Economy of Saudi Arabia
Population: 33.70 M (2018)
GDP per Capita: 23,339 USD (2018)
786,520 M.

GDP USD

(2018)

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313,840 M.

EXPORTS USD

(2018)

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209,720 M.

IMPORTS USD

(2018)

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19.10 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.43 % (2018)
GDP of 2010 USD USD 701.60 B. (2018)
GDP Current USD USD 786.52 B. (2018)
GDP per Capita Current USD USD 23,339 (2018)
GDP per capita, PPP USD 49,101 (2018)
GDP per Capita, 2010 USD USD 20,820 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 24.62 % (2018)
Government Spending USD 193.63 B. (2018)
Government Debt % GDP 19.10 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 128.88 (2018)
Trade Openness 66.57 % (2018)
Exports of Goods and Services % GDP 39.90 % (2018)
Exports Goods & Services USD 313.84 B. (2018)
Exports Annual Growth 6.85 % (2018)
Imports as % GDP 26.66 % (2018)
Total Imports USD 209.72 B. (2018)
Foreign Direct Investment % GDP 0.54 % (2018)
Foreign Direct Investment USD 4.25 B. (2018)
Current Account Balance % GDP USD 8.98 % (2018)
Current Account Balance USD 70.61 B. (2018)
Trade Balance % GDP 13.24 % (2018)
Trade Balance USD 104.56 B. (2018)
Foreign Exchange Reserves incl Gold USD 509.47 B. (2018)
Remittances % GDP 0.04 % (2018)
Remittances 0.04 % (2018)
Balance of Payments USD 0 M. (2000)

Labor Market

Indicator Value
Labor Force 14.63 M. (2019)
Unemployment Rate 5.92 % (2019)
Unemployment Rate Females 22.11 % (2019)
Unemployment Rate Males 2.88 % (2019)
Youth Unemployment (ages 15-24) 25.55 % (2019)
Labor Force Participation Rate 56.81 % (2019)
Labor Force (Percent Female) 15.82 % (2019)
Female Labor Force Participation Rate 23.45 % (2019)
Male Labor Force Participation Rate 79.48 % (2019)
Dependent People 39.58 % (2018)

Agriculture Sector

Indicator Value
Forest Area 0.50 % (2016)
Forest Area km² 9,770 km² (2016)
Agricultural Land 80.76 % (2016)
Agricultural Land km² 1,736,190 km² (2016)
Employment 4.82 % (2019)
Value added % GDP 2.22 % (2018)
Agriculture Value added USD 17.50 B. (2018)
Crop Production Index 77.50 (2016)
Precipitation 59 mm (2014)
Arable Land 2 % (2016)
Cereal Yield 5,601 kg/hectare (2017)
Food production index 107 (2016)
Rural Population 16 % (2018)
Fertilizer use of Arable Land 177 kg/hectare (2016)
Livestock Production Index 140 (2016)
Economy of Saudi Arabia

According to the World Bank and its latest published data, the economy of the Saudi Arabia presents a growth rate of 2.43 % (2018) to the previous year.

With a population that reaches 33.70 M (2018) and a gross domestic product of USD 786.52 B. (2018), it translates a Gross Domestic Product per Capita of USD 23,339 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Saudi Arabia also has a workforce of 14.63 M. (2019) with an unemployment rate of 5.92 % (2019), where women represent 22.11 % (2019) and men 2.88 % (2019), the unemployment rate for young people between 15-24 years old stood at 25.55 % (2019). The total number of dependent people stands at 39.58 % (2018).

The central government spent 24.62 % (2018) of its gross domestic product that year, which in absolute terms is USD 193.63 B. (2018). Its consolidated public debt reached 19.10 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Saudi Arabia exported USD 313.84 B. (2018), which represents 39.90 % (2018) of its gross domestic product, in that same sense its imports reached USD 209.72 B. (2018) with a direct foreign investment of USD 4.25 B. (2018).

Saudi Arabia has a forest area of 9,770 km² (2016), which represents 0.50 % (2016) of its total area, an average rainfall of 59 mm (2014) per year and a population of 16 % (2018) living in rural areas. With a total area of 1,736,190 km² (2016) available for agriculture and 4.82 % (2019) of its employments, the agricultural sector contributes to the economy of the Saudi Arabia about USD 17.50 B. (2018) (2.22 % (2018) of its GDP).