Balancing Development amidst Diversification
Saudi oil reserves are the largest in the world, and Saudi Arabia is the world's leading oil producer and exporter. Oil accounts for more than 90% of the country's exports and nearly 75% of government revenues. Proven reserves are estimated to be 263 billion barrels, about one-quarter of world oil reserves.
More than 95% of all Saudi oil is produced on behalf of the Saudi Government by the parastatal giant Saudi ARAMCO.
Currently in the midst of an eighth 5-year development plan (2005-2010) Saudi Arabia is focused on economic diversification in addition to education and inclusion of women in society.
