Two reasons why trade is essential in Saudi arabia

Answer 1

1. Economic diversification: Saudi Arabia has traditionally relied on oil exports as its main source of revenue. However, trade allows the country to diversify its economy and reduce its dependence on oil. By engaging in trade with other countries, Saudi Arabia can promote the growth of non-oil sectors such as manufacturing, agriculture, and services.

2. Access to essential goods and services: Trade allows Saudi Arabia to access a wide range of goods and services that are not available in the country or are more cost-effective to import. This includes essentials such as food, medicines, technology, and machinery. By engaging in trade, Saudi Arabia can ensure a steady supply of these goods and services to meet the needs of its population.