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Essay

Saudi Arabia Joining WTO

Essay specific features

 

Issue:

Business

 

Written by:

Alexandra E

 

Date added:

December 18, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

13 / 3524

 

Was viewed:

9057 times

 

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Essay content:

Oil and oil derivatives make up around 90-95% of total Saudi export earnings, 75% of budget revenues and approximately 35-40% of GDP. The government decision in May 2001 to reduce applied tariff rates on most imports to 5% resulted in lower customs receipts accruing to the budget. Saudi Arabia has 260 billion barrels of proven oil reserves and up to 1 trillion barrels of ultimately recoverable oil...
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The government decision in May 2001 to reduce applied tariff rates on most imports to 5% resulted in lower customs receipts accruing to the budget. Saudi Arabia has 260 billion barrels of proven oil reserves and up to 1 trillion barrels of ultimately recoverable oil. Saudi Arabia is one of the world's largest producers (currently slightly more than seven million barrels per day), exporters and holders of spare oil production (about 3 million barrels per day)...
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