Saudi Arabia


Saudi Arabia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Saudi Arabia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Saudi Arabian Monetary Agency
International Reserves US$ 556.571 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 651.652 billion (2011 estimate)
GDP (Purchasing Power Parity) 733.143 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
0.5% 0.1% 7.7% 5.3% 5.6% 3.2% 2% 4.2%
2009 2010 2011 2012*
0.1% 4.6% 6.8% 6%

*Estimate

GDP per capita - current prices US$ 22,635 (2010 estimate)
GDP per capita - PPP $25,466 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
1.37% 0.94% 0.84% 0.84% 0.89%

**Forecast

GDP - composition by sector
  • agriculture: 2.1% 
  • industry: 67.6% 
  • services: 30.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
5.1%(2008) 5.4% 5% 4.8%

*Estimate

Unemployment rate
2009 2010 2011 2012*
10.5% 10% N/A(2009) N/A

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
13.2% 15.9% 9.9% 7.5% 5.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
34.4% -4.6% 6.6% 15.2% 16.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AA-

Moody's rating: Aa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$318.8 billion US$353.4 billion US$338.9 billion
Largest companies in Saudi Arabia Tasnee (Conglomerates), Saudi Basic Industries (Diversified Chemicals), Petro Rabigh (Diversified Chemicals), Saudi Kayan Petrochemical (Diversified Chemicals), Saudi Arabian Mining (Diversified Metals & Mining), Saudi Electricity (Electric Utilities), Savola Group (Food Processing), Kingdom Holding (Investment services), Samba Financial Group (Major Banks), Al Rajhi Bank (Regional Banks), Riyad Bank (Regional Banks), Saudi British Bank (Regional Banks), Banque Saudi Fransi (Regional Banks), Arab National Bank (Regional Banks), Saudi Arabian Fertilizers (Specialized Chemicals), Saudi Telecom (Telecommunications Services), Mobily (Telecommunications services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 181.9 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP 27.9% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

56.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 2%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.27% (2011)(2007)

(Data were released in 2012)

Total exports US$381.5 billion (2012 estimate) 
Export commodities petroleum and petroleum products 90%
Total imports US$136.8 billion (2012 estimate) 
Import commodities machinery and equipment, foodstuffs, chemicals, motor vehicles, textiles
Exports - major partners Japan 13.9%, China 13.7%, US 13.4%, South Korea 10.2%, India 7.2%, Singapore 4.9% (2011)
Imports - major partners China 12.8%, US 11.9%, Germany 7.1%, South Korea 6%, Japan 5.6%, India 5.3%, Italy 4.1% (2011)
FDI inflows
2009 2010 2011
US$32,100 million US$28,105 million(2009) US$16,400 million(2009)
FDI outflows
2009 2010 2011
US$2,177 million US$3,907 million US$3,442 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$1,442 million US$121 million(2009) US$706 million(2009) US$-17 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 22 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 78 out of 185 countries(2009)

Enforcing Contracts: 124 out of 185 countries

Registering Property: 12 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 19 out of 185 countries

Trading across border: 36 out of 185 countries

Paying Taxes: 3 out of 185 countries

Dealing with Construction Permits: 32 out of 185 countries

Getting Electricity: 12 out of 185 countries

Resolving Insolvency: 107 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
18

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 74 Score: 62.5 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+3
Total area 2,149,690 km2 (2006)
Capital Riyadh (2009)
Currency Saudi riyals (SAR) (2009)
Government type monarchy (2009)
Languages Arabic
Religions Muslim 100%
Total population
1980 1990 2000 2012* 2017**
9.32 million 15.19 million 20.47 million 28.79 million 31.88 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
31.3% 65.9% 79.8% 82.3%
Population median age 26 years (2010)
Population growth rate 2.3% (2011)
Life expectancy 74 years (2010)
Adult literacy 86% (2005/2010)
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

N/A

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:7
Civil Liberties:7 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

207.74% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 47.5% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Riyadh: 135th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

16.1427 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S SAFEST EMERGING MARKETS BANKS

2012:
  • OVERALL SAFEST Samba Financial Group (Global, 2012)
  • OVERALL SAFEST National Commercial Bank (National, 2012)
  • OVERALL SAFEST Al Rajhi Bank (Southeast Asia, 2012)
  • OVERALL SAFEST Riyad Bank (National, 2012)
  • OVERALL SAFEST Banque Saudi Fransi (National, 2012)
  • OVERALL SAFEST SABB (National, 2012)
  • OVERALL SAFEST Arab National Bank (National, 2012)
  • OVERALL SAFEST Saudi Hollandi Bank (Asia, 2012)
  • OVERALL SAFEST Saudi Investment Bank (Asia, 2012)
  • REGIONAL WINNERS SAMBA Financial Group (Asia, 2012)
  • REGIONAL WINNERS National Commercial Bank (Global, 2012)
  • REGIONAL WINNERS Al Rajhi Bank (Global, 2012)
  • REGIONAL WINNERS Riyad Bank (Global, 2012)
  • REGIONAL WINNERS Banque Saudi Fransi (National, 2012)
  • REGIONAL WINNERS SAAB (Global, 2012)
  • REGIONAL WINNERS Arab National Bank (Global, 2012)

WORLD'S BEST TREASURY & CASH MANAGEMENT BANKS & PROVIDERS

2009:
  • Best Bank for Risk Management SAMBA (Middle East, 2009)

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS SABB (National, 2013)
2012:
  • COUNTRY WINNERS SABB (Heng Swee Keat, 2012)
2011:
  • COUNTRY WINNERS SABB (Middle East, 2011)
2010:
  • COUNTRY WINNERS SABB (Middle East and Africa, 2010)
2009:
  • COUNTRY WINNERS SABB (Global, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks SABB (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Online Cash Management SAMBA (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Trade Finance Services SAMBA (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site SAMBA (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Information Security Initiatives SAMBA (National, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Online Treasury Services Alinma Bank (Asia, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Samba Financial Group (Asia, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design SABB (Asia, 2012)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Samba Financial Group (Global, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Samba Financial Group (Global, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks SABB (Global, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Samba Financial Group (Global, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Information Security Initiatives Samba Financial Group (Global, 2011)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site Samba Financial Group (Global, 2011)
2010:
  • REGIONAL WINNERS / Best Consumer Internet Banks Samba Financial Group (Global, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Investment Management Services Falcom Financial Services (Global, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Web Site Design Samba Financial Group (Global, 2010)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Samba Financial Group (Global, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Samba Financial Group (National, 2010)
  • COUNTRY WINNERS / Best Consumer Internet Banks Samba Financial Group (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks The Saudi British Bank (National, 2010)
2009:
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Online Consumer Credit Site The Saudi British Bank (SABB) (Global, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Consumer Internet Banks / Best Integrated Consumer Bank Site Samba Financial Group (Global, 2009)
  • REGIONAL SUB-CATEGORY WINNERS / Best Corporate / Institutional Internet Banks / Best Integrated Corporate Bank Site Samba Financial Group (Global, 2009)
  • COUNTRY WINNERS / Best Consumer Internet Banks The Saudi British Bank (SABB) (Global, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Samba Financial Group (Global, 2009)

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:
  • OVERALL WINNERS / Best Islamic Investment Bank Samba (Southeast Asia, 2012)
  • OVERALL WINNERS / Best Islamic Project Finance Provider SABB (2012)
  • OVERALL WINNERS / Best Islamic Commodities Provider International Islamic Trade Finance Corporation (Global, 2012)
  • OVERALL WINNERS / Best Islamic Fund Manager Falcom Financial Services (Global, 2012)
  • COUNTRY WINNERS Al Rajhi Bank (Global, 2012)
2011:
  • OVERALL WINNERS / Best Islamic Investment Bank Jadwa Investment (National, 2011)
  • OVERALL WINNERS / Best Islamic Project Finance Provider SABB (National, 2011)
  • OVERALL WINNERS / Best Islamic Commodities Provider Al Rajhi Bank (National, 2011)
  • OVERALL WINNERS / Best Islamic Fund Manager Falcom Asset Management (National, 2011)
  • OVERALL WINNERS / Islamic Finance Deal of the Year Maaden Aluminum (National, 2011)
  • COUNTRY WINNERS Falcom (National, 2011)
2010:
  • OVERALL WINNERS / Best Islamic Fund Manager Falcom (Global, 2010)
  • OVERALL WINNERS / Best Islamic Fund Manager Samba Financial Group (Global, 2010)
  • COUNTRY WINNERS Falcom (Middle East and Africa, 2010)
2009:
  • Best Islamic Retail Bank Al Rajhi Bank (Middle East, 2009)
  • Best Islamic Investment Bank Falcom (Middle East, 2009)
  • COUNTRY WINNERS Al Rajhi Bank (Global, 2009)

WORLD'S SAFEST BANKS

2013:
  • OVERALL SAFEST Samba Financial Group (Global, 2013)
  • REGIONAL WINNERS SAMBA Financial Group (Middle East/Africa, 2013)
  • REGIONAL WINNERS National Commercial Bank (Middle East/Africa, 2013)
  • REGIONAL WINNERS Al Rajhi Bank (Middle East/Africa, 2013)
  • REGIONAL WINNERS Riyad Bank (Middle East/Africa, 2013)
  • REGIONAL WINNERS Banque Saudi Fransi (Middle East/Africa, 2013)
2012:
  • OVERALL SAFEST Samba Financial Group (National, 2012)
  • REGIONAL WINNERS Samba Financial Group (2012)
  • REGIONAL WINNERS National Commercial bank (National, 2012)
  • REGIONAL WINNERS Al Rajhi Bank (National, 2012)
  • REGIONAL WINNERS Riyad Bank (National, 2012)
  • REGIONAL WINNERS Banque Saudi Fransi (National, 2012)
  • REGIONAL WINNERS SABB (National, 2012)
2011:
  • REGIONAL WINNERS SAMBA Financial Group (Middle East, 2011)
  • REGIONAL WINNERS National Commercial Bank (Middle East, 2011)
  • REGIONAL WINNERS Al Rajhi Bank (Middle East, 2011)
  • REGIONAL WINNERS Riyad Bank (National, 2011)
  • REGIONAL WINNERS Saudi British Bank (National, 2011)
  • REGIONAL WINNERS Banque Saudi Fransi (National, 2011)
  • OVERALL SAFEST Samba Financial Group (National, 2011)
  • OVERALL SAFEST National Commercial Bank (National, 2011)
  • OVERALL SAFEST Al Rajhi Bank (National, 2011)
  • OVERALL SAFEST Riyad Bank (National, 2011)
  • OVERALL SAFEST SABB (National, 2011)
  • OVERALL SAFEST Banque Saudi Fransi (National, 2011)
  • OVERALL SAFEST Arab National Bank (2011)
  • OVERALL SAFEST Saudi Hollandi Bank (National, 2011)
  • OVERALL SAFEST Saudi Investment Bank (National, 2011)
2010:
  • REGIONAL WINNERS Samba Financial Group (National, 2010)
  • REGIONAL WINNERS National Commercial Bank (Middle East and Africa, 2010)
  • REGIONAL WINNERS Riyad Bank (Middle East and Africa, 2010)
  • REGIONAL WINNERS Al Rajhi Bank (Fahad Al-Mubarak, 2010)
  • REGIONAL WINNERS Saudi British Bank (Global, 2010)
  • REGIONAL WINNERS Banque Saudi Fransi (Global, 2010)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Samba Financial Group (National, 2012)
2011:
  • COUNTRY WINNERS Samba Financial Group (National, 2011)
2010:
  • COUNTRY WINNERS Arabia Samba Financial Group (National, 2010)
2009:
  • COUNTRY WINNERS Samba Financial Group (Global, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS SABB (Heng Swee Keat, 2012)
2011:
  • COUNTRY WINNERS SABB (Middle East, 2011)
2010:
  • COUNTRY WINNERS SABB (Middle East and Africa, 2010)
2009:
  • COUNTRY WINNERS SABB (Asia, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • REGIONAL WINNERS/Best Investment Bank Samba Capital (Middle East, 2013)
  • REGIONAL WINNERS/Best Equity Bank Banque Saudi Fransi (Middle East, 2013)
  • COUNTRY WINNERS Samba Capital (National, 2013)
  • COUNTRY WINNERS Samba Capital (National, 2013)
2012:
  • Best Investment Bank Samba Capital (National, 2012)
  • COUNTRY WINNERS Samba Capital (National, 2012)
2011:
  • Best Investment Bank Samba Capital (Middle East, 2011)
  • Best Equity Bank Samba Capital (Middle East, 2011)
  • COUNTRY WINNERS Samba Capital (Asia, 2011)
2010:
  • Best Investment Bank Samba Capital (Middle East, 2010)
  • Best Equity Bank Samba Capital (Middle East, 2010)
  • COUNTRY WINNERS Samba Capital (Middle East and Africa, 2010)
2009:
  • Best Investment Bank Bank Samba (Global, 2009)
  • Best Equity Bank Bank Samba (Middle East, 2009)
  • COUNTRY WINNERS Samba (Global, 2009)

CENTRAL BANKER REPORT CARD

2012:
2011:
2010:
2009:

WORLD'S BIGGEST BANKS

2011:
  • OVERALL BIGGEST National Commercial Bank (National, 2011)
2010:
  • BIGGEST BANK IN MIDDLE EAST The National Commercial Bank (National, 2010)
  • BIGGEST BANK IN MIDDLE EAST Samba Financial Group (National, 2010)
  • BIGGEST BANK IN MIDDLE EAST Riyad Bank (Middle East, 2010)
  • BIGGEST BANK IN MIDDLE EAST Al Rajhi Banking and Investment Corp (National, 2010)

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST The National Commercial Bank (Global, 2010)
  • OVERALL BIGGEST Samba Financial Group (National, 2010)
  • OVERALL BIGGEST Riyad Bank (Global, 2010)
  • OVERALL BIGGEST Al Rajhi Banking and Investment Corp (Middle East, 2010)
  • OVERALL BIGGEST The Saudi British Bank (Middle East, 2010)
  • OVERALL BIGGEST Banque Saudi Fransi (Middle East, 2010)
  • OVERALL BIGGEST Arab National Bank (Middle East, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Samba Financial Group (Global, 2013)
2012:
  • COUNTRY WINNERS Samba Financial Group (Asia Pacific and Middle East, 2012)
2011:
  • COUNTRY WINNERS Samba Financial Group (Global, 2011)
2010:
  • COUNTRY WINNERS Samba Financial Group (Middle East and Africa, 2010)
2009:
  • COUNTRY WINNERS Samba Financial Group (Global, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE