Economy of Saudi Arabia

By:Nicole Siphambili

Economy of Saudi Arabia

The country type of economic system of Saudi Arabia is a MIXED economy. How the country decides what to produce is that most industries are controlled by individual except oil. How the country decides how goods will be produced, the oil industries is controlled by the king. How the country decides for whom goods will be produced , the consumers except for oil. Below you will see a coin in Saudia Arabia in the 1972.There main goods produced in Saudi Arabia is wheat, dates, dairy products, egg, fish, poultry ,fruits, vegetables and flowers. The Saudi currency is Saudi Riyal. The it take 3.75 to exchange to one of our US dollars .They come from a command economy to a market economy and diversity and more business.That is how they plan for the economic future. The economic continuum Saudi Arabia is on the market side and it is less free than USA and Israel. Saudi Arabia has more freedom than Turkey and Iran.

The ways Saudi Arabia is should be to be more competitive on the world market is to build boats to transfer their goods to another place. They also need to lower their price down a little they might get some progress going.Another option is that they need a company to make it and sell it online, and also at the market and they can make a lot off of money on that in many ways. One last one I have to say is that they need like a ship, boat, bus or something to transfer their items.

For Saudi Arabia to improve their economy i believe that they should low their prices a little to get more business.Then they should build more shops,stores,and buildings to get more money.That is all I know about the way Saudi Arabia can improve their economy.

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