Re:Saudi stocks slump as minister warns of ‘painful’ measure...
by haltingproblem on Sunday May 03, 2020 @09:34PM
(#23063646)
I would speculate that most of what SA exports is heavily subsidized and unprofitable. Dates flourish in the Arabian desert around an oasis. Where are they getting the water for the dates and water for milch for dairy, ...?
Probably desalination plants run on Oil.
I am sure they can keep doing this but this is not a natural extension of any of their strengths. Their labor is over priced and mostly imported south asians, overburdened by heavy bureaucracy and lacking in the inputs of production.
Would you open a dairy farm in Namibia? If they really have to tighten their belts they will have to cut down on all these "extra-curricular" economic activities.
Re:Saudi stocks slump as minister warns of ‘painful’ measure...
by bpodgursky on Sunday May 03, 2020 @08:08PM
(#23062983)
I mean, sure, they've made nominal efforts. I hope they succeed. But the fact is, here's the current breakdown of exports: https://oec.world/en/profile/country/sau/
Re:Saudi stocks slump as minister warns of ‘painful’ measure...
by everybodyknows on Sunday May 03, 2020 @08:25PM
(#23063099)
>current
Data is from 2017. Single largest non-petro export being aluminum, at 0.51%.
From https://saudiembassy.net/agriculture-water -:
Today, Saudi Arabia exports wheat, dates, dairy products, eggs, fish, poultry, fruits, vegetables and flowers to markets around the world. Dates, once a staple of the Saudi diet, are now mainly grown for global humanitarian aid.
...
As a result, there has been a phenomenal growth in the production of all basic foods. Saudi Arabia is now completely self-sufficient in a number of foodstuffs, including meat, milk and eggs.
From https://saudiembassy.net/energy -:
In addition, with the discovery of deposits of precious and semi-precious metals, Saudi Arabia expects to become a major exporter of minerals in the coming decades.
...
Exploration projects over the past two decades have unearthed extensive deposits of precious and industrial minerals throughout the country. These include not only gold and silver, but also copper, tin, tungsten, nickel, chrome, zinc, lead, phosphates, iron ore, bauxite, potassium ore and even table salt.