Saudi and Iraqi Economies
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Hello my friend Omar. Lovely day in Iraq isn't it?
Yes it is Azar, but I still miss my home of Saudi Arabia.
Can you tell me more on what Saudi Arabia was like?
I've already told you a lot, but I guess this time I can talk about the Saudi economy.
First things first, Saudi Arabia's economy type is mixed. This means that citizens can sell their own goods, but there is tons of government regulation just like in Iraq.
Also, both countries depend a lot on petroleum (oil) as a main export. Iran however, has it's service industries higher in its economy (51%) than oil (unlike in Saudi Arabia).
One other economic difference between the countries are that Iran is 10.5% arable while Saudi Arabia is only 1.5% arable. Another is that 10.6% percent of Saudi Arabia's population is jobless, while the Iranian jobless rate is 15.5%.
Iran has a higher GDP ($1.01 trillion) than Saudi Arabia ($921.7 billion), but Saudi Arabia has a higher literacy rate (87.2%) than Iran (85%). Overall, both economies have similarities and differences. I guess that's all you need to know about them.
Thank you Omar. I look forward to speaking with you again.
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