Countries
Saudi Arabia
Key Economic Indicators
$2.52 trillion
$71,375
2%
1.69%
3.04%
$1.238 trillion (2024 est.)
13.1% of GDP (2016 est.)
$-16,254,059,643
Economic Overview
<p>high-income, oil-based Middle Eastern economy; OPEC founding member; Vision 2030 strategy prioritizing economic diversification, increased private sector involvement, and projects funded by sovereign wealth fund and foreign investment; young labor force; falling but significant poverty rate despite lack of official statistics</p>
All Economic Data
Agricultural products
milk, dates, chicken, wheat, tomatoes, watermelons, potatoes, olives, eggs, onions (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
0.7% of household expenditures (2023 est.)
On food:
20.5% of household expenditures (2023 est.)
Budget
Expenditures:
$388.489 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$378.413 billion (2023 est.)
Currency
code:
SAR
name:
Saudi riyal (SAR) [ر.س]
Current account balance
$-16,254,059,643
Current account balance 2022:
$150.353 billion (2022 est.)
Current account balance 2023:
$35.133 billion (2023 est.)
Current account balance 2024:
-$5.685 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Exchange rates
Currency:
Saudi riyals (SAR) per US dollar -
Exchange rates 2020:
3.75 (2020 est.)
Exchange rates 2021:
3.75 (2021 est.)
Exchange rates 2022:
3.75 (2022 est.)
Exchange rates 2023:
3.75 (2023 est.)
Exchange rates 2024:
3.75 (2024 est.)
Exports
$360.9 billion
Exports 2022:
$445.881 billion (2022 est.)
Exports 2023:
$368.731 billion (2023 est.)
Exports 2024:
$360.897 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
crude petroleum, refined petroleum, plastics, alcohols, ships (2023)
note:
<strong>note:</strong> top five export commodities based on value in dollars
Exports - partners
China 21%, India 12%, Japan 12%, USA 6%, UAE 4% (2023)
note:
<strong>note:</strong> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$21.34 billion
GDP - composition, by end use
Exports of goods and services:
29.2% (2024 est.)
Government consumption:
21.4% (2024 est.)
Household consumption:
45% (2024 est.)
Imports of goods and services:
-25.6% (2024 est.)
Investment in fixed capital:
28.7% (2024 est.)
Investment in inventories:
1.4% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
2.5% (2024 est.)
Industry:
44.8% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
47.2% (2024 est.)
GDP (official exchange rate)
$1.238 trillion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$35,122
GNI (gross national income)
$1.25 trillion
GNI per capita
$35,630
Gross domestic investment
30 % of GDP
Imports
$317.01 billion
Imports 2022:
$258.371 billion (2022 est.)
Imports 2023:
$289.91 billion (2023 est.)
Imports 2024:
$317.012 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
cars, refined petroleum, gold, broadcasting equipment, packaged medicine (2023)
note:
<strong>note:</strong> top five import commodities based on value in dollars
Imports - partners
China 21%, UAE 8%, USA 7%, India 6%, Germany 5% (2023)
note:
<strong>note:</strong> top five import partners based on percentage share of imports
Industrial production growth rate
-1.3% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial aircraft repair, construction
Inflation rate (consumer prices)
1.69%
Inflation rate (consumer prices) 2022:
2.5% (2022 est.)
Inflation rate (consumer prices) 2023:
2.3% (2023 est.)
Inflation rate (consumer prices) 2024:
1.7% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
17.168 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
17.86 million persons
Labor force - by occupation
agriculture:
2.5%
industry:
23.07%
services:
74.43%
Public debt
Public debt 2016:
13.1% of GDP (2016 est.)
Real GDP (purchasing power parity)
$2.52 trillion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$2.161 trillion (2022 est.)
Real GDP (purchasing power parity) 2023:
$2.173 trillion (2023 est.)
Real GDP (purchasing power parity) 2024:
$2.213 trillion (2024 est.)
Real GDP growth rate
2%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
12% (2022 est.)
Real GDP growth rate 2023:
0.5% (2023 est.)
Real GDP growth rate 2024:
1.8% (2024 est.)
Real GDP per capita
$71,375
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$67,200 (2022 est.)
Real GDP per capita 2023:
$64,500 (2023 est.)
Real GDP per capita 2024:
$62,700 (2024 est.)
Remittances
$338.47 million
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
0% of GDP (2022 est.)
Remittances 2023:
0% of GDP (2023 est.)
Remittances 2024:
0% of GDP (2024 est.)
Reserves of foreign exchange and gold
$463.87 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$478.232 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$457.949 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$463.87 billion (2024 est.)
Revenue (excl grants)
27 % of GDP
Tax revenue
8 % of GDP
Taxes and other revenues
7.8% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
3.04%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
5.6% (2022 est.)
Unemployment rate 2023:
4.1% (2023 est.)
Unemployment rate 2024:
3.9% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
23.8% (2024 est.)
Male:
9.8% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
13.8% (2024 est.)
World Bank Indicators
Currency
Saudi riyal (SAR) . (2025)
Languages
Arabic (2025)
Economic Rankings
Reserves
#7
GDP Growth Rate
#12
GDP (PPP)
#17
GDP (Nominal)
#18
Exports
#22
GDP per Capita
#23
Imports
#26
Unemployment Rate
#91
Inflation Rate
#192
Quick Facts
Industries
crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial air
Agricultural products
milk, dates, chicken, wheat, tomatoes, watermelons, potatoes, olives, eggs, onions (2023)
Labor force
17.168 million (2024 est.)
Exports - partners
China 21%, India 12%, Japan 12%, USA 6%, UAE 4% (2023)
Imports - partners
China 21%, UAE 8%, USA 7%, India 6%, Germany 5% (2023)
Exchange rates
Saudi riyals (SAR) per US dollar -
Explore More
Our Partners
Trusted partner applications powering global data and insights