}}</ref>
   
Oil price increases of 2008–2009 have triggered a second oil boom, pushing Saudi Arabia's budget surplus to $28 billion (110SR billion) in 2005. [[Tadawul]] (the Saudi stock market index) finished 2004 with a massive 76.23% to close at 4437.58 points. [[Market capitalization]] was up 110.14% from a year earlier to stand at $157.3 billion (589.93SR billion), which makes it the biggest stock market in the [[Middle East]].‏
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Oil price increases of 2012- 2013 have triggered a second oil boom, pushing Saudi Arabia's budget surplus to $2 dollars (110SR billion) in 2005. [[Tadawul]] (the Saudi stock market index) finished 2004 with a massive 76.23% to close at 4437.58 points. [[Market capitalization]] was up 110.14% from a year earlier to stand at $157.3 billion (589.93SR billion), which makes it the biggest stock market in the [[Middle East]].‏
   
 
[[OPEC]] (the Organization of Petroleum Exporting Countries) limits its members' oil production based on their "proven reserves." The higher their reserves, the more OPEC allows them to produce.{{Citation needed|date=September 2007}} Saudi Arabia's published reserves have shown little change since 1980, with the main exception being an increase of about {{convert|100|Goilbbl|m3}} between 1987 and 1988.<ref>{{cite web|url=http://www.eia.doe.gov/pub/international/iealf/crudeoilreserves.xls |title=Crude Oil Reserves |date= |accessdate = 2010-05-01}}</ref> [[Matthew Simmons]] has suggested that Saudi Arabia is greatly exaggerating its reserves and may soon show production declines (see [[peak oil]]).<ref>{{Cite book
 
[[OPEC]] (the Organization of Petroleum Exporting Countries) limits its members' oil production based on their "proven reserves." The higher their reserves, the more OPEC allows them to produce.{{Citation needed|date=September 2007}} Saudi Arabia's published reserves have shown little change since 1980, with the main exception being an increase of about {{convert|100|Goilbbl|m3}} between 1987 and 1988.<ref>{{cite web|url=http://www.eia.doe.gov/pub/international/iealf/crudeoilreserves.xls |title=Crude Oil Reserves |date= |accessdate = 2010-05-01}}</ref> [[Matthew Simmons]] has suggested that Saudi Arabia is greatly exaggerating its reserves and may soon show production declines (see [[peak oil]]).<ref>{{Cite book
Reason: ANN scored at 0.872894
Reporter Information
Reporter: Bradley (anonymous)
Date: Thursday, the 22nd of October 2015 at 08:59:49 PM
Status: Reported
Thursday, the 22nd of October 2015 at 08:59:49 PM #101900
Bradley (anonymous)

leJbwJ http://www.FyLitCl7Pf7kjQdDUOLQOuaxTXbj5iNG.com

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