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Indicators of economy in Saudi Arabia

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.912 US Dollar per capita. In contrast, the GDP in Saudi Arabia reached 20.110 US dollars per inhabitant, or 700.12 bn US Dollar in the whole country. Saudi Arabia is therefore currently ranked 20 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Saudi Arabia is in the list of the world's richest countries in place 25.

Inflation in Saudi Arabia was in 2021 at around 3.06%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 55.5% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Saudi Arabia

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic in 2020 were considerable in Saudi Arabia. Overall, gross domestic product in 2020 fell from 792.97 billion US Dollar auf 700.12 billion US Dollar. With a large drop of 11.71 percent, the economy in Saudi Arabia has struggled significantly more than other countries. The tourism sector alone slumped by around 70 percent. The unemployment rate rose from 5.7 to 7.4 percent. The consumer inflation rate has risen from -2.1% previously to 3.4% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Saudi Arabia
Total
Saudi Arabia
per capita
EU
Total
EU
per capita
GDP700.12 bn USD20,110.32 USD15,291.93 tn USD29,710.69 USD
Gross national product763.64 bn USD21,934.97 USD15,330.84 tn USD29,786.28 USD


Saudi Arabia ranked 53rd in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 13 of the 2000 largest listed companies in the world originate from Saudi Arabia. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:

Rank 5: Saudi Arabian Oil Company (Saudi Aramco) (Dhahran)
Rank 304: Saudi Telecom (Riyadh)
Rank 320: The Saudi National Bank (Jeddah)
Rank 380: Al Rajhi Bank (Riyadh)
Rank 414: Saudi Electricity (Riyadh)
Rank 481: Saudi Basic Industries (Riyadh)
Rank 706: Riyad Bank (Riyadh)
Rank 1273: Saudi British Bank (Riyadh)
Rank 1301: Banque Saudi Fransi (Riyadh)
Rank 1369: Alinma Bank (Riyadh)

Development of the Gross domestic product in billion US Dollar 1970 - 2020



Im- and Exports 2020

 Saudi Arabia
Total
Saudi Arabia
per capita
EU
Total
EU
per capita
Imports182.13 bn USD5,231.47 USD7,340.01 bn USD14,260.90 USD
Exports184.16 bn USD5,289.91 USD7,939.04 bn USD15,424.75 USD


Development of imports and exports in billion US dollars 1971 - 2020

Exports
Imports



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