Asia’s 2018 Richest and Poorest Countries

Saudi Arabia

Saudi Arabia had a population of approximately 26.9 million people in 2013 with about 21% of the number being foreign non-nationalized immigrants. With an average birthrate of 3%, which is one of the highest in the world, the country’s population has grown rapidly from a low of 3 million in 1950 to the current high.

Saudi Arabia is the Middle East’s largest economy and the 18th largest in the world. Its 2017 GDP was estimated at $683.82 billion with the PPP GDP estimated at $1.77 trillion. The economy is vulnerable to shocks particularly in the prices of oil as it is primarily an oil-based economy. The country has approximately 18% of proven petroleum reserves in the world.

credit: Wikipedia
It is the world’s largest exporter of petroleum and the gas and oil sector account for 70% of their export earnings and half of its GDP. The country is also rich in other resources such as copper, gold, iron ore and natural gas, though these are not as developed as the oil industry.

Population ranking (world): 40th
Total GDP ranking (world): 18th
Per capita GDP ranking (world): 35th