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Economy of Saudi Arabia vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Saudi Arabia has a GDP of $1.24T compared to $51.4B for Turkmenistan, ranking 18/197 and 92/197 by economy size, respectively.

Saudi Arabia has $324B in government debt (26.2% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Saudi Arabia vs Turkmenistan GDP by year

Saudi Arabia
Turkmenistan
1x
Year GDP, current $
Saudi Arabia Turkmenistan
2024 $1,239,804,533,333 $51,387,209,872
2023 $1,218,584,533,333 $45,894,538,666
2022 $1,239,075,200,000 $42,208,726,138
2021 $982,661,066,667 $40,589,905,812
2020 $767,951,200,000 $41,509,903,182
2019 $888,890,133,333 $40,810,067,975
2018 $886,564,800,000 $40,765,428,571
2017 $741,266,133,333 $37,926,285,714
2016 $689,279,466,667 $36,169,428,571
2015 $693,414,400,000 $35,799,714,286
2014 $787,153,066,667 $43,524,210,526
2013 $769,755,733,333 $39,197,543,860
2012 $751,921,333,333 $35,164,210,526
2011 $680,660,800,000 $29,233,333,333
2010 $528,207,466,667 $22,583,157,895
2009 $429,097,866,667 $20,214,385,965
2008 $519,796,800,000 $19,271,523,179
2007 $415,964,509,673 $12,664,165,103
2006 $376,900,133,511 $10,276,674,365
2005 $328,459,608,764 $8,103,901,996
2004 $258,742,133,333 $6,838,351,088
2003 $215,807,733,333 $5,977,440,583
2002 $189,605,866,667 $4,462,029,109
2001 $184,137,600,000 $3,534,772,732
2000 $189,514,933,333 $2,904,663,311
1999 $161,717,066,667 $2,450,564,100
1998 $146,775,466,667 $2,605,689,134
1997 $165,963,684,913 $2,450,350,625
1996 $158,662,483,311 $2,378,759,975
1995 $143,343,124,166 $2,482,228,440
1994 $135,174,899,866 $2,561,118,608
1993 $132,967,957,276 $3,179,225,949
1992 $137,087,850,467 $3,200,539,816
1991 $132,223,230,975 $3,208,098,919
1990 $117,630,173,565 $3,189,539,641
1989 $95,344,459,279 $3,006,988,217
1988 $88,256,074,766 $3,010,982,414
1987 $85,695,861,148 $2,331,358,820
1986 $86,961,922,765 -
1985 $103,897,846,494 -
1984 $119,624,858,116 -
1983 $129,171,635,311 -
1982 $153,240,313,858 -
1981 $184,291,360,139 -
1980 $164,539,660,725 -
1979 $111,858,444,786 -
1978 $80,266,516,687 -
1977 $74,188,986,586 -
1976 $64,005,665,722 -
1975 $46,773,208,643 -
1974 $45,412,957,746 -
1973 $14,947,435,499 -
1972 $9,664,267,087 -
1971 $7,184,806,909 -
1970 $5,377,333,333 -
1969 $4,485,777,644 -
1968 $4,187,777,711 -
1967 $3,257,022,223 -
1966 $2,920,555,557 -
1965 $2,647,955,558 -
1964 $2,371,808,713 -
1963 $2,207,393,172 -
1962 $2,130,606,532 -
1961 $1,920,811,284 -
1960 $1,748,124,064 -

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

GeoRank.org/economy/saudi-arabia/turkmenistan | CC BY

GDP per capita in Saudi Arabia vs Turkmenistan by year

Saudi Arabia
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Saudi Arabia Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $35,122 $71,375 $6,857 $21,213
2023 $36,157 $71,565 $6,232 $19,829
2022 $38,510 $71,968 $5,838 $18,340
2021 $31,921 $62,690 $5,723 $16,434
2020 $24,339 $47,518 $5,973 $15,091
2019 $29,567 $59,560 $5,998 $15,478
2018 $29,360 $59,378 $6,125 $14,368
2017 $23,929 $53,120 $5,828 $13,278
2016 $22,268 $49,937 $5,687 $12,919
2015 $23,256 $53,931 $5,759 $12,715
2014 $27,805 $62,578 $7,164 $12,477
2013 $27,865 $62,203 $6,600 $11,723
2012 $28,733 $65,034 $6,054 $11,035
2011 $27,127 $64,125 $5,144 $10,283
2010 $22,028 $58,829 $4,059 $8,972
2009 $17,718 $54,787 $3,708 $8,285
2008 $22,320 $57,236 $3,606 $7,916
2007 $18,596 $55,030 $2,415 $6,901
2006 $17,564 $54,639 $1,997 $6,164
2005 $15,976 $53,548 $1,604 $5,489
2004 $13,154 $51,225 $1,379 $4,798
2003 $11,487 $48,078 $1,229 $4,536
2002 $10,586 $45,466 $936 $4,393
2001 $10,805 $47,381 $756 $4,401
2000 $11,715 $48,644 $634 $4,209
1999 $10,452 $47,495 $546 $3,981
1998 $9,836 $48,867 $591 $3,432
1997 $11,545 $48,796 $565 $3,222
1996 $11,472 $48,569 $558 $3,636
1995 $10,786 $48,052 $592 $3,405
1994 $10,602 $48,904 $622 $3,659
1993 $10,885 $49,503 $788 $4,422
1992 $11,730 $50,355 $811 $4,351
1991 $11,847 $49,295 $832 $5,117
1990 $11,055 $46,214 $848 $5,321
1989 $9,414 - $821 -
1988 $9,165 - $846 -
1987 $9,386 - $675 -
1986 $10,078 - - -
1985 $12,745 - - -
1984 $15,541 - - -
1983 $17,810 - - -
1982 $22,454 - - -
1981 $28,703 - - -
1980 $27,206 - - -
1979 $19,612 - - -
1978 $14,914 - - -
1977 $14,595 - - -
1976 $13,313 - - -
1975 $10,266 - - -
1974 $10,503 - - -
1973 $3,640 - - -
1972 $2,474 - - -
1971 $1,929 - - -
1970 $1,509 - - -
1969 $1,313 - - -
1968 $1,276 - - -
1967 $1,032 - - -
1966 $961 - - -
1965 $904 - - -
1964 $840 - - -
1963 $812 - - -
1962 $813 - - -
1961 $760 - - -
1960 $718 - - -

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

GeoRank.org/economy/saudi-arabia/turkmenistan | CC BY

Saudi Arabia's GDP per capita is $35,122, ranking 33/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), Saudi Arabia ranks 24th at $71,375, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Saudi Arabia Turkmenistan
Gross domestic product
$1.24T
2024
$51.4B
2024
GDP rank
18/197
2024
92/197
2024
GDP growth
2%
2023-2024
6.3%
2023-2024
GDP per capita
$35,122
2024
$6,857
2024
GDP per capita rank
33/197
2024
104/197
2024
GDP per capita, PPP
$71,375
2024
$21,213
2024
GDP per capita PPP rank
24/197
2024
94/197
2024
Government debt
$324B
2024
$2.11B
2024
Debt-to-GDP ratio
26.2%
2024
4.11%
2024
Government debt per person
$9,185
2024
$282
2024
Government debt per person rank
58/185
2024
179/185
2024
Average annual personal income after taxes
$23,076
2026
$7,520
2026
Market capitalization of domestic companies
$2.73T
2024
n/a
Number of millionaires
351,855
2025
n/a
Number of billionaires
15
2025
n/a
Income share by richest 10% n/a
31.5%
1998
Income share by poorest 10% n/a
2.4%
1998
Government expenditure, % of GDP
29.6%
2024
14.5%
2024
Consumer prices inflation
1.69%
2023-2024
4.6%
2023-2024
Central bank interest rate
4.25%
2025
n/a
Unemployment rate
3.52%
2024
4%
2010
Population
36734925
7776557

Spending and national debt comparison by year

Saudi Arabia
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Saudi Arabia Turkmenistan
Government spending Government debt Government spending Government debt
2024 29.6% 26.2% 14.5% 4.11%
2023 28.3% 23% 13.7% 5.46%
2022 25.3% 21.3% 13% 7.14%
2021 28.2% 25.5% 13.4% 12.3%
2020 37.4% 29.7% 13.5% 15.4%
2019 31.8% 20.3% 13.6% 17.7%
2018 32.4% 16.8% 13.7% 22.5%
2017 30.9% 15.9% 17.8% 24.7%
2016 33.3% 12.2% 14.1% 21.1%
2015 38.5% 5.47% 17.3% 19%
2014 38.6% 1.5% 17% 16%
2013 34.5% 2.08% 16.9% 20.4%
2012 32.5% 2.97% 14.7% 17.9%
2011 32.4% 5.31% 15.4% 14.8%
2010 33% 8.43% 14.6% 7.04%
2009 37.1% 14% 14.4% 3.09%
2008 26.7% 12.1% 11.7% 3.56%
2007 29.5% 17.1% 14.4% 3.06%
2006 27.3% 25.8% 16% 4.23%
2005 28.2% 37.3% 21.1% 6.82%
2004 31.1% 62.9% 20.3% 11.4%
2003 33.1% 81.6% 20.8% 16.9%
2002 35.9% 96.4% 19.4% 24.2%
2001 36.9% 93.1% 22.6% 34.1%
2000 33.1% 86.7% 25.9% 55.1%
1999 30.3% 103% 20.8% 66.7%
1998 34.5% 101.5% 26.1% 81.6%
1997 35.6% 76.7% 26.9% 64.2%
1996 33.3% 75.2% - -
1995 32.4% 74.2% - -
1994 33.8% 67.9% - -
1993 37.7% 58.6% - -
1992 41.2% 47.8% - -
1991 34.9% 39.4% - -
1990 39.3% - - -

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

GeoRank.org/economy/saudi-arabia/turkmenistan | CC BY

In 2024, Saudi Arabia's government spending was $367B, accounting for 29.6% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 26.2% in Saudi Arabia and 4.11% in Turkmenistan, ranking 163/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Saudi Arabia

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Saudi Arabia Turkmenistan
2024 -2.49% -0.08%
2023 -1.77% 0.11%
2022 2.24% 3.38%
2021 -1.99% 0.57%
2020 -10.2% -0.16%
2019 -3.96% -0.4%
2018 -5.21% -0.22%
2017 -8.57% -2.84%
2016 -13.2% -2.38%
2015 -14.9% -0.7%
2014 -3.4% 0.89%
2013 5.47% 1.53%
2012 11.7% 7.53%
2011 11.4% 3.84%
2010 4.39% 2.13%
2009 -5.38% 7.53%
2008 29.8% 10.7%
2007 11.8% 4.19%
2006 20.8% 5.64%
2005 18% 0.86%
2004 9.72% 1.47%
2003 1.2% 3.99%
2002 -5.91% 0.19%
2001 -3.91% 0.77%
2000 3.18% -0.55%
1999 -5.99% 2.48%
1998 -8.88% 1.15%
1997 -2.51% -0.2%
1996 -3.25% -
1995 -5.12% -
1994 -8.31% -
1993 -9.33% -
1992 -8.12% -
1991 -3.28% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/saudi-arabia/turkmenistan | 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 Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, Saudi Arabia recorded a fiscal deficit in 16 of those years, while Turkmenistan ran a deficit in 9 years. On average, Saudi Arabia posted an annual surplus equal to 1.12% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Saudi Arabia

Turkmenistan
1x
Year Consumer prices inflation
Saudi Arabia Turkmenistan
2024 1.69% 4.6%
2023 2.33% -1.6%
2022 2.47% 11.2%
2021 3.06% 19.5%
2020 3.37% 6.1%
2019 -1.19% 5.1%
2018 2.47% 13.3%
2017 -0.83% 8%
2016 2.05% 3.6%
2015 1.22% 7.4%
2014 2.24% 6%
2013 3.51% 6.8%
2012 2.87% 5.3%
2011 5.83% 5.3%
2010 5.34% 4.4%
2009 5.06% -2.7%
2008 9.87% 14.5%
2007 4.17% 6.3%
2006 2.21% 8.2%
2005 0.48% 10.7%
2004 0.52% 5.9%
2003 0.61% 5.6%
2002 0.25% 8.8%
2001 -1.12% 11.6%
2000 -1.12% 8%
1999 -1.33% 23.5%
1998 -0.37% 16.8%
1997 0.06% 83.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/saudi-arabia/turkmenistan | CC BY

Over the past 28 years, Saudi Arabia has recorded an average annual inflation rate of 1.99%, compared with 10.9% in Turkmenistan. In 2024, inflation was 1.69% in Saudi Arabia and 4.6% in Turkmenistan.

Top exports between countries

Saudi Arabia
Export category Export value
Machinery & equipment $2.27M
Chemicals & pharma $309K
Textiles & consumer goods $219K
Raw agricultural goods $85K
Raw materials & minerals $20K
Metals $2K
Miscellaneous $1K
Wood & paper products $1K
Turkmenistan
Export category Export value
Chemicals & pharma $45K
Processed food, beverages & tobacco $38K
Textiles & consumer goods $29K
Precious metals & jewellery $15K
Raw materials & minerals $8K
Machinery & equipment $4K

Balance of trade

Saudi Arabia Turkmenistan
Current account balance
-$16.3B
2024
n/a
Current account balance ranking
180/190
2024
n/a
Current account balance, % of GDP
-1.31%
2024
n/a
Goods imports
$214B
2024
n/a
Goods exports
$306B
2024
n/a
Service imports
$125B
2024
n/a
Service exports
$62.8B
2024
n/a
Imports of goods and services, % of GDP
25.6%
2024
11.2%
2024
Exports of goods and services, % of GDP
29.1%
2024
17.6%
2024

Economic freedom indices

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

Saudi Arabia Turkmenistan
Economic freedom 65.4 47
Economic freedom ranking 65/197 177/197
Property rights 51.4 17.4
Government integrity 52.7 8.4
Judicial effectiveness 38.2 12.3
Tax burden 99.2 94.2
Government spending 77 94.3
Fiscal health 97.9 99.9
Business freedom 71.2 37.5
Labor freedom 41.8 29.3
Monetary freedom 81.2 76.7
Trade freedom 73.8 74.2
Investment freedom 50 10
Financial freedom 50 10

Economic freedom comparison by year

Saudi Arabia
Turkmenistan
1x
Year Economic freedom index
Saudi Arabia Turkmenistan
2026 65.4 47
2025 64.4 47.1
2024 61.9 46.3
2023 58.3 46.5
2022 55.5 46.2
2021 66 47.4
2020 62.4 46.5
2019 60.7 48.4
2018 59.6 47.1
2017 64.4 47.4
2016 62.1 41.9
2015 62.1 41.4
2014 62.2 42.2
2013 60.6 42.6
2012 62.5 43.8
2011 66.2 43.6
2010 64.1 42.5
2009 64.3 44.2
2008 62.5 43.4
2007 60.9 43
2006 63 43.8
2005 63 47.6
2004 60.4 50.7
2003 63.2 51.3
2002 65.3 43.2
2001 62.2 41.8
2000 66.5 37.6
1999 65.5 36.1
1998 69.3 35
1997 68.7 -
1996 68.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/saudi-arabia/turkmenistan | CC BY

The Economic Freedom Index for Saudi Arabia is 65.4, ranking 65/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Saudi Arabia Turkmenistan
Services, % of GDP
47.1%
2024
50.4%
2024
Industry, % of GDP
44.9%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
2.54%
2024
12.2%
2024
GNI, Atlas method
$1.26T
2024
$48.8B
2024
GNI per capita, PPP
$71,730
2024
$21,020
2024
Total reserves including gold
$464B
2024
$1.51B
1999
Total reserves ranking
7/177
2024
135/177
1999
Net foreign direct investment
$6.27B
2024
n/a
Net inflows of foreign direct investment
$21.3B
2024
$1.64B
2024
Net outflows of foreign direct investment
$27.6B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.91%
2024
Poverty at national poverty lines n/a
0.2%
2020
Gross capital formation, % of GDP
30.2%
2024
47.2%
2012

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/turkmenistan | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.