The minimum monthly wage in Saudi Arabia is not regulated by the government. Saudi Arabia has a government debt of 12.9% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Saudi Arabia is 3.7%. The currency of Saudi Arabia is Saudi riyal. The plural form of the word Saudi riyal is riyals. The symbol used for this currency is ر.س, and it is abbreviated as SAR. The Saudi riyal is divided into halala; there are 100 in one riyal. Each year, consumers spend around $222,210 million. The ratio of consumer spending to GDP in Saudi Arabia is 0.03%, and the ratio of consumer spending to the world consumer market is 52%. The corporate tax in Saudi Arabia is set at 0%. VAT in Saudi Arabia is 0%.
Gross Domestic Product The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Saudi Arabia is $1,609,628 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Saudi Arabia was last recorded at $47,970,780. PPP in Saudi Arabia is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Saudi Arabia is 748,450 billion. Based on this statistic, Saudi Arabia is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Saudi Arabia. The Gross Domestic Product (GDP) per capita in Saudi Arabia was last recorded at $22,305,607. The average citizen in Saudi Arabia has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Saudi Arabia averaged 3.6% in 2014. According to this percentage, Saudi Arabia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.