Name: Saudi Arabia GDP Growth Rate
Creator: TRADING ECONOMICS
License: https://creativecommons.org/licenses/by/4.0/
Keywords: Saudi Arabia,GDP Growth Rate,data,chart,actual,historical,values,calendar,forecast,graph,2023,2024,2025

Saudi Arabia's GDP contracted by 0.6% quarter-on-quarter in the fourth quarter of 2023, following a revised 2.3% decline in the previous three-month period, missing the preliminary estimates of a 0.4% growth. source: General Authority for Statistics, Saudi Arabia

GDP Growth Rate in Saudi Arabia averaged 0.81 percent from 2010 until 2023, reaching an all time high of 5.70 percent in the fourth quarter of 2010 and a record low of -4.90 percent in the second quarter of 2020. This page provides - Saudi Arabia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Saudi Arabia GDP Growth Rate - values, historical data and charts - was last updated on March of 2024.

GDP Growth Rate in Saudi Arabia is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia GDP Growth Rate is projected to trend around 1.00 percent in 2025, according to our econometric models.

3Y 5Y 10Y MAX

2021Q32022Q32023Q3

General Authority for Statistics, Saudi Arabia

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Related	Last	Previous	Unit	Reference
Full Year GDP Growth	-0.80	7.50	percent	Dec 2023
GDP Growth Rate YoY	-4.30	-3.20	percent	Dec 2023
GDP Constant Prices	891377.00	843676.00	SAR Million	Dec 2023
GDP from Agriculture	21015.00	22437.00	SAR Million	Dec 2023
GDP from Construction	46340.00	44778.00	SAR Million	Dec 2023
GDP from Manufacturing	98496.00	100511.00	SAR Million	Dec 2023
GDP from Mining	214655.00	219050.00	SAR Million	Dec 2023
GDP from Transport	51716.00	43378.00	SAR Million	Dec 2023
GDP from Utilities	8562.00	20895.00	SAR Million	Dec 2023
GDP Growth Non Oil Sector	3.81	3.00	percent	Dec 2023
GDP Growth Oil Sector	-16.08	-16.02	percent	Dec 2023
GDP Growth Rate	-0.60	-2.30	percent	Dec 2023
Gross Fixed Capital Formation	282911.00	260559.00	SAR Million	Dec 2023

Saudi Arabia GDP Growth Rate

Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors.