International Supply Chain Design Assignment Example | Topics and Well Written Essays - 2750 words

International Supply Chain Design - Assignment Example This country is currently rated as a high-income nation other vital statistics updated in 2012 including 97% of the rural population have access to water, life expectancy at birth stands at 75 years, and a national per-capita income of $24,310 (World-Bank, 2014). Saudi Arabia has among the largest oil reserves in the world and stands among the biggest suppliers of oil in the world. Before the transition of the economy to an oil-driven economy, Saudi Arabia had a slowly growing economy which was run by subsistence Agriculture. Through the years, the drafting of the national budget has highly been influenced by the estimated national oil price for the expected year. With sometimes the unpredictable oil price change implicated the first budget deficit in Saudi Arabia in 2009 (Ramady, 2010, p. 44). Thus, it is evident that this industry is the economy is over-dependent to the oil sector for the purpose of running its economy. To try to counter this, the government is advocating to suppor t other foreign and domestic investors to invest away from the oil market for the purpose to de-monopolize the country's economic outlook. Saudi Arabia is the largest oil supply in the world. As a kingdom, this country played a vital role in its contribution to the world’s economy. Oil exploration in this country was started as early as 1933 and ever since the nation has maintained its relevance to the global economy by controlling an asset that directly contributes to the stabilization of the world’s economy.