Successful Journey through Tough Times towards Fair Market Competition

摘要

Kingdom of Saudi Arabia is the largest Arab state in GCC (Gulf Co-operation Council consisting of Saudi Arabia, UAE, Kuwait, Qatar, Oman and Bahrain) by land area approximately 2,150,000 km2 which is 80% of area in GCC. It has a population of 31 million accounts to 60% of GCC. It is the only Gulf state bordering the Red Sea coast and the Arabian Gulf coast. Saudi Arabia is mainly oil-driven economy, the world's second-largest producer and exporter of oil, and is ranked 25thon the list of steel producing countries. The apparent Steel usage (in terms of finished steel) in Saudi Arabia for the year 2017 was 12.9 Million Mt and the domestic crude steel production was 6.3 Million Mt. Imports covered the difference of 51% of consumption, making KSA anet importer of steel products.