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Protectionism in Saudi

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Saudi Arabia currently has a vast variety of tariffs (or duties) implemented on many different types of agricultural and industrial products. I however looked more specifically into the tariffs implemented on specific dates and flour. According to "export.gov", there is a 40 percent import tariff rate that is applied to fresh, dried/processed dates and 25 percent on wheat flour. This means that the Saudi government charges other foreign producers a certain percent of their retail price for the said product upon entry into their country. This is a tactic used by the Saudi government in order to protect domestic producers from larger foreign producers as well as to generate more income for the government, thus creating more opportunities for further investment in their infrastructure/economy.  The theoretical results of these tariffs shown on the graph are as follows: The domestic producers of flour and wheat are the biggest beneficiaries of these tariffs as it makes it more ex...
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Fiscal Policy In Saudi

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Andreas Cantu  In 2017, Saudi Arabia was in discussion over two new fiscal policies.  1. the first would look to decrease the overall government spending in an attempt to lower their fiscal deficit to 7.7% of GDP in 2017 from the 11.7% in 2016.  2. The second policy would go hand-in-hand with the first as they looked to better allocate the remaining government spending.  However, government spending is one of the key drivers of all economic activity in Saudi Arabia, so the contraction of their spending in certain major sectors (oil) will require more advocation of the private sector in order for the economy to not completely fail after the decrease in spending. The decrease will also result in an increase in taxation and fees, as well as newer sources of capital as the private sector increases.  The largest stakeholders and advocate for both these policies would be the country of Saudi Arabia itself. As the world slowly moves from oil and with oil accounting for...
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Aggregate Supply

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Changes in AS/LARS in Saudi Arabia  Saudi Arabia has seen has a decline in its labor productivity growth and unemployment rate since 2019. As of January 2021, its unemployment rate is %7.4  and as of December 2020, its labor productivity growth was %-3.586.  The GDP per hour worked is unavailable for public viewing, this could reflect their political standings and what they want other countries to know about them  Labour Productivity  Unemployment Rate  Saudi's Exports  Saudi Arabia has a vital role in meeting world energy needs because it has over 25 percent of the free world's known oil reserves and the ability to increase or decrease oil production. Consequently though, with their immense amount of oil production, their greenhouse gas emissions continue to rise which could cause environmental problems in the long run. However, since 2014 oil prices have fallen steadily and Saudi can no longer rely on their oil revenue and public spending to grow the...
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Exercise 13.2

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 Andreas Cantu  Saudi Arabia  Observation:  As the GDP went down in 2015 - 2017, the GDP per capita went up (I am assuming a lot of people died)  Their account balance also went down as their GDP went down, I imagine that they could have been importing more than they were exporting. They also could've been placing money into investments for long-term profits.  GDP went down in 2020 by roughly 92 million and the unemployment rate went up  - Real GDP for the last 10 years in USD GDP 2020 - 700,118 USD  - Real GDP per capita for the last 10 years in USD  - Real GDP growth per year for the last 10 years in USD  - Hidden economy    they account for between 20 and 30 percent  - Unemployment rate per year for the last 10 years  - Inflation rate per year for the last 10 years  - Current account balance in USD 
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