(Economic developments in the Kingdom of Saudi Arabia during the reign of King Fahd (1981-2005))

Saudi Arabia depended on herding and agriculture in its economy in the thirties and forties of the twentieth century, but after the next two decades it developed relatively economically, especially after the discovery of oil, where a contract was signed with the American company Aramco to explore and extract oil, where it obtained acceptable profits, but the Saudi economic launch began in the late seventies and early eighties of the last century, and it began to implement sound economic plans, as it paid significant attention to non-oil industries and had a major role in the development of the Saudi economy and the pursuit and contribution to self-sufficiency in all needs Saudi Arabia is the leading Arab country economically, as this country has a material and moral economy globally. The Saudi economy is ranked ninth in terms of its economic stability and one of the twenty largest countries in the world in terms of economy and eleventh in terms of the attractive environment for investment in the world. It has about 02% of the world's oil reserves. The average income per capita in Saudi Arabia is about (78) thousand riyals..