<P> The economy of Saudi Arabia is dependent on oil and has strong government control over major economic activities . The Saudi economy is the largest in the Arab world . Saudi Arabia has the world 's second - largest proven petroleum reserves and the country is the largest exporter of petroleum . It has also the fifth - largest proven natural gas reserves . Saudi Arabia is considered an `` energy superpower '' . It has third highest total estimated value of natural resources , valued at US $34.4 trillion in 2016 . </P>
<P> The economy of Saudi Arabia is dependent on oil and has strong government control over major economic activities . The Saudi economy is the largest in the Arab world . Saudi Arabia has the world 's second - largest proven petroleum reserves and the country is the largest exporter of petroleum . It has also the fifth - largest proven natural gas reserves . Saudi Arabia is considered an `` energy superpower '' . It has third highest total estimated value of natural resources , valued at US $34.4 trillion in 2016 . </P>
what is the primary basis for the economy of saudi arabia
what is the primary basis for the economy of saudi arabia
oil
oil