Saudi and Iraqi Economies

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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