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Transportation between cities separated by miles of barren desert
was on rough unpaved roads. Agriculture was limited and industry
was almost nonexistent. The annual pilgrimage of Muslims to the
Holy Cities of Makkah and Madinah represented a primary source
of revenue.
Undaunted by these obstacles, the visionary King Abdulaziz began
to make plans for the laying down of the country's infrastructure.
Addressing the most fundamental concerns-education, health, transportation,
agriculture and industry-he initiated the remarkable development
that continues today. This development was enhanced by the discovery
of oil in the 1930s.
Having invested approximately 900 billion U.S. dollars in developing
its social and economic structure, Saudi Arabia has undergone
a remarkable transformation over the relatively short time span
of some seven decades.
Where it once was forced to import all of the manufactured products
it consumed, Saudi Arabia now has a vast industrial base and
its factories supply a large portion of the needs of the country's
domestic markets. Fishing villages on the Red Sea and the Arabian
Gulf that were once a collection of huts have been transformed
into bustling centers of industry, producing and exporting everything
from petrochemicals to electronics to over 90 countries.
One of the fastest developing countries in the world, Saudi
Arabia is the most dynamic economic power in the Arab world and
ranks 20th globally in the size of its economy.
Trade
Saudi Arabia is the 19th largest exporter and the 20th largest
import market in the world. Exports now represent all economic
sectors. Annual non-oil exports increased from the 1970 figure
of 7.46 million to more than 8 billion U.S. dollars by the end
of the 1990s. Topping the list of exports to some 90 countries
are petrochemicals, plastics, metal goods, construction materials,
and electrical appliances. This sustained growth in non-oil exports
reflects the success of the government's economic reforms and
trade policies.
Saudi Arabia 's growth is continuing under the current Seventh
Development Plan (2000-04), which calls for expanding the private
sector and increasing the efficiency of existing services. It
emphasizes privatization as a strategic economic option that
lowers costs, improves performance, and provides jobs for citizens.
It also provides for improving the quality of education to enable
future generations of citizens to better contribute to their
country's continued development.
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