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Economy of Saudi Arabia vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Saudi Arabia has a GDP of $1.24T compared to $99B for Sri Lanka, ranking 18/197 and 72/197 by economy size, respectively.

Saudi Arabia has $324B in government debt (26.2% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Saudi Arabia vs Sri Lanka GDP by year

Saudi Arabia
Sri Lanka
1x
Year GDP, current $
Saudi Arabia Sri Lanka
2024 $1,239,804,533,333 $98,963,185,510
2023 $1,218,584,533,333 $83,716,142,582
2022 $1,239,075,200,000 $74,143,020,263
2021 $982,661,066,667 $88,556,698,938
2020 $767,951,200,000 $84,335,574,582
2019 $888,890,133,333 $88,998,706,297
2018 $886,564,800,000 $94,450,015,983
2017 $741,266,133,333 $94,369,350,286
2016 $689,279,466,667 $88,000,211,172
2015 $693,414,400,000 $85,090,301,052
2014 $787,153,066,667 $82,531,125,191
2013 $769,755,733,333 $76,976,203,829
2012 $751,921,333,333 $70,447,217,164
2011 $680,660,800,000 $67,753,285,897
2010 $528,207,466,667 $58,636,049,434
2009 $429,097,866,667 $42,066,224,093
2008 $519,796,800,000 $40,713,826,215
2007 $415,964,509,673 $32,350,238,760
2006 $376,900,133,511 $28,267,410,543
2005 $328,459,608,764 $24,405,791,045
2004 $258,742,133,333 $20,662,525,941
2003 $215,807,733,333 $18,881,765,437
2002 $189,605,866,667 $16,536,535,647
2001 $184,137,600,000 $15,749,753,805
2000 $189,514,933,333 $16,595,882,819
1999 $161,717,066,667 $15,711,933,513
1998 $146,775,466,667 $15,760,736,956
1997 $165,963,684,913 $15,091,913,884
1996 $158,662,483,311 $13,897,738,375
1995 $143,343,124,166 $13,029,697,561
1994 $135,174,899,866 $11,717,604,209
1993 $132,967,957,276 $10,338,679,636
1992 $137,087,850,467 $9,703,011,636
1991 $132,223,230,975 $9,000,362,582
1990 $117,630,173,565 $8,032,551,173
1989 $95,344,459,279 $6,987,267,684
1988 $88,256,074,766 $6,978,371,581
1987 $85,695,861,148 $6,682,167,120
1986 $86,961,922,765 $6,405,210,564
1985 $103,897,846,494 $5,978,460,972
1984 $119,624,858,116 $6,043,474,843
1983 $129,171,635,311 $5,167,913,302
1982 $153,240,313,858 $4,768,765,017
1981 $184,291,360,139 $4,415,844,156
1980 $164,539,660,725 $4,024,621,900
1979 $111,858,444,786 $3,364,611,432
1978 $80,266,516,687 $2,733,183,857
1977 $74,188,986,586 $4,104,509,583
1976 $64,005,665,722 $3,591,319,857
1975 $46,773,208,643 $3,791,298,146
1974 $45,412,957,746 $3,574,586,466
1973 $14,947,435,499 $2,875,625,000
1972 $9,664,267,087 $2,553,936,348
1971 $7,184,806,909 $2,369,308,600
1970 $5,377,333,333 $2,296,470,588
1969 $4,485,777,644 $1,965,546,218
1968 $4,187,777,711 $1,801,344,538
1967 $3,257,022,223 $1,859,465,021
1966 $2,920,555,557 $1,751,470,588
1965 $2,647,955,558 $1,698,319,328
1964 $2,371,808,713 $1,309,747,899
1963 $2,207,393,172 $1,240,672,269
1962 $2,130,606,532 $1,434,156,379
1961 $1,920,811,284 $1,444,327,731
1960 $1,748,124,064 $1,409,873,950

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

GDP per capita in Saudi Arabia vs Sri Lanka by year

Saudi Arabia
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Saudi Arabia Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $35,122 $71,375 $4,516 $15,633
2023 $36,157 $71,565 $3,799 $14,456
2022 $38,510 $71,968 $3,343 $14,194
2021 $31,921 $62,690 $3,997 $14,316
2020 $24,339 $47,518 $3,848 $12,941
2019 $29,567 $59,560 $4,082 $14,113
2018 $29,360 $59,378 $4,359 $14,178
2017 $23,929 $53,120 $4,399 $13,610
2016 $22,268 $49,937 $4,149 $13,079
2015 $23,256 $53,931 $4,058 $12,227
2014 $27,805 $62,578 $3,972 $11,721
2013 $27,865 $62,203 $3,739 $11,253
2012 $28,733 $65,034 $3,328 $10,249
2011 $27,127 $64,125 $3,225 $9,076
2010 $22,028 $58,829 $2,808 $8,234
2009 $17,718 $54,787 $2,027 $7,576
2008 $22,320 $57,236 $1,974 $7,317
2007 $18,596 $55,030 $1,579 $6,820
2006 $17,564 $54,639 $1,389 $6,261
2005 $15,976 $53,548 $1,207 $5,679
2004 $13,154 $51,225 $1,029 $5,216
2003 $11,487 $48,078 $946 $4,850
2002 $10,586 $45,466 $835 $4,522
2001 $10,805 $47,381 $804 $4,328
2000 $11,715 $48,644 $860 $4,368
1999 $10,452 $47,495 $829 $4,103
1998 $9,836 $48,867 $848 $3,952
1997 $11,545 $48,796 $827 $3,804
1996 $11,472 $48,569 $776 $3,582
1995 $10,786 $48,052 $742 $3,454
1994 $10,602 $48,904 $678 $3,260
1993 $10,885 $49,503 $607 $3,067
1992 $11,730 $50,355 $580 $2,851
1991 $11,847 $49,295 $546 $2,713
1990 $11,055 $46,214 $491 $2,527
1989 $9,414 - $430 -
1988 $9,165 - $434 -
1987 $9,386 - $420 -
1986 $10,078 - $407 -
1985 $12,745 - $385 -
1984 $15,541 - $391 -
1983 $17,810 - $336 -
1982 $22,454 - $312 -
1981 $28,703 - $292.5 -
1980 $27,206 - $271.1 -
1979 $19,612 - $230.8 -
1978 $14,914 - $191 -
1977 $14,595 - $292.1 -
1976 $13,313 - $260.3 -
1975 $10,266 - $279.8 -
1974 $10,503 - $268.7 -
1973 $3,640 - $220.2 -
1972 $2,474 - $199.4 -
1971 $1,929 - $188.8 -
1970 $1,509 - $186.9 -
1969 $1,313 - $163.6 -
1968 $1,276 - $153.5 -
1967 $1,032 - $162.3 -
1966 $961 - $156.6 -
1965 $904 - $155.6 -
1964 $840 - $122.9 -
1963 $812 - $119.4 -
1962 $813 - $141.4 -
1961 $760 - $145.9 -
1960 $718 - $145.9 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

Saudi Arabia's GDP per capita is $35,122, ranking 33/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Saudi Arabia ranks 24th at $71,375, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Saudi Arabia Sri Lanka
Gross domestic product
$1.24T
2024
$99B
2024
GDP rank
18/197
2024
72/197
2024
GDP growth
2%
2023-2024
5.01%
2023-2024
GDP per capita
$35,122
2024
$4,516
2024
GDP per capita rank
33/197
2024
124/197
2024
GDP per capita, PPP
$71,375
2024
$15,633
2024
GDP per capita PPP rank
24/197
2024
111/197
2024
Government debt
$324B
2024
$99.8B
2024
Debt-to-GDP ratio
26.2%
2024
100.8%
2024
Government debt per person
$9,185
2024
$4,554
2024
Government debt per person rank
58/185
2024
85/185
2024
Average annual personal income after taxes
$23,076
2026
$2,874
2026
Market capitalization of domestic companies
$2.73T
2024
$19.5B
2024
Number of millionaires
351,855
2025
n/a
Number of billionaires
15
2025
n/a
Income share by richest 10% n/a
30.8%
2019
Income share by poorest 10% n/a
3.1%
2019
Government expenditure, % of GDP
29.6%
2024
19.3%
2024
Consumer prices inflation
1.69%
2023-2024
-0.43%
2023-2024
Central bank interest rate
4.25%
2025
7.75%
2025
Unemployment rate
3.52%
2024
4.67%
2023
Population
36734925
22185425

Spending and national debt comparison by year

Saudi Arabia
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Saudi Arabia Sri Lanka
Government spending Government debt Government spending Government debt
2024 29.6% 26.2% 19.3% 100.8%
2023 28.3% 23% 19.5% 110.4%
2022 25.3% 21.3% 18.6% 115.9%
2021 28.2% 25.5% 20% 102.7%
2020 37.4% 29.7% 22.1% 96.9%
2019 31.8% 20.3% 19.5% 82.6%
2018 32.4% 16.8% 17.5% 83.6%
2017 30.9% 15.9% 17.9% 72.3%
2016 33.3% 12.2% 18.2% 75%
2015 38.5% 5.47% 19.3% 76.3%
2014 38.6% 1.5% 17.2% 69.6%
2013 34.5% 2.08% 16.6% 69.5%
2012 32.5% 2.97% 17.3% 67.5%
2011 32.4% 5.31% 19.1% 69.4%
2010 33% 8.43% 19.3% 68.7%
2009 37.1% 14% 21% 72.8%
2008 26.7% 12.1% 19.1% 68.8%
2007 29.5% 17.1% 19.9% 71.8%
2006 27.3% 25.8% 20.5% 74.3%
2005 28.2% 37.3% 20.1% 76.6%
2004 31.1% 62.9% 19.3% 86.5%
2003 33.1% 81.6% 19.3% 86.5%
2002 35.9% 96.4% 20.8% 96.3%
2001 36.9% 93.1% 22.4% 84.4%
2000 33.1% 86.7% 21.7% 79.2%
1999 30.3% 103% 20.5% 77.7%
1998 34.5% 101.5% 21.4% 74.2%
1997 35.6% 76.7% 21.4% 70.1%
1996 33.3% 75.2% 23.1% 76.2%
1995 32.4% 74.2% 24.8% 77.8%
1994 33.8% 67.9% 24.1% 77.9%
1993 37.7% 58.6% 23.2% 79.2%
1992 41.2% 47.8% 23% 77.9%
1991 34.9% 39.4% 26.4% 80.5%
1990 39.3% - 25.4% 78.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

In 2024, Saudi Arabia's government spending was $367B, accounting for 29.6% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 26.2% in Saudi Arabia and 100.8% in Sri Lanka, ranking 163/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Saudi Arabia

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Saudi Arabia Sri Lanka
2024 -2.49% -5.64%
2023 -1.77% -8.32%
2022 2.24% -10.2%
2021 -1.99% -11.7%
2020 -10.2% -13.4%
2019 -3.96% -7.52%
2018 -5.21% -4.96%
2017 -8.57% -5.1%
2016 -13.2% -5%
2015 -14.9% -6.64%
2014 -3.4% -5.99%
2013 5.47% -5%
2012 11.7% -5.44%
2011 11.4% -6.01%
2010 4.39% -6.73%
2009 -5.38% -8.33%
2008 29.8% -5.93%
2007 11.8% -5.81%
2006 20.8% -5.91%
2005 18% -5.93%
2004 9.72% -6.32%
2003 1.2% -6.15%
2002 -5.91% -6.9%
2001 -3.91% -8.48%
2000 3.18% -7.78%
1999 -5.99% -5.58%
1998 -8.88% -6.79%
1997 -2.51% -5.71%
1996 -3.25% -6.89%
1995 -5.12% -7.11%
1994 -8.31% -7.41%
1993 -9.33% -5.77%
1992 -8.12% -4.95%
1991 -3.28% -7.97%
1990 - -6.39%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

In 2024, Saudi Arabia's government deficit, the difference between spending and revenue, was $30.9B, equivalent to 2.49% of GDP. This compares to Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 34 years, Saudi Arabia recorded a fiscal deficit in 22 of those years, while Sri Lanka ran a deficit in 34 years. On average, Saudi Arabia posted an annual deficit equal to 0.18% of GDP, compared to deficit of 6.86% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Saudi Arabia

Sri Lanka
1x
Year Consumer prices inflation
Saudi Arabia Sri Lanka
2024 1.69% -0.43%
2023 2.33% 16.5%
2022 2.47% 49.7%
2021 3.06% 7.01%
2020 3.37% 6.15%
2019 -1.19% 3.53%
2018 2.47% 2.14%
2017 -0.83% 7.7%
2016 2.05% 3.96%
2015 1.22% 3.77%
2014 2.24% 3.18%
2013 3.51% 6.91%
2012 2.87% 7.54%
2011 5.83% 6.72%
2010 5.34% 6.22%
2009 5.06% 3.46%
2008 9.87% 22.6%
2007 4.17% 15.8%
2006 2.21% 10%
2005 0.48% 11.6%
2004 0.52% 7.58%
2003 0.61% 6.31%
2002 0.25% 9.55%
2001 -1.12% 14.2%
2000 -1.12% 6.18%
1999 -1.33% 4.69%
1998 -0.37% 9.36%
1997 0.06% 9.57%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

Over the past 28 years, Saudi Arabia has recorded an average annual inflation rate of 1.99%, compared with 9.34% in Sri Lanka. In 2024, inflation was 1.69% in Saudi Arabia and -0.43% in Sri Lanka.

Top exports between countries

Saudi Arabia
Export category Export value
Raw materials & minerals $88.7M
Chemicals & pharma $35.8M
Machinery & equipment $4.13M
Raw agricultural goods $2.28M
Wood & paper products $1.93M
Miscellaneous $1.48M
Processed food, beverages & tobacco $1.38M
Metals $1.06M
Textiles & consumer goods $326K
Animal & marine products $41K
Sri Lanka
Export category Export value
Raw agricultural goods $86.9M
Raw materials & minerals $9.57M
Textiles & consumer goods $7.35M
Processed food, beverages & tobacco $3.9M
Animal & marine products $3.29M
Machinery & equipment $1.79M
Wood & paper products $1.01M
Miscellaneous $908K
Chemicals & pharma $791K
Metals $120K

Balance of trade

Saudi Arabia Sri Lanka
Current account balance
-$16.3B
2024
$1.21B
2024
Current account balance ranking
180/190
2024
53/190
2024
Current account balance, % of GDP
-1.31%
2024
+1.22%
2024
Goods imports
$214B
2024
$18.8B
2024
Goods exports
$306B
2024
$12.8B
2024
Service imports
$125B
2024
$3.48B
2024
Service exports
$62.8B
2024
$6.91B
2024
Imports of goods and services, % of GDP
25.6%
2024
22.5%
2024
Exports of goods and services, % of GDP
29.1%
2024
19.9%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Saudi Arabia Sri Lanka
Economic freedom 65.4 50.3
Economic freedom ranking 65/197 162/197
Property rights 51.4 47.3
Government integrity 52.7 37.3
Judicial effectiveness 38.2 47.2
Tax burden 99.2 77
Government spending 77 89
Fiscal health 97.9 0
Business freedom 71.2 60.1
Labor freedom 41.8 54.3
Monetary freedom 81.2 65.9
Trade freedom 73.8 65.6
Investment freedom 50 30
Financial freedom 50 30

Economic freedom comparison by year

Saudi Arabia
Sri Lanka
1x
Year Economic freedom index
Saudi Arabia Sri Lanka
2026 65.4 50.3
2025 64.4 49.4
2024 61.9 49.2
2023 58.3 52.2
2022 55.5 53.3
2021 66 55.7
2020 62.4 57.4
2019 60.7 56.4
2018 59.6 57.8
2017 64.4 57.4
2016 62.1 59.9
2015 62.1 58.6
2014 62.2 60
2013 60.6 60.7
2012 62.5 58.3
2011 66.2 57.1
2010 64.1 54.6
2009 64.3 56
2008 62.5 58.4
2007 60.9 59.4
2006 63 58.7
2005 63 61
2004 60.4 61.6
2003 63.2 62.5
2002 65.3 64
2001 62.2 66
2000 66.5 63.2
1999 65.5 64
1998 69.3 64.6
1997 68.7 65.5
1996 68.3 62.5
1995 - 60.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

The Economic Freedom Index for Saudi Arabia is 65.4, ranking 65/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Saudi Arabia Sri Lanka
Services, % of GDP
47.1%
2024
57.5%
2024
Industry, % of GDP
44.9%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.54%
2024
8.3%
2024
GNI, Atlas method
$1.26T
2024
$84.6B
2024
GNI per capita, PPP
$71,730
2024
$15,240
2024
Total reserves including gold
$464B
2024
$6.09B
2024
Total reserves ranking
7/177
2024
92/177
2024
Net foreign direct investment
$6.27B
2024
-$651M
2024
Net inflows of foreign direct investment
$21.3B
2024
$761M
2024
Net outflows of foreign direct investment
$27.6B
2024
$110M
2024
Servicing debt to the IMF, % of GNI n/a
4.98%
2024
Poverty at national poverty lines n/a
14.3%
2019
Gross capital formation, % of GDP
30.2%
2024
27%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/saudi-arabia/sri-lanka | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.