Saudi Arabia recorded a Current Account surplus of 6.30 percent of the country's Gross Domestic Product in 2019. source: Saudi Arabia Monetary Agency

Current Account to GDP in Saudi Arabia averaged 3.98 percent from 1980 until 2019, reaching an all time high of 28.50 percent in 2005 and a record low of -21 percent in 1991. This page provides - Saudi Arabia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Saudi Arabia Current Account to GDP - values, historical data and charts - was last updated on December of 2020.

Current Account to GDP in Saudi Arabia is expected to reach -2.50 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia Current Account to GDP is projected to trend around 1.00 percent in 2021 and 2.00 percent in 2022, according to our econometric models.

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Saudi Arabia Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
6.30 9.00 28.50 -21.00 1980 - 2019 percent Yearly

Saudi Arabia Trade Last Previous Highest Lowest Unit
Balance of Trade 10258.00 84347.00 454159.00 3898.00 Million SAR [+]
Current Account 2321.00 -18247.00 90060.70 -27509.30 USD Million [+]
Current Account to GDP 6.30 9.00 28.50 -21.00 percent [+]
Imports 106861.00 113509.00 222985.00 2578.00 Million SAR [+]
Exports 117120.00 197856.00 677144.00 9118.00 Million SAR [+]
Capital Flows -17912.11 1070.58 102296.29 -49295.00 USD Million [+]
Tourism Revenues 19849.00 16975.00 19849.00 3418.00 USD Million [+]
Gold Reserves 323.07 323.07 323.07 142.95 Tonnes [+]
Crude Oil Production 8972.00 8974.00 12007.00 2340.00 BBL/D/1K [+]
Foreign Direct Investment 1034.00 913.00 11746.54 264.00 USD Million [+]
Remittances 28998.00 29832.00 38101.00 12479.00 SAR Million [+]
Tourist Arrivals 16214.00 17570.00 23010.00 6585.00 Thousand [+]
Terrorism Index 5.00 5.24 5.81 2.41 [+]
Non Oil Exports 41982.00 55329.57 60357.00 19786.00 Million SAR [+]
Oil Exports 74775.00 199800.40 338945.00 74775.00 Million SAR [+]


Saudi Arabia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.