Saudi Arabia Tenders

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Capital Riyadh
ISO 3166 Code SA
Population 31,521,418
Area, Sq KM 2,149,690
Currency Saudi riyal
Official Language Arabic
GDP, Billion USD 7,48,450
GDP Growth Rate, % 3.6
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % n/a
Exchange Rate, 1 USD Equals 3.75
International dial code 966
Time Zone GMT+03:00
Internet TLD .sa

Saudi Arabia is officially known as the Kingdom of Saudi Arabia. It is the largest Arab state located in Western Asia in terms of land area which is estimated to be approximately 2,150,000 square kilometers comprising the bulk of the Arabian Peninsula becoming the second-largest geographically in the entire Arab world. Saudi Arabia is bordered by Iraq and Jordan to the north, Kuwait on its northeast, Bahrain, Qatar and the United Arab Emirates to the east, Yemen in the south along with Oman to the southeast. Saudi Arabia is the only nation that has both a Persian Gulf Coast as well as a Red Sea coast. Most of the terrain of this country consists of arid inhospitable desert or barren landforms.Theterritory of modern-day Saudi Arabia mainly consisted of four distinct regions. The Kingdom of Saudi Arabia was founded in the year 1932. The four regions were united into a single state by the founder of the kingdom. Since then, the country has been an absolute monarchy and was governed along Islamic lines. Saudi Arabia is often called the Land of the Two Holy Mosques which is in reference to Al-Masjid al-Haram in Mecca, and Al-Masjid an-Nabawi, in Medina which are believed to be the two holiest places in Islam. The Kingdom is known to have a total population of 28.7 million out of which 8 million are foreigners and 20 million are Saudi nationals. Saudi Arabia is considered to be the second largest oil producer in the world along with being the largest exporter. The country is also responsible for controlling the second largest hydrocarbon reserves in the world. The kingdom is known to be a high income economy, backed by its fossil fuels. It has got a high Human Development Index. In fact Saudi Arabia is the only country which is a part of the G-20 major economies. Yet, Saudi Arabia is known to have the least diversified economy and is ruled by an authoritarian regime. It is also ranked as Not Free by the Freedom House.Saudi Arabia also has the fourth highest military expenditure in the entire world. The country is also known to be a middle as well as regional power. The economy of the country is petroleum based as 75% of budget revenues as well as 90% of export earnings are derived solely from the oil industry. 80 percent of the employees working in the country are non-saudi and the economy also relies strongly on the foreign workers who are mostly employed in the private sectors.

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