Saudi Arabia has an oil-based economy with strong government
control over major economic activities. Saudi Arabia possesses
25% of the world's proven petroleum reserves, ranks as the
largest exporter of petroleum, and plays a leading role in OPEC.
Saudi Arabia's economy is a centrally planned economy. However,
there are some private companies in Saudi Arabia. They are strictly
controlled and regulated by the Saudi Arabian government, though.
control over major economic activities. Saudi Arabia possesses
25% of the world's proven petroleum reserves, ranks as the
largest exporter of petroleum, and plays a leading role in OPEC.
Saudi Arabia's economy is a centrally planned economy. However,
there are some private companies in Saudi Arabia. They are strictly
controlled and regulated by the Saudi Arabian government, though.
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