Diplomatic representation in US: chief of mission: Ambassador BANDAR bin Sultan Abd al-Aziz Al Saud chancery: 601 New Hampshire Avenue NW, Washington, DC 20037 telephone: [1] (202) 342-3800 consulate(s) general: Houston, Los Angeles, and New York
US diplomatic representation: chief of mission: Ambassador Raymond E. MABUS, Jr. embassy: Collector Road M, Diplomatic Quarter, Riyadh mailing address: American Embassy, Unit 61307, Riyadh; International Mail: P. O. Box 94309, Riyadh 11693; APO AE 09803-1307 telephone: [966] (1) 488-3800 FAX: [966] (1) 482-4364 consulate(s) general: Dhahran, Jiddah (Jeddah)
Flag: green with large white Arabic script (that may be translated as There is no God but God; Muhammad is the Messenger of God) above a white horizontal saber (the tip points to the hoist side); green is the traditional color of Islam
@Saudi Arabia:Economy
Overview: This is a well-to-do oil-based economy with strong government controls over major economic activities. About 46% of GDP comes from the private sector. Economic (as well as political) ties with the US are especially strong. The petroleum sector accounts for roughly 75% of budget revenues, 35% of GDP, and almost all export earnings. Saudi Arabia has the largest reserves of petroleum in the world (26% of the proved total), ranks as the largest exporter of petroleum, and plays a leading role in OPEC. For the 1990s the government intends to bring its budget, which has been in deficit since 1983, back into balance, and to encourage private economic activity. Roughly four million foreign workers play an important role in the Saudi economy, for example, in the oil and banking sectors. For about a decade, Saudi Arabia's domestic and international outlays have outstripped its income, and the government has cut its foreign assistance and is beginning to rein in domestic programs. For 1995, the country looks for improvement in oil prices and will continue its policies of restraining public spending and encouraging non-oil exports.
National product: GDP - purchasing power parity - $173.1 billion (1994 est.)
National product real growth rate: -3% (1994 est.)
National product per capita: $9,510 (1994 est.)
Inflation rate (consumer prices): 1% (1993 est.)
Unemployment rate: 6.5% (1992 est.)