Saudi Arabia is one of many oil-based economies with strong government control over major economic activities that enjoy high GDP. Its GDP (PPP) per capita is $54,43`. Saudi Arabia possesses 18% of the world's proven petroleum reserves and ranks as the largest exporter of petroleum. It played a leading role in OPEC for many years.The petroleum sector accounts for almost all of Saudi government revenues and export earnings. Despite possessing the largest petroleum reserves in the world, its per capita income is much smaller than of that of smaller Persian Gulf neighbors.
