Title: Economy of Saudi Arabia - Wikipedia
Headings: Economy of Saudi Arabia
Economy of Saudi Arabia
Contents
Economic overview
History
Foreign investment
Diversification and the development plans
Future plans
Employment
Non-petroleum sector
Real estate
Private sector
Trade
Challenges
Income drop
Demographics
Education
Innovation
Bureaucracy
Corruption
Poverty
Housing
Further diversification
Private sector growth
Investment
Doing business
Companies
Saudi ARAMCO
SABIC
Ma'aden (company)
ICT Services
See also
References
Notes
Further reading
External links

Content: This surplus that is accounted for $10.40 billion has been achieved due to the increase of the oil and non-oil revenues. Contents
1 Economic overview
2 History
2.1 Foreign investment
2.2 Diversification and the development plans
2.3 Future plans
3 Employment
4 Non-petroleum sector
5 Real estate
6 Private sector
7 Trade
8 Challenges
8.1 Income drop
8.2 Demographics
8.3 Education
8.4 Innovation
8.5 Bureaucracy
8.6 Corruption
8.7 Poverty
8.8 Housing
8.9 Further diversification
8.10 Private sector growth
9 Investment
9.1 Doing business
9.2 Companies
9.2.1 Saudi ARAMCO
9.2.2 SABIC
9.2.3 Ma'aden (company)
9.2.4 ICT Services
10 See also
11 References
12 Notes
13 Further reading
14 External links
Economic overview
Saudi oil reserves are the second largest in the world, and Saudi Arabia is the world's leading oil exporter and second largest producer. Proven reserves, according to figures provided by the Saudi government, are estimated to be 260 billion barrels (41 km 3 ), which is about one-quarter of world oil reserves. Petroleum in Saudi Arabia is not only plentiful but under pressure and close to the earth's surface. This makes it far cheaper and thus far more profitable to extract petroleum in Saudi Arabia than in many other places. The petroleum sector accounts for roughly 87% of Saudi budget revenues, 90% of export earnings, and 42% of GDP. Saudi Arabia's oil reserves and production are largely managed by the state-owned corporation Saudi Aramco. Another 40% of GDP comes from the private sector. An estimated 7.5 (2013) million foreigners work legally in Saudi Arabia, playing a crucial role in the Saudi economy, for example, in the oil and service sectors. The government has encouraged private sector growth for many years to lessen the kingdom's dependence on oil, and to increase employment opportunities for the swelling Saudi population.