Saudi Arabia is a sovereign Arab state in Western Asia constituting the bulk of the Arabian Peninsula. The country's command economy is petroleum-based but slowly diversifying; in 2017 58% of budget revenues and 85% of export earnings came from the oil industry.[1][2] The country plans to reduce oil-based revenues to 42% by 2023.[3] A considerable proportion of Saudi companies are owned by families, including the royal family.
Public companies are listed on the Tadawul. For further information on the types of business entities in this country and their abbreviations, see "Business entities in Saudi Arabia".
^"An expansionary budget with focus on diversification". Saudi Gazette. 2017-12-20. Retrieved 2018-01-07.
^Karen Gilchrist (2017-09-07). "Saudi Arabia is reportedly revising its ambitious plans to change its economy". Cnbc.com. Retrieved 2018-01-07.
^"oil prices: Saudi to slash oil dependence to less than half of budget - The Economic Times". Economictimes.indiatimes.com. 2017-12-20. Retrieved 2018-01-07.
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