Saudi Arabia ranked 18/197 by economy size with a GDP of $1.24T and 32/197 by GDP per capita at $35,057. Saudi Arabia has $370B in government debt, with a debt-to-GDP ratio of 34.8%.
In 2025, Saudi Arabia made up 1.11% of the world's economy, compared to 0.13% in 1960.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1960 | $1,748,124,064 | $39,062,138,603 | - |
| 1961 | $1,920,811,284 | $43,701,490,633 | 9.88% |
| 1962 | $2,130,606,532 | $48,911,870,587 | 10.9% |
| 1963 | $2,207,393,172 | $53,165,300,282 | 3.6% |
| 1964 | $2,371,808,713 | $57,831,504,044 | 7.45% |
| 1965 | $2,647,955,558 | $64,850,377,194 | 11.6% |
| 1966 | $2,920,555,557 | $70,155,880,866 | 10.3% |
| 1967 | $3,257,022,223 | $76,406,337,222 | 11.5% |
| 1968 | $4,187,777,711 | $82,259,159,326 | 28.6% |
| 1969 | $4,485,777,644 | $87,225,874,037 | 7.12% |
| 1970 | $5,377,333,333 | $133,099,787,877 | 19.9% |
| 1971 | $7,184,806,909 | $153,369,697,078 | 33.6% |
| 1972 | $9,664,267,087 | $182,180,374,833 | 34.5% |
| 1973 | $14,947,435,499 | $223,162,035,358 | 54.7% |
| 1974 | $45,412,957,746 | $259,090,398,370 | 203.8% |
| 1975 | $46,773,208,643 | $244,871,098,281 | 3% |
| 1976 | $64,005,665,722 | $282,149,187,832 | 36.8% |
| 1977 | $74,188,986,586 | $298,771,678,010 | 15.9% |
| 1978 | $80,266,516,687 | $299,286,687,828 | 8.19% |
| 1979 | $111,858,444,786 | $332,100,224,569 | 39.4% |
| 1980 | $164,539,660,725 | $351,354,104,855 | 47.1% |
| 1981 | $184,291,360,139 | $361,834,100,908 | 12% |
| 1982 | $153,240,313,858 | $303,545,917,341 | -16.8% |
| 1983 | $129,171,635,311 | $270,175,776,743 | -15.7% |
| 1984 | $119,624,858,116 | $259,348,470,470 | -7.39% |
| 1985 | $103,897,846,494 | $240,644,765,872 | -13.1% |
| 1986 | $86,961,922,765 | $243,070,832,682 | -16.3% |
| 1987 | $85,695,861,148 | $235,455,342,414 | -1.46% |
| 1988 | $88,256,074,766 | $250,996,198,535 | 2.99% |
| 1989 | $95,344,459,279 | $252,038,318,255 | 8.03% |
| 1990 | $117,630,173,565 | $275,795,698,496 | 23.4% |
| 1991 | $132,223,230,975 | $298,468,230,595 | 12.4% |
| 1992 | $137,087,850,467 | $312,139,812,825 | 3.68% |
| 1993 | $132,967,957,276 | $313,325,431,978 | -3.01% |
| 1994 | $135,174,899,866 | $316,311,316,730 | 1.66% |
| 1995 | $143,343,124,166 | $317,297,284,499 | 6.04% |
| 1996 | $158,662,483,311 | $327,782,952,467 | 10.7% |
| 1997 | $165,963,684,913 | $336,460,414,156 | 4.6% |
| 1998 | $146,775,466,667 | $345,894,131,085 | -11.6% |
| 1999 | $161,717,066,667 | $343,703,259,654 | 10.2% |
| 2000 | $189,514,933,333 | $359,919,640,768 | 17.2% |
| 2001 | $184,137,600,000 | $361,159,899,362 | -2.84% |
| 2002 | $189,605,866,667 | $358,673,710,260 | 2.97% |
| 2003 | $215,807,733,333 | $390,124,853,186 | 13.8% |
| 2004 | $258,742,133,333 | $423,796,550,560 | 19.9% |
| 2005 | $328,459,608,764 | $448,990,815,757 | 26.9% |
| 2006 | $376,900,133,511 | $463,868,057,905 | 14.7% |
| 2007 | $415,964,509,673 | $474,136,491,555 | 10.4% |
| 2008 | $519,796,800,000 | $503,713,066,804 | 25% |
| 2009 | $429,097,866,667 | $498,339,873,323 | -17.4% |
| 2010 | $528,207,466,667 | $523,453,786,401 | 23.1% |
| 2011 | $680,660,800,000 | $585,005,967,585 | 28.9% |
| 2012 | $751,921,333,333 | $618,711,129,254 | 10.5% |
| 2013 | $769,755,733,333 | $636,936,502,413 | 2.37% |
| 2014 | $787,153,066,667 | $662,570,908,160 | 2.26% |
| 2015 | $693,414,400,000 | $693,414,400,000 | -11.9% |
| 2016 | $689,279,466,667 | $705,230,699,063 | -0.6% |
| 2017 | $741,266,133,333 | $713,567,089,639 | 7.54% |
| 2018 | $886,564,800,000 | $736,593,549,190 | 19.6% |
| 2019 | $888,890,133,333 | $748,758,860,046 | 0.26% |
| 2020 | $767,951,200,000 | $720,270,347,023 | -13.6% |
| 2021 | $982,661,066,667 | $767,229,070,839 | 28% |
| 2022 | $1,239,075,200,000 | $859,301,066,621 | 26.1% |
| 2023 | $1,218,584,533,333 | $863,963,569,240 | -1.65% |
| 2024 | $1,237,529,866,667 | $879,583,643,097 | 1.55% |
Economic Statistics of Saudi Arabia
Saudi Arabia
|
Rank | |
|---|---|---|
| Gross domestic product |
$1.24T
2024 |
18/197 |
| GDP growth |
1.55%
2023-2024 |
167/196 |
| GDP per capita |
$35,057
2024 |
32/197 |
| GDP per capita, PPP |
$71,243
2024 |
22/197 |
| Government debt |
$370B
2024 |
25/185 |
| Debt-to-GDP ratio |
34.8%
2025 |
149/185 |
| Government debt per person |
$10,473
2024 |
58/185 |
| Average annual personal income after taxes |
$25,072
2025 |
31/197 |
| Listed domestic companies |
352
2024 |
23/103 |
| Market capitalization of domestic companies |
$2.73T
2024 |
7/100 |
| Number of millionaires |
351,855
2024 |
20/34 |
| Millionaire frequency |
1 in 69
2024 |
21/34 |
| Number of billionaires |
15
2025 |
28/78 |
| Billionaire frequency |
1 in 1,624,038
2025 |
40/78 |
| Government expenditure, % of GDP |
32.5%
2025 |
81/195 |
| Consumer prices inflation |
1.69%
2023-2024 |
152/195 |
| Central bank interest rate |
4.75%
2025 |
66/105 |
| Unemployment rate |
3.52%
2024 |
133/196 |
| Population |
36428123
|
45/197 |
Saudi Arabia's GDP per capita
Saudi Arabia has a GDP per capita of $35,057, ranking 32/197, a GDP per capita based on purchasing power parity (PPP) of $71,243, ranking 22/197, and a median annual after tax income of $25,072, ranking 31/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1960 | $718 | - |
| 1961 | $760 | - |
| 1962 | $813 | - |
| 1963 | $812 | - |
| 1964 | $840 | - |
| 1965 | $904 | - |
| 1966 | $961 | - |
| 1967 | $1,032 | - |
| 1968 | $1,276 | - |
| 1969 | $1,313 | - |
| 1970 | $1,509 | - |
| 1971 | $1,929 | - |
| 1972 | $2,474 | - |
| 1973 | $3,640 | - |
| 1974 | $10,503 | - |
| 1975 | $10,266 | - |
| 1976 | $13,313 | - |
| 1977 | $14,595 | - |
| 1978 | $14,914 | - |
| 1979 | $19,612 | - |
| 1980 | $27,206 | - |
| 1981 | $28,703 | - |
| 1982 | $22,454 | - |
| 1983 | $17,810 | - |
| 1984 | $15,541 | - |
| 1985 | $12,745 | - |
| 1986 | $10,078 | - |
| 1987 | $9,386 | - |
| 1988 | $9,165 | - |
| 1989 | $9,414 | - |
| 1990 | $11,055 | $46,214 |
| 1991 | $11,847 | $49,295 |
| 1992 | $11,730 | $50,355 |
| 1993 | $10,885 | $49,503 |
| 1994 | $10,602 | $48,904 |
| 1995 | $10,786 | $48,052 |
| 1996 | $11,472 | $48,569 |
| 1997 | $11,545 | $48,796 |
| 1998 | $9,836 | $48,867 |
| 1999 | $10,452 | $47,495 |
| 2000 | $11,715 | $48,644 |
| 2001 | $10,805 | $47,381 |
| 2002 | $10,586 | $45,466 |
| 2003 | $11,487 | $48,078 |
| 2004 | $13,154 | $51,225 |
| 2005 | $15,976 | $53,548 |
| 2006 | $17,564 | $54,639 |
| 2007 | $18,596 | $55,030 |
| 2008 | $22,320 | $57,236 |
| 2009 | $17,718 | $54,787 |
| 2010 | $22,028 | $58,829 |
| 2011 | $27,127 | $64,125 |
| 2012 | $28,733 | $65,034 |
| 2013 | $27,865 | $62,203 |
| 2014 | $27,805 | $62,578 |
| 2015 | $23,256 | $53,931 |
| 2016 | $22,268 | $49,937 |
| 2017 | $23,929 | $53,120 |
| 2018 | $29,360 | $59,378 |
| 2019 | $29,567 | $59,560 |
| 2020 | $24,339 | $47,518 |
| 2021 | $31,921 | $62,690 |
| 2022 | $38,510 | $71,968 |
| 2023 | $36,157 | $71,565 |
| 2024 | $35,057 | $71,243 |
Saudi Arabia's government spending, deficit, and chart
This chart shows Saudi Arabia's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 35 years, Saudi Arabia recorded a fiscal deficit in 23 years — average annual deficit equal to -0.39% of GDP. In 2024, government spending reached $418B (32.5% of GDP), with a deficit of -4.93%.
The national debt reached $370B, ranking 25th out of 185 countries by total size, with a debt-to-GDP ratio of 34.8%, ranking 149th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1990 | 39.3% | - | - |
| 1991 | 34.9% | 39.4% | -3.28% |
| 1992 | 41.2% | 47.8% | -8.12% |
| 1993 | 37.7% | 58.6% | -9.33% |
| 1994 | 33.8% | 67.9% | -8.31% |
| 1995 | 32.4% | 74.2% | -5.12% |
| 1996 | 33.3% | 75.2% | -3.25% |
| 1997 | 35.6% | 76.7% | -2.51% |
| 1998 | 34.5% | 101.5% | -8.88% |
| 1999 | 30.3% | 103% | -5.99% |
| 2000 | 33.1% | 86.7% | 3.18% |
| 2001 | 36.9% | 93.1% | -3.91% |
| 2002 | 35.9% | 96.4% | -5.91% |
| 2003 | 33.1% | 81.6% | 1.2% |
| 2004 | 31.1% | 62.9% | 9.72% |
| 2005 | 28.2% | 37.3% | 18% |
| 2006 | 27.3% | 25.8% | 20.8% |
| 2007 | 29.5% | 17.1% | 11.8% |
| 2008 | 26.7% | 12.1% | 29.8% |
| 2009 | 37.1% | 14% | -5.38% |
| 2010 | 33% | 8.43% | 4.39% |
| 2011 | 32.6% | 5.34% | 11.5% |
| 2012 | 33% | 3.01% | 11.8% |
| 2013 | 35.2% | 2.13% | 5.58% |
| 2014 | 39.7% | 1.54% | -3.49% |
| 2015 | 39.9% | 5.67% | -15.5% |
| 2016 | 34.5% | 12.7% | -13.7% |
| 2017 | 32.1% | 16.5% | -8.89% |
| 2018 | 34% | 17.6% | -5.45% |
| 2019 | 33.7% | 21.6% | -4.2% |
| 2020 | 39.1% | 31% | -10.7% |
| 2021 | 31.7% | 28.6% | -2.24% |
| 2022 | 28.2% | 23.8% | 2.5% |
| 2023 | 32.3% | 26.2% | -2.02% |
| 2024 | 33.8% | 29.9% | -2.84% |
| 2025 | 32.5% | 34.8% | -4.93% |
Inflation rate by year
Over the past 20 years, Saudi Arabia has had an average annual inflation rate of 2.87%. In 2024, inflation was 1.69%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1964 | 2.8% |
| 1965 | 0.39% |
| 1966 | 1.55% |
| 1967 | 2.1% |
| 1968 | 1.59% |
| 1969 | 3.5% |
| 1970 | 0.18% |
| 1971 | 4.47% |
| 1972 | 4.33% |
| 1973 | 16.5% |
| 1974 | 21.4% |
| 1975 | 34.6% |
| 1976 | 31.6% |
| 1977 | 11.4% |
| 1978 | -1.58% |
| 1979 | 1.08% |
| 1980 | 4.17% |
| 1981 | 2.8% |
| 1982 | 1.02% |
| 1983 | 0.19% |
| 1984 | -1.56% |
| 1985 | -3.06% |
| 1986 | -3.2% |
| 1987 | -1.55% |
| 1988 | 0.91% |
| 1989 | 1.03% |
| 1990 | 2.08% |
| 1991 | 4.86% |
| 1992 | -0.08% |
| 1993 | 1.06% |
| 1994 | 0.56% |
| 1995 | 4.87% |
| 1996 | 1.22% |
| 1997 | 0.06% |
| 1998 | -0.37% |
| 1999 | -1.33% |
| 2000 | -1.13% |
| 2001 | -1.12% |
| 2002 | 0.25% |
| 2003 | 0.61% |
| 2004 | 0.52% |
| 2005 | 0.48% |
| 2006 | 2.21% |
| 2007 | 4.17% |
| 2008 | 9.87% |
| 2009 | 5.06% |
| 2010 | 5.34% |
| 2011 | 5.83% |
| 2012 | 2.87% |
| 2013 | 3.53% |
| 2014 | 2.24% |
| 2015 | 1.2% |
| 2016 | 2.07% |
| 2017 | -0.84% |
| 2018 | 2.46% |
| 2019 | -2.09% |
| 2020 | 3.45% |
| 2021 | 3.06% |
| 2022 | 2.47% |
| 2023 | 2.33% |
| 2024 | 1.69% |
Balance of trade
|
Saudi Arabia
|
Rank | |
|---|---|---|
Current account balance
|
-$5.75B
2024 |
171/189 |
| Current account balance, % of GDP |
-0.46%
2024 |
79/189 |
| Goods imports |
$215B
2024 |
26/188 |
| Goods exports |
$306B
2024 |
23/188 |
| Service imports |
$102B
2024 |
22/188 |
| Service exports |
$55.3B
2024 |
30/188 |
| Imports of goods and services, % of GDP |
25.6%
2024 |
148/180 |
| Exports of goods and services, % of GDP |
29.2%
2024 |
114/193 |
Saudi Arabia's top 10 trading partners
Saudi Arabia's biggest trading partner accounting for 19.4%% of all exports and imports is China, with a trade balance between the two of -$8.86B — Saudi Arabia exports $46.5B worth of goods and services to China and imports $55.4B.
Below is the list of the top 10 trade partners of Saudi Arabia.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$102B | 19.4% | $46.5B | $55.4B | Raw materials & minerals | Machinery & equipment |
| 2 |
India
|
$40B | 7.61% | $27.3B | $12.8B | Raw materials & minerals | Machinery & equipment |
| 3 |
Japan
|
$36.8B | 6.99% | $28.4B | $8.41B | Raw materials & minerals | Machinery & equipment |
| 4 |
UAE
|
$36B | 6.84% | $23.1B | $12.8B | Machinery & equipment | Precious metals & jewellery |
| 5 |
South Korea
|
$34.7B | 6.6% | $28.6B | $6.05B | Raw materials & minerals | Machinery & equipment |
| 6 |
United States
|
$32.5B | 6.17% | $12.8B | $19.6B | Raw materials & minerals | Machinery & equipment |
| 7 |
Egypt
|
$16.3B | 3.11% | $8.61B | $7.74B | Raw materials & minerals | Raw materials & minerals |
| 8 |
Bahrain
|
$12.6B | 2.4% | $9.88B | $2.74B | Raw materials & minerals | Metals |
| 9 |
Poland
|
$12.2B | 2.32% | $10.6B | $1.61B | Raw materials & minerals | Machinery & equipment |
| 10 |
Italy
|
$12.1B | 2.29% | $4.05B | $8.02B | Raw materials & minerals | Machinery & equipment |
Saudi Arabia's top 10 exports
|
Saudi Arabia
|
Rank | |
|---|---|---|
| Raw materials & minerals | $232B | 4/193 |
| Transport & tourism services | $45.7B | 19/188 |
| Chemicals & pharma | $32.8B | 20/193 |
| Machinery & equipment | $22.1B | 38/193 |
| Metals | $6.09B | 44/192 |
| Processed food, beverages & tobacco | $3.17B | 50/192 |
| Precious metals & jewellery | $2.91B | 39/190 |
| Animal & marine products | $1.96B | 40/192 |
| IT & IP services | $1.75B | 52/183 |
| Textiles & consumer goods | $1.56B | 67/193 |
Saudi Arabia's top 10 imports
|
Saudi Arabia
|
Rank | |
|---|---|---|
| Machinery & equipment | $95.8B | 26/193 |
| Transport & tourism services | $50.1B | 14/188 |
| Chemicals & pharma | $24.8B | 30/193 |
| Metals | $21.3B | 20/193 |
| Business & finance services | $20.4B | 25/188 |
| Raw materials & minerals | $18.9B | 35/193 |
| Textiles & consumer goods | $15.7B | 24/193 |
| Government & miscellaneous services | $12.7B | 2/180 |
| Processed food, beverages & tobacco | $12.1B | 20/193 |
| Precious metals & jewellery | $11.4B | 16/193 |
Economic freedom indices
|
Saudi Arabia
|
Rank | |
|---|---|---|
| Economic freedom | 64.4 | 70/197 |
| Property rights | 51 | 89/182 |
| Government integrity | 48.1 | 89/182 |
| Judicial effectiveness | 38.1 | 89/182 |
| Tax burden | 99.3 | 4/181 |
| Government spending | 71.6 | 100/180 |
| Fiscal health | 98.1 | 7/181 |
| Business freedom | 70.6 | 73/182 |
| Labor freedom | 43.1 | 170/182 |
| Monetary freedom | 80.1 | 8/180 |
| Trade freedom | 72.8 | 83/181 |
| Investment freedom | 50 | 124/181 |
| Financial freedom | 50 | 96/181 |
Saudi Arabia's economic freedom by year
Saudi Arabia is ranked 63/180 for economic freedom with a score of 64.4, compared to 54/163 and a score of 63 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1996 | 68.3 | - | 99.4 | 46.3 | - |
| 1997 | 68.7 | - | 99.4 | 56.7 | - |
| 1998 | 69.3 | - | 99.4 | 59.2 | - |
| 1999 | 65.5 | - | 99.4 | 56.9 | - |
| 2000 | 66.5 | - | 99.4 | 82.7 | - |
| 2001 | 62.2 | - | 99.4 | 65.3 | - |
| 2002 | 65.3 | - | 99.4 | 71.2 | - |
| 2003 | 63.2 | - | 99.4 | 66.7 | - |
| 2004 | 60.4 | - | 99.4 | 58.5 | - |
| 2005 | 63 | - | 99.4 | 67.3 | - |
| 2006 | 63 | - | 99.4 | 69.3 | - |
| 2007 | 60.9 | - | 99.4 | 66.7 | - |
| 2008 | 62.5 | - | 99.7 | 69.1 | - |
| 2009 | 64.3 | - | 99.6 | 73.4 | - |
| 2010 | 64.1 | - | 99.6 | 68.1 | - |
| 2011 | 66.2 | - | 99.4 | 74.6 | - |
| 2012 | 62.5 | - | 99.6 | 37.3 | - |
| 2013 | 60.6 | - | 99.6 | 52.2 | - |
| 2014 | 62.2 | - | 99.7 | 63.1 | - |
| 2015 | 62.1 | - | 99.7 | 61.9 | - |
| 2016 | 62.1 | - | 99.7 | 56.8 | - |
| 2017 | 64.4 | 65 | 99.7 | 54.5 | 65.7 |
| 2018 | 59.6 | 60.2 | 99.7 | 52 | 19.7 |
| 2019 | 60.7 | 62.7 | 99.8 | 57.5 | 19.4 |
| 2020 | 62.4 | 72.3 | 99.8 | 61.8 | 19.3 |
| 2021 | 66 | 76.7 | 99.1 | 62.9 | 31 |
| 2022 | 55.5 | 35.8 | 99.3 | 57.3 | 17.9 |
| 2023 | 58.3 | 49.6 | 99.4 | 60.3 | 41.3 |
| 2024 | 61.9 | 37 | 99.1 | 67.2 | 79.5 |
| 2025 | 64.4 | 38.1 | 99.3 | 71.6 | 98.1 |
More economic indicators
|
Saudi Arabia
|
Rank | |
|---|---|---|
| Services, % of GDP |
47.2%
2024 |
147/191 |
| Industry, % of GDP |
44.8%
2024 |
12/194 |
| Agriculture, forestry, and fishing, % of GDP |
2.54%
2024 |
139/193 |
|
GNI, Atlas method
|
$1.26T
2024 |
17/194 |
| GNI per capita, PPP |
$71,600
2024 |
18/191 |
| Total reserves including gold |
$464B
2024 |
7/177 |
|
Net foreign direct investment
|
$1.8B
2024 |
22/188 |
|
Net inflows of foreign direct investment
|
$20.3B
2024 |
20/193 |
|
Net outflows of foreign direct investment
|
$22B
2024 |
21/187 |
|
Gross capital formation, % of GDP
|
30.1%
2024 |
36/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Saudi Arabia topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.