Wednesday, January 1, 2014

Rank and Economy

The rank of Saudi Arabia from the poorest is 142 and from the richest is 57 using atlas method in 2003. The gdp per capita using atlas method is 8,530$. In other methods IMF,WB, and CIA using nominal methods is
IMF..................................................WB....................................................CIA
rank/measure...................................rank/measure.......................................rank/measure
39/15,724.....................................32,15,775..........................................44/13,630
Saudi Arabia’s economic freedom score is 60.6, making its economy the 82nd freest in the 2013 Index. Its score is 1.9 points worse than last year due to substantial declines in business freedom, property rights, trade freedom, and freedom from corruption. Saudi Arabia is ranked 8th out of 15 countries in the Middle East/North Africa region, and its overall score remains above the world average.
Driven largely by high oil prices and expansionary public spending, Saudi Arabia’s economy has expanded at an average growth rate of 3.5 percent over the past five years. However, there has been little progress in structural and institutional reform. The kingdom has lost economic freedom two years in a row, recording one of the 15 largest score declines in the 2013 Index. The perceived level of corruption has increased, and the legal system remains susceptible to political influence. Saudi Arabia’s property rights score is now lower than the world average.
Despite some progress in previous years, the competitiveness of regulatory efficiency and open-market policies is also lagging behind other emerging economies. Dynamic gains from free flows of trade and investment continue to be undermined by bureaucracy and a lack of transparency