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Saudi Arabia

Profile

Saudi_Arabia_map_527x286px Saudi+Arabia+flag King+Abdullah+bin+Abdulaziz+al-Saud
Saudi Arabia
Leader
King Abdullah bin Abdulaziz al-Saud

Saudi Arabia country datafile
Country overview
Government contacts

Country data

Iran 2008 2009 2010 2011 2012f 2013f 2014f
Nominal GDP ($bn) 519.8 429.1 526.8 669.5 734.0 745.3 772.6
GDP per capita ($) 20,157 16,095 19,113* 23,594 25,139 24.847 25.229
Real GDP growth (annual change, %) 8.4 1.8 7.4 8.6 5.8 3.8 4.1
Government revenue (% of GDP) 60.5 36.0 41.6 47.5 50.3 44.4 42.6
Government total expenditure (% of GDP) 29.0 40.0 39.5 35.5 35.7 36.1 35.5
Total government debt (gross, % of GDP) 12.1 14.0 8.4 5.4 3.6 2.7 2.6
Current account balance (% of GDP) 25.5 4.9 12.7 23.7 24.4 17.4 15.8
Value of oil imports 0 0 0 0 0 0 0
Value of oil exports 281 163.1 215.2 317.6 350.3 327.1 309.1
Inflation (%) 6.1 4.1 3.8 3.7 2.9 3.5 3.0
Click to see full economic data (2005 - 2018 forecast)
Source: International Monetary Fund, World Economic Outlook Database; Last updated: July 2014; *=Estimate

Saudi Arabia trends

Challenge: One barrier to developing alternative energy is the existence of fuel subsidies in the region

Region set to miss 2020 renewables target Subscription

30 October 2014 | By

Lack of regulatory frameworks holds back development of alternative energy in the Middle East and North Africa

The proliferation of utilising 3D modelling in science, design and engineering has meant the region’s hydrocarbons industry now values candidates with experience in innovation and technology

Attracting the brightest minds Subscription

27 October 2014 | By

The use of cutting-edge information technology in the region’s hydrocarbons sector means oil companies are looking to hire candidates with expertise in information technology

R&D spending: Aramco is likely to rival foreign oil firms

Region firmly focused on future well-being Subscription

27 October 2014 | By

Saudi Arabia, Qatar and the UAE are making good strides in advancing their research and development capabilities in the hydrocarbons sector

Electricity supply and power and water projects

Riyadh struggles to keep pace with demand Subscription

27 October 2014 | By James Gavin

Amid rising residential and industrial requirements for power and water, the kingdom is taking steps to boost capacity and curb excessive consumption

Pressure: Other Opec members will try to convince Riyadh to cut production at the group’s November meeting

Riyadh bides its time Subscription

23 October 2014 | By

With massive cash reserves to fall back on, the kingdom is in no hurry to exert its influence on oil prices

Power

GDF Suez consolidates its position Subscription

23 October 2014 | By

The group’s success in winning Kuwait’s first independent water and power project has bolstered its dominance in the GCC’s private developer market

Middle East contracts September 2014

Middle East contracts awarded: September 2014 Subscription

16 October 2014

Over $2bn of contracts awarded in September in the Middle East

Saudi banks quarterly profits

Saudi lenders post solid third-quarter profits Subscription

16 October 2014 | By

Kingdom’s banking sector remains highly competitive

Nationals in petrochemicals workforce

GCC chemicals industry creating local jobs with varied success Subscription

14 October 2014 | By

Industry group says almost 150,000 people directly employed in regional chemicals sector

Middle East contracts awarded August 2014

Middle East contracts awarded: August 2014 Subscription

14 October 2014

Over $3bn of contracts awarded in August in the Middle East

Filter Saudi Arabia analysis by sector

MEED comment

Acwa Power shows local developers can succeed

Acwa Power shows local developers can succeed

23 October 2014 | By

Saudi firm’s rise demonstrates local companies can play major part in utility sector

Elevated railway could be built across the desert to mitigate the impact of sand storms

Saudi Landbridge could be more than just a name

23 October 2014 | By

Elevated railway could be built across the desert to mitigate the impact of sand storms

Oil price erosion forms cracks between Opec members

Oil price erosion forms cracks between Opec members

23 October 2014 | By

Prospect of lower prices ahead triggers call for action from group’s fragile economies

Oil prices

Hard economics overtakes geopolitics for oil

2 October 2014 | By

Oil prices could stay below $100 a barrel for some time

Riyadh reluctantly joins Isis air strikes

Riyadh reluctantly joins Isis air strikes

2 October 2014 | By James Gavin

Kingdom’s discomfort is clearly evident

Construction workers

Solving the Saudi labour crisis

18 September 2014 | By

Compromise is needed from both sides to achieve this difficult mission

Fertiliser production facility

Fertiliser industry facing tough times

18 September 2014 | By

Global overcapacity could mean lower margins for expanding GCC industry

Yanbu petrochemicals

The expansion challenge for Farabi

11 September 2014 | By

Building a petrochemicals plant is always difficult, but Farabi faces doing so without state ownership

More MEED commentary

Special reports

Power and water

Region’s utility sector races to meet demand

30 October 2014 | By

With rapid population and industrial growth, the Middle East and North Africa is a key market for companies involved in the power and water sectors

Riyadh in Saudi Arabia

Saudi Arabia: Foreign investment to boost Tadawul

2 October 2014

The Saudi Stock Exchange is about to embark on a period of significant growth as it opens its doors to foreign investors next year

Region: Political stability a must to be able to go nuclear

Nuclear: Backing key to plans

7 August 2014

The highly regulated nature and requirements of the nuclear power industry means foreign support is key to the region’s ambitions

Riyadh

Saudi Arabia: Iraq crisis raises fears in Riyadh Subscription

10 July 2014

Saudi Arabia has a central role to play in leading the response to the crisis unfolding in its northern neighbour

Saudi Arabia

Saudi Arabia: Non-oil sector boosts Tadawul Subscription

30 April 2014

On the back of their imminent upgrade to emerging market status, the UAE and Qatar stock markets have, as expected, surged this year

GCC real estate

Real Estate: GCC property markets stabilising Subscription

18 March 2014

There is an uptick in demand for residential and commercial property across the region, with just one or two exceptions

More Saudi Arabia special reports

Market presentations

Dubai creek

Managing the Boom: The Outlook for the Middle East Subscription

23 July 2014

Opportunities and challenges for businesses in the region created by the new projects boom

Qatar metro

Webinar: GCC metro and rail projects Subscription

12 September 2013

MEED’s analysis and forecast presentation on the metro projects in the region

Middle East Outlook 2013

A region in transition: Middle East outlook 2013 and beyond Subscription

18 August 2013

Insight and analysis on the economic and projects outlook for the Middle East

Project Finance

Webinar: Middle East project finance outlook Subscription

17 June 2013

Market constraints to continue, with deals flowing to most stable markets in the region

Mena renewables 2013

Webinar: MENA Renewable Energy Subscription

12 May 2013

In this presentation, MEED discusses the trends and prospects for renewable power in the region

After the Uprisings webinar

After the Uprisings: The outlook for business in the Middle East in 2013 and beyond Subscription

4 March 2013

A webinar on the region’s business environment, providing current data and exclusive expert analysis drawn from MEED’s team of experts

Top 100 projects 2012

Top 100 projects: The Middle East market gains momentum Subscription

3 February 2013

This webinar examines projects market trends in the region and forecasts which countries and sectors will grow in 2013

Wastewater

Webinar: Project opportunities in GCC wastewater Subscription

15 May 2012

Join MEED for an exclusive online seminar looking at the Gulf wastewater sector

Barzan: The gas project raised $5.7bn

Rebuilding the Middle East: Prospects for the projects market 2012 Subscription

6 February 2012

MEED’s webinar looks at expected growth in the Middle East and North Africa

Top 10 projects

Rank

Rank Project Name Sector Contract value ($m)
1 Riyadh Light Rail Transit (Riyadh Metro): Lines 1 & 2 Transport 9,450
2 Haramain High-Speed Rail Network: Phase 2 Transport 8,396
3 Riyadh Light Rail Transit (Riyadh Metro): Lines 4, 5 & 6 Transport 7,820
4 Riyadh Light Rail Transit (Riyadh Metro): Line 3 Transport 5,942
5 King Abdulaziz International Airport: Phase 1: New Terminal: Package 1 Transport 4,034
6 Housing Development: Phase 2 Construction 3,600
7 Abraj Kudai in Mecca Construction 3,500
8 Rabigh Power Plant Extension: Phase 6 Power 3,400
9 King Abdulla bin Abdulaziz Project: Riyadh Security Forces Medical Complex Construction 3,350
9 King Abdulla bin Abdulaziz Project: Jeddah Security Forces Medical Complex Construction 3,350
Click through to the full data table on Saudi Arabia's biggest projects in construction
Click through to MEED's Q2 2014 Top 100 Projects report
Source: MEED Projects; Data compiled: September 2014; All projects are in construction

Project awards

Saudi Aramco's Khurais oil field in Saudi Arabia

Aramco confirms Saipem for $2bn Khurais deal Subscription

29 October 2014 | By

Italian contractor will construct main processing facilities at oilfield expansion

Contractors have submitted technical proposals for the contract to build a power plant at the Waad al-Shamal phosphate mining development

Technical bids in for Waad al-Shamal power plant Subscription

29 October 2014 | By

Integrated power plant will contain solar component

Al-Sawfa Cement awards $127m plant deal

Al-Sawfa Cement awards $127m plant deal Subscription

22 October 2014 | By

Germany’s ThyssenKrupp Industrial Solutions wins deal to build production line

Aramco gas exports

Aramco awards Sepco $1.3bn gas contract Subscription

22 October 2014 | By

Chinese contractor secures booster compressor stations deal after close bid round

Yokogawa wins Rabigh 2 power plant control systems deal

Yokogawa wins Rabigh 2 control systems deal Subscription

20 October 2014 | By

Saudi power plant being built by Samsung C&T

The larger of the two orders is for King Faisal Medical City in Abha in the Asir province

Joint venture wins Saudi medical deals Subscription

6 October 2014 | By

Two contract awards total more that $2.66bn

Riyadh Metro

Saudi Arabia awards Riyadh metro power contracts Subscription

2 October 2014 | By

Seven contracts awarded worth a total of $693m to supply electricity to the Riyadh Metro.

Pipes

Saudi Arabia awards water pipeline contracts Subscription

28 September 2014 | By

Pipelines are part of new city feeder plan for Riyadh

Electricity substation

Siemens wins Saudi Arabia electricity contracts Subscription

4 September 2014 | By

German company will install components at a number of substations throughout the country

Gasification

Aramco on verge of awarding Linde Jizan air supply deal Subscription

1 September 2014 | By

Scheme will involve some third-party ownership and is worth well in excess of $1bn

Projects trends

Gulf Projects Index

Gulf index falls back to September levels Subscription

30 October 2014

UAE and Qatar record biggest declines in value of projects markets

Gulf projects index

Gulf index rises on Qatar growth Subscription

23 October 2014

Gas-rich state records expansion of 3.4 per cent in value of projects market

Gulf projects index

GCC market makes small gains Subscription

16 October 2014

Oman records the strongest growth, while Iraq’s index freefall slows despite clashes

More Gulf Projects Index articles

People

Sami al-Louzi Subscription

20 July 2014

Sami al-Louzi is partner in Riyadh and Dubai at Latham & Watkins

Harj Rai Subscription

20 July 2014

Harj Rai is partner in Riyadh and Dubai at Latham & Watkins

Craig Nethercott Subscription

20 July 2014

Craig Nethercott is partner in Riyadh and Dubai at Latham & Watkins

Salman al-Sudairi Subscription

20 July 2014

Salman al-Sudairi is partner, Riyadh at Latham & Watkins

Amar Meher Subscription

20 July 2014

Amar Meher is counsel in Riyadh at Latham & Watkins

Omar Elsayed Subscription

20 July 2014

Omar Elsayed is counsel in Riyadh at Latham & Watkins

See all Saudi Arabia biographies

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