The Gross Domestic Product (GDP) in Saudi Arabia expanded 1.20 percent in the third quarter of 2020 over the previous quarter. source: OECD

GDP Growth Rate in Saudi Arabia averaged 0.69 percent from 2010 until 2020, reaching an all time high of 8.40 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 December of 2020.

GDP Growth Rate in Saudi Arabia is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Saudi Arabia to stand at 0.50 in 12 months time. In the long-term, the Saudi Arabia GDP Growth Rate is projected to trend around 1.00 percent in 2021, according to our econometric models.

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Saudi Arabia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.80 -5.20 8.40 -5.20 2010 - 2020 percent Quarterly

Saudi Arabia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.80 -5.20 8.40 -5.20 percent [+]
GDP Annual Growth Rate -4.60 -7.00 24.20 -20.70 percent [+]
GDP 792.97 786.52 792.97 4.19 USD Billion [+]
GDP Constant Prices 621425.00 597838.00 1925394.03 476504.51 SAR Million [+]
Gross Fixed Capital Formation 140587.00 137393.00 199621.00 101572.00 SAR Million [+]
GDP per capita 20542.20 20819.70 39152.10 14252.60 USD [+]
GDP per capita PPP 46962.10 48995.60 50467.00 39376.30 USD [+]
GDP From Agriculture 15595.00 14637.00 16228.00 10354.00 SAR Million [+]
GDP From Construction 30163.00 27204.00 31972.00 21969.00 SAR Million [+]
GDP From Manufacturing 70125.00 67370.00 80907.00 53468.00 SAR Million [+]
GDP From Mining 231074.00 237620.00 268793.00 189221.00 SAR Million [+]
GDP From Transport 37101.00 33329.00 43371.00 24028.00 SAR Million [+]
GDP From Utilities 14389.00 8562.00 15218.00 3141.00 SAR Million [+]


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.