Question

What factors that influence economic growth has saudi Arabia invested in?​

Answer 1

Saudi Arabia has invested heavily in capital goods, especially technology related to oil production, transportation, and communication. Saudi Arabia has very few natural resources, but the one they do have plenty of is oil. Oil production makes up the majority of Saudi Arabia's economic wealth.

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Answer 2

Its gross domestic product depends on oil revenues making up around 90-95% of total KSA export earnings with oil having contributed hugely to economic development. Oil was discovered in 1930 and its production started after World War II. The KSA oil reserves are the largest in the world, and the country is the world's leading oil producer and exporter.

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