as we see on the graph in the 80’s saudi arabia GDP per capita was increasing until 1981 where it was 17,543.52$ which mean growth in the economy and tends to translate as an increase in productivity (measures the country's standard of living).
“this increase is because that saudi arabia increases the oil prices because of Iraq repels first major Iranian offensive.” (http://en.wikipedia.org)
then after that we see huge drop on the GDP.
“because that Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices.”(http://en.wikipedia.org)
as we see on the graph in the 80’s saudi arabia GDP per capita was increasing until 1981 where it was 17,543.52$ which mean growth in the economy and tends to translate as an increase in productivity (measures the country's standard of living).
ReplyDelete“this increase is because that saudi arabia increases the oil prices because of Iraq repels first major Iranian offensive.” (http://en.wikipedia.org)
then after that we see huge drop on the GDP.
“because that Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices.”(http://en.wikipedia.org)