REFINING THE MIX IN SAUDI ARABIA
Country Report | Saudi Arabia
Saudi Arabia’s budget deficit is ballooning, but a ministerial reshuffle has fueled hopes the kingdom is resolute in kicking its hydrocarbon addiction.
Saudi Arabia GDP and Economic Data
Includes Saudi Arabia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Saudi Arabia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Saudi Arabia best banks and safest banks are also available.
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International Reserves
USD 496.6 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 782.5 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 1,857.5 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 1.8% | 6.3% | -2.1% | 5% | 10% | 5.4% | 2.7% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 3.7% | 4.1% | 1.7% | -0.7% | 2.2% |
*Estimate
GDP per capita - current prices
USD 23,566.4 (2018, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 2.01% | 1.44% | 1.27% | 1.41% | 1.4% |
*Estimate
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GDP - composition by sector
- agriculture: 2.2%
- industry: 49.7%
- services: 48.2%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 1.3% | 2% | -0.9% | 2.5% | -1.1% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019 |
| 5.6% | 5.6% | 6% | 6% | N/A |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 5.8% | 13.1% | 17.2% | 19% | 23.2% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -15.8% | -17.2% | -9.2% | -5.9% | -6.1% |
*Estimate
Government bond ratings
Standard & Poor's: A-
Moody's: A1
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 448.8 billion | USD 451.4 billion | USD 496.4 billion |
Largest companies
Petro Rabigh, Saudi Arabian Fertilizers, Saudi Basic Industries, Saudi Telecom, National Commercial Bank, Al Rajhi Bank, Saudi Electricity, Samba Financial Group, Riyad Bank, Saudi British Bank, Banque Saudi Fransi, Arab National Bank, Alinma Bank, Saudi Arabian Mining, Almarai
Source
Source
Current account balance by percentage of GDP
-10.9 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
N/A
Shares in world total merchandising export
0.0001% (2018)
Shares in world total commercial services export
0.001% (2018)
Export commodities
Cocoa 68%, copra, coffee, palm oil (2010 est.)
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Import commodities
Machinery and electrical equipment, food products, petroleum products
Exports - major partners
Guyana 43.7%, Germany 23.6%, Portugal 6%, Netherlands 5.5%, Poland 4.4% (2017)
Imports - major partners
Portugal 54.7%, Angola 16.5%, China 5.6% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 22 million | USD 41 million | USD 17 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 1.0 million | USD 0.3 million | USD 2.1 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A |
N/A |
N/A |
N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
170 out of 190 countries
Subcategories:
Starting a Business: 150 out of 190 countries
Dealing with Construction Permits: 111 out of 190 countries
Getting Electricity: 130 out of 190 countries
Registering Property: 172 out of 190 countries
Getting Credit: 165 out of 190 countries
Protecting Minority Investors: 179 out of 190 countries
Paying Taxes: 137 out of 190 countries
Trading across Borders: 124 out of 190 countries
Enforcing Contracts: 185 out of 190 countries
Resolving Insolvency: 168 out of 190 countries
Source
Index of Economic Freedom
Ranking: 134 / Score: 54 (Mostly unfree)
(100=totally free 0=totally repressed)
Source
Source
Religions
Muslim (official; citizens are 85-90% Sunni and 10-15% Shia), other (includes Eastern Orthodox, Protestant, Roman Catholic, Jewish, Hindu, Buddhist, and Sikh) (2012 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 15.19 million | 20.47 million | 27.56 million | 31.06 million | 34.76 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 31.3% | 65.9% | 79.8% | 83.8% |
Literacy
Total population: 94.7%
Male: 97%
Female: 91.1%
Definition: age 15 and over can read and write (2015 est.)
Freedom House rating
Not Free
Political Rights: 7
Civil Liberties: 7 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 16% Mobile: 122.6% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)