The role of economic diversification in increasing the volume of foreign trade - the Kingdom of Saudi Arabia and the Republic of Georgia: as model

Abstract

Abstract

The research focused on studying the issue of economic diversification, as it is one of the most prominent issues facing the economies of developing and rentier countries that suffer from structural imbalances for reasons that may be internal or external, The research deals with theoretical economic diversification on the one hand, and on the other hand the research deals with analyzing the volume and structure of international trade for both the Kingdom of Saudi Arabia and the Republic of Georgia, These countries have been interested in diversifying their economies by developing other economic sectors (industrial, agricultural and service sectors). Therefore, appropriate economic policies must be adopted to increase the contribution of other sectors to the GDP, As well as working to establish an advanced economic base to diversify sources of income, and the role of economic diversification has emerged in increasing the volume of foreign trade of the countries in question through diversification in the structure of exports and foreign commodity imports as well as increasing the volume and rate of growth in their foreign trade.