Saudi Arabia is among the twenty most important industrial and emerging countries (G-20), and it is the main member of the OPEC countries, the Organization of the Petroleum Exporting Countries: With 36.62 billion tons, Saudi Arabia possesses the largest conventional oil reserves worldwide , together with the United States, it is the leading oil producing country. Among the countries with the largest gross domestic product, Saudi Arabia is ranked 20th with a growing GDP and a consequently increasing GDP per capita. The latest unemployment figures indicate a stable unemployment rate of approximately 5 to 6 percent since 2009.
Thanks to its oil exports, Saudi Arabia has been reporting a significant trade balance surplus over the past years, which has slumped suddenly since 2015 . Its main trade partners are Japan, China and the United States with regards to export, and China, the United States and Germany regarding import.
Over the last decade, Saudi Arabia was able to reduce its national debt considerably, placing it among the countries with the lowest national debt. Its national debt is, however, expected to increase again significantly by 2022.