The Gross Domestic Product (GDP) in Saudi Arabia expanded 0.60 percent in the second quarter of 2021 over the previous quarter, less than the preliminary estimates of an 1.1 percent growth.. source: Central Department Of Statistics & Information

GDP Growth Rate in Saudi Arabia averaged 0.70 percent from 2010 until 2021, reaching an all time high of 8.40 percent in the fourth quarter of 2010 and a record low of -5.50 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 October of 2021.

GDP Growth Rate in Saudi Arabia is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia GDP Growth Rate is projected to trend around 1.00 percent in 2022, according to our econometric models.

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Saudi Arabia GDP Growth Rate

Saudi Arabia Last Unit Reference Previous Highest Lowest
GDP Growth Rate 0.60 percent Jun/21 -0.50 8.40 -5.50
GDP Annual Growth Rate 1.80 percent Jun/21 -3.00 24.20 -20.70
GDP Constant Prices 608791.00 SAR Million Jun/21 634593.00 1925394.03 476504.51
Gross Fixed Capital Formation 181917.00 SAR Million Jun/21 177330.00 199621.00 101572.00

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.