GDP 1987-2017 Saudi Arabia vs Iran

[hydrabadi_arab]

https://twitter.com/x/status/869584210302033925

Why Iran failed miserably to keep up? Sanctions?

 

[That Guy]

https://twitter.com/x/status/869584210302033925

Why Iran failed miserably to keep up? Sanctions?

KSA had an oil boom, while sanctions against Iran slowed it's growth. Otherwise, both would have a similar GDP.

 

[hydrabadi_arab]

KSA had an oil boom, while sanctions against Iran slowed it's growth. Otherwise, both would have a similar GDP.

Iran failed to take advantage of huge oil reserves. In few decades world dependence on oil will be all time low. Bad times ahead of for Iran who couldn't uplift it self from 3rd world status unlike GCC countries.

Iran should have backed down to remove sanctions in 80's.

 

[Saif al-Arab]

https://twitter.com/x/status/869584210302033925

Why Iran failed miserably to keep up? Sanctions?

Their GDP was $135 billion back in 1987 and not $278 billion.

Source:

http://data.worldbank.org/?locations=SA-IR

Mostly due to a several times bigger population. Today this difference is not as big as it was in 1987 and KSA's population will outgrow Iran's so we will one day (most likely) have a larger population.

http://data.worldbank.org/?locations=SA-IR

KSA is expected to become the 12th largest economy in the world by 2050 according to many respected economic forecasts.

https://www.pwc.com/gx/en/issues/the-economy/assets/world-in-2050-february-2015.pdf

Expected GDP (nominal) of KSA in 2050 will be $5,488 trillion

Iran will have the 25th largest economy by 2050 and have a GDP (nominal) of $3,224 trillion.

Also KSA has trillions worth of investments abroad (Iran nowhere close), KSA has one of the largest sovereign wealth funds in the world (soon the by far largest) while Iran is nowhere near close.

KSA is one of the largest creditor nations in the world (top 10) while Iran is nowhere close either.

Also the GCC has a GDP (nominal) of almost $2 trillion today and sovereign wealth funds worth $3 trillion. Over 50% of the entire wealth of sovereign wealth funds worldwide is owned by the GCC.

@hydrabadi_arab do you really belong to the Arab community of Hyderabad or have you just chosen a random surname? Just curious. If that is the case kindly create a thread about the Arabs of Hyderabad and Deccan sometime in the future on this thread.

Iran failed to take advantage of huge oil reserves. In few decades world dependence on oil will be all time low. Bad times ahead of for Iran who couldn't uplift it self from 3rd world status unlike GCC countries.

Iran should have backed down to remove sanctions in 80's.

It is silly to even compare the GDP (nominal) per capita of KSA and the combined average of the GCC with that of Iran as of 2017. It is like comparing the GCC with Tajikistan and Afghanistan!

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

Similarly when it comes to HDI index.

https://en.wikipedia.org/wiki/List_of_countries_by_Human_Development_Index

 

[KediKesenFare3]

Iran is poorer due to the sanctions and corruption. But if I recall correctly, Iran is richer in natural resources than Saudi Arabia.

Proven oil reserves
266 millions of barrels - Saudi
157 millions of barrels - Iran

You have to take into account that Saudi Arabia's reserves are better explored. There is no doubt that Iranian reserves are actually much bigger.

On the other hand Iran's natural gas revers are 4 times bigger than Saudi Arabia's.

Iran: 33,600,000,000,000 m³
Saudi: 8,600,000,000,000 m³

Plus, Iran has more precious subsoil resources like valuable minerals than Saudi Arabia. This is also a proven fact.

In a fair world, Iran would be as rich as Saudi Arabia.

 

[aswin]

iran was never concerned about oil economy from the start... they believed in hard work unlike saudis.. which is making them to stand on their own feet..

 

[MultaniGuy]

Saudi Arabia's economy is better than Iran's.

 

[Alithemoor1]

iran was never concerned about oil economy from the start... they believed in hard work unlike saudis.. which is making them to stand on their own feet..

lol Yeah, sure buddy.

 

[925boy]

Saudi Arabia's economy is better than Iran's.

add "Oil" between Arabia's and economy in your sentence and i will agree. Theyhave had good access to western markets and western technology to pump out SO much crude.saudi has money, no doubt about it. But money alone doesnt = power.UAE has money too, prolly more than Iran now,but their power cant match in ME.

 

[hydrabadi_arab]

@hydrabadi_arab do you really belong to the Arab community of Hyderabad or have you just chosen a random surname? Just curious. If that is the case kindly create a thread about the Arabs of Hyderabad and Deccan sometime in the future on this thread.

I'm Pakistani but my ancestors were muhajirs (refugees) from Hyderabad, India and claimed to be decendents of arab body guards and soldiers that were employed by muslim king.

 

[EgyptianAmerican]

add "Oil" between Arabia's and economy in your sentence and i will agree.

Please do some basic research please.

But money alone doesn't = power.

It actually does.

UAE has money too, prolly more than Iran now,but their power cant match in ME.

They actually do match up in power when you count all the allies they have. Then you will realize why Iran tends to step lightly in the Persian gulf.

 

[Big Tank]

Saudi is based on Oil Economy while Iran has been sanctioned since the Islamic Revolution. How can you compare a country's economy which is having so many enemies to a country which has left no tactic to bow to the master murrica?

 

[Cthulhu]

Well obviously sanctions are an important reason of it, but what makes the matter worse is that our Mullahs are ultra conservative isolationists themselves, They think sanctions not only don't harm our economy, but provide us the opportunity to be self-sufficient. The best example of it is our last presidential election in which Ebrahim Raisi, one of the major candidates, saw economic sanctions as an opportunity, Luckily he lost the election.
https://en.wikipedia.org/wiki/Ebrahim_Raisi#Political_positions

 

[Muhammed45]

Well obviously sanctions are an important reason of it, but what makes the matter worse is that our Mullahs are ultra conservative isolationists themselves, They think sanctions not only don't harm our economy, but provide us the opportunity to be self-sufficient. The best example of it is our last presidential election in which Ebrahim Raisi, one of the major candidates, saw economic sanctions as an opportunity, Luckily he lost the election.
https://en.wikipedia.org/wiki/Ebrahim_Raisi#Political_positions

Can you show an oil seller country which stands as a complete strong country? Just an exception Russia, neglect it, cause it holds the legacy of soviets.
Oil on it's own brings corruption and inaction. I hate oil selling
The irony all of EU and other advanced countries even USA with huge oil reserves, are importing oil. Jahangiri and Rouhani the lazy idiots, the oil dealer haram khors, have developed an economy which has no difference from Shah's one. Remember kersent and Zanganeh
@KediKesenFare had a fair quote, read his quote

 

[mike2000 is back]

iran was never concerned about oil economy from the start... they believed in hard work unlike saudis.. which is making them to stand on their own feet..

What's the point when your people still struggle to meet their basic needs despite Iran having the world 3rd largest oil and gas reserves? If any other decent country was this blessed with natural resources they would be having the world highest standards of living rivalling gulf states and even western countries. Their leaders and their policies are to blame. The Saudis and gulf states citizens live a far better life than Iranians or any other muslim country for that matter. So this cheap talk of "they believe in hard work unlike the Saudis" is simply laughable. Lol

add "Oil" between Arabia's and economy in your sentence and i will agree. Theyhave had good access to western markets and western technology to pump out SO much crude.saudi has money, no doubt about it. But money alone doesnt = power.UAE has money too, prolly more than Iran now,but their power cant match in ME.

All if them have huge oil and gas reserves. But at least the Saudis leaders have manage to utilise their resources to improve their people's livelihood far better than the Iranians, Period. Any other talk is just irrelevant IMO.