Skip to content

Saudi Arabia vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Saudi Arabia ranked 18th with $786.5B. By GDP 5-years average growth and GDP per capita, South Korea and Saudi Arabia ranked 93rd vs 124th and 33rd vs 41st, respectively.

Gross Domestic Product & Income

StatSaudi ArabiaSouth Korea
GDP$786.5B$1.6T
GDP growth, 1 year2.2%2.7%
GDP growth, 5-years average2.2%3%
Population33M51.1M
GDP per capita$23k$31k
GDP per capita growth0.61%2.33%
Purchasing Power Parity conversion factor1.58860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.420.78
GDP per capita, PPP adjusted$56k$41k
GNI, Atlas method$727.8B$1.6T
GNI per capita$22k$31k
GNI, PPP adjusted$1.9T$2.1T
GNI per capita, PPP adjusted$56k$40k

Financial system and Human development

StatSaudi ArabiaSouth Korea
Income Tax Rate2.5%42%
Corporate Tax Rate2.5%25%
Inflation, consumer prices2.5%1.5%
Inflation, GDP deflator11.5%0.3%
Unemployment5.9%3.8%
Economic Freedom Index62.474
Personal Freedom Index4.658.84
Human Freedom Index5.668.15
Property Rights Index64.682.5
Judical Effectiveness Index72.361
Business Freedom Index66.690.5
Fiscal Health Index19.396.7
Labor Freedom Index63.356.2
Investment Freedom Index4570
Financial Freedom Index5070
Trade Freedom Index75.480
Monetary Freedom Index8182.1
Government Spending Index61.867.7
Tax Burden Index99.863.9
Government Integrity Index49.667.5
Corruption Perceptions Index4957
Life expectancy at birth, years74.982.6
Suicide mortality rate, per 100,000 people3.226.9
Mortality caused by road traffic injury, per 100,000 people28.89.8
Intentional homicides, per 100,000 people1.30.6
International tourism, number of arrivals15.3M15.3M

Government debt & reserves

StatSaudi ArabiaSouth Korea
Central government debt, % of GDP19.1%40.7%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI13.4%20.1%
Gross savings, % of GDP33.2%34.7%
Gross capital formation, % of GDP24.2%30.2%
Total reserves including gold$509.5B$403.1B
Foreign direct investment net inflows$4.2B$14.5B

Exports, imports and economic structure

StatSaudi ArabiaSouth Korea
Exports of goods and services, % of GDP39.9%44%
Imports of goods and services, % of GDP26.7%39%
Current account balance (balance of payments)$70.6B$76.4B
Revenue excluding grants, % of GDP26.8%27.8%
Grants excluding technical cooperation, BoP$290k$6.7M
Personal remittances received$334.9M$7.1B
Industry including construction value added, % of GDP49.5%35.1%
Agriculture, forestry and fishing value added, % of GDP2.2%2%
Charges for the use of intellectual property, payments BoPN/A$9.9B
Charges for the use of intellectual property, receipts BoPN/A$7.8B
Expense, % of GDP28%25.4%
Government Expenditure, % of GDP35.7%32.8%

Compare with countries close by GDP per capita

Saudi Arabia vs

CountryGDP
per capita
Population
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M
Barbados
$18k
285k
Latvia
$18k
1.95M
Uruguay
$17k
3.41M
Trinidad and Tobago
$17k
1.34M
Antigua and Barbuda
$17k
101k
Seychelles
$16k
95.8k
Oman
$16k
3.63M
Hungary
$16k
9.97M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M