Saudi Arabia officially the Kingdom of Saudi Arabia (KSA) is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. With a land area of approximately 2,150,000 km2 (830,000 sq mi), Saudi Arabia is geographically the fifth-largest state in Asia and second-largest state in the Arab world after Algeria. Saudi Arabia is bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar, Bahrain and the United Arab Emirates to the east, Oman to the southeast and Yemen to the south. It is separated from Israel and Egypt by the Gulf of Aqaba. It is the only nation with both a Red Sea coast and a Persian Gulf coast and most of its terrain consists of arid desert and mountains.
Saudi Arabia’s command economy is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry. The oil industry comprises about 45% of Saudi Arabia’s nominal gross domestic product, compared with 40% from the private sector. Saudi Arabia officially has about 260 billion barrels of oil reserves, comprising about one-fifth of the world’s proven total petroleum reserves. In addition to petroleum and gas, Saudi also has a small gold mining sector in the Mahd adh Dhahab region and other mineral industries, an agricultural sector (especially in the southwest) based on dates and livestock, and a large number of temporary jobs created by the roughly two million annual hajj pilgrims.
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