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Posted by / 07-Aug-2017 01:20

In addition, five-year plans were directed toward increasing the share of private enterprise in the economy in an effort to move away from dependence on oil exports and to generate jobs.

At its founding, the kingdom inherited the simple, tribal economy of Arabia.

Concrete and earth-filled dams have been built, primarily in the southwest, to store water for irrigation and as a means of flood control.

As early as 1923, Ibn Saʿūd granted an oil-prospecting concession to a British company, but this concession was never exploited.

Of the cultivated land, about half consists of rain-fed dry farming (mostly in Asir), two-fifths is in tree crops, and the remainder is irrigated.

Most of the irrigated areas—in the districts of Riyadh and Al-Qaṣīm, for example, and near Al-Hufūf in Al-Sharqiyyah province—utilize underground water.

During that time, unemployment was all but nonexistent—large numbers of foreign workers were imported to do the most menial and the most highly technical tasks—and per capita income and gross domestic product (GDP) per capita were among the highest in the non-Western world.

Long-range economic development has been directed through a series of five-year plans.

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Aramco constructed a massive gas-gathering system and, parallel to Petroline, a pipeline for transporting natural-gas liquids, which reached Yanbuʿ in 1981.

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