History Of Economic Growth in Saudi Arabia

The economic history of Saudi Arabia dates back to the early civilization of the Arabian Peninsula. The Arabian Peninsula played a central role in shaping the modern economic condition in Saudi Arabia as the key trade center. Various factors shape the economy of Saudi Arabia in different ways. Its location in the desert denies it a chance to practice any form of agriculture or livestock keeping. For many years, the economy of Saudi Arabia relied heavily on trade with its neighbors and the international community. With the development and progress in technology, Saudi Arabia can now practice significant percentage of agriculture and utilize a better portion of the desert land. Oil also forms the backbone of the Saudi Arabian economy today with 90% of its population relying on it for employment. It is now possible to practice agriculture through desalinizing seawater and practicing...
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