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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 2021 was at about 12.259 USD per capita. GDP in Saudi Arabia, on the other hand, reached USD 23.586 per capita, or 833.54 billion USD in the whole country. Saudi Arabia is therefore one of the world's largest economies and is currently at rank 18. 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 24.
Inflation in Saudi Arabia was in 2021 at around 3.06%. Within the EU, the average in the same year was 2.55%. 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

The consequences of the Covid pandemic in 2020 were considerable in Saudi Arabia. Overall, gross domestic product in 2020 fell from 803.62 billion US Dollar auf 703.37 billion US Dollar. With a large drop of 12.47 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 2021

 Saudi Arabia
Total
Saudi Arabia
per capita
EU
Total
EU
per capita
GDP833.54 bn USD23,585.89 USD17.09 tn USD33,228.68 USD
Gross national product775.46 bn USD21,942.49 USD16.78 tn USD32,621.03 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. 16 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 2022:
Rank 3: Saudi Arabian Oil Company (Saudi Aramco) (Dhahran)
Rank 327: The Saudi National Bank (Riyadh)
Rank 329: Saudi Electricity (Riyadh)
Rank 380: Al Rajhi Bank (Riyadh)
Rank 402: Saudi Telecom (Riyadh)
Rank 683: Riyad Bank (Riyadh)
Rank 738: Saudi Arabian Mining (Riyadh)
Rank 868: Saudi British Bank (Riyadh)
Rank 971: Banque Saudi Fransi (Riyadh)
Rank 1057: Alinma Bank (Riyadh)

Development of the Gross domestic product in billion US Dollar 1970 - 2021



Im- and Exports 2021

 Saudi Arabia
Total
Saudi Arabia
per capita
EU
Total
EU
per capita
Imports213.02 bn USD6,027.50 USD8,916.24 bn USD17,337.55 USD
Exports286.50 bn USD8,106.85 USD9,554.34 bn USD18,578.33 USD

Development of imports and exports in billions of USD 1971 - 2021
Exports
Imports

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