Saudi Arabia's
economy is based on free and private enterprise. Although it
is still the world's greatest oil exporter and possesses the
largest oil reserves, Saudi Arabia now has a thriving
non-oil economic sector which produces a variety of products
and exports to more than 70 countries. In 1992 the gross
domestic product (GDP) stood at 112.98 billion U.S dollar.
The non-oil sector's share increased from 46 percent in 1970
to 67 percent in 1992, the private sector produced 44.26
billion dollars of goods and services. Per capita income was
6,685 dollars.
ECONOMY: