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Economy of Saudi Arabia vs Ukraine compared: GDP & Debt

Updated on by Georank team

Saudi Arabia has a GDP of $1.24T compared to $191B for Ukraine, ranking 18/197 and 57/197 by economy size, respectively.

Saudi Arabia has $324B in government debt (26.2% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Saudi Arabia vs Ukraine GDP by year

Saudi Arabia
Ukraine
1x
Year GDP, current $
Saudi Arabia Ukraine
2024 $1,239,804,533,333 $190,741,262,415
2023 $1,218,584,533,333 $181,221,517,869
2022 $1,239,075,200,000 $161,989,520,721
2021 $982,661,066,667 $199,765,859,571
2020 $767,951,200,000 $156,617,722,013
2019 $888,890,133,333 $153,883,047,510
2018 $886,564,800,000 $130,891,088,294
2017 $741,266,133,333 $112,090,505,082
2016 $689,279,466,667 $93,355,869,404
2015 $693,414,400,000 $91,030,967,789
2014 $787,153,066,667 $133,503,871,862
2013 $769,755,733,333 $190,498,811,460
2012 $751,921,333,333 $182,591,753,828
2011 $680,660,800,000 $169,333,835,202
2010 $528,207,466,667 $141,209,170,427
2009 $429,097,866,667 $121,552,153,444
2008 $519,796,800,000 $188,110,390,660
2007 $415,964,509,673 $148,733,861,386
2006 $376,900,133,511 $111,884,752,475
2005 $328,459,608,764 $89,238,865,119
2004 $258,742,133,333 $67,220,154,164
2003 $215,807,733,333 $52,010,355,753
2002 $189,605,866,667 $43,956,163,612
2001 $184,137,600,000 $39,309,580,983
2000 $189,514,933,333 $32,375,083,935
1999 $161,717,066,667 $31,580,639,554
1998 $146,775,466,667 $41,882,523,345
1997 $165,963,684,913 $50,151,531,592
1996 $158,662,483,311 $44,558,831,005
1995 $143,343,124,166 $48,213,856,469
1994 $135,174,899,866 $52,549,580,265
1993 $132,967,957,276 $65,648,559,903
1992 $137,087,850,467 $73,945,908,384
1991 $132,223,230,975 $77,350,733,982
1990 $117,630,173,565 $81,393,558,423
1989 $95,344,459,279 $82,709,161,099
1988 $88,256,074,766 $74,703,517,903
1987 $85,695,861,148 $64,087,694,038
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/ukraine | CC BY

GDP per capita in Saudi Arabia vs Ukraine by year

Saudi Arabia
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Saudi Arabia Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $35,122 $71,375 $5,038 $18,550
2023 $36,157 $71,565 $4,803 $17,665
2022 $38,510 $71,968 $3,946 $14,770
2021 $31,921 $62,690 $4,510 $17,846
2020 $24,339 $47,518 $3,505 $15,541
2019 $29,567 $59,560 $3,423 $14,217
2018 $29,360 $59,378 $2,895 $12,555
2017 $23,929 $53,120 $2,467 $11,536
2016 $22,268 $49,937 $2,047 $10,865
2015 $23,256 $53,931 $1,988 $9,922
2014 $27,805 $62,578 $2,904 $10,494
2013 $27,865 $62,203 $4,130 $10,904
2012 $28,733 $65,034 $3,951 $9,552
2011 $27,127 $64,125 $3,657 $9,127
2010 $22,028 $58,829 $3,040 $8,453
2009 $17,718 $54,787 $2,607 $7,995
2008 $22,320 $57,236 $4,018 $9,324
2007 $18,596 $55,030 $3,160 $8,900
2006 $17,564 $54,639 $2,366 $7,971
2005 $15,976 $53,548 $1,875 $7,142
2004 $13,154 $51,225 $1,401 $6,663
2003 $11,487 $48,078 $1,076 $5,764
2002 $10,586 $45,466 $903 $5,123
2001 $10,805 $47,381 $800 $4,747
2000 $11,715 $48,644 $653 $4,228
1999 $10,452 $47,495 $632 $3,871
1998 $9,836 $48,867 $831 $3,794
1997 $11,545 $48,796 $987 $3,794
1996 $11,472 $48,569 $870 $3,812
1995 $10,786 $48,052 $933 $4,124
1994 $10,602 $48,904 $1,009 $4,565
1993 $10,885 $49,503 $1,254 $5,766
1992 $11,730 $50,355 $1,413 $6,568
1991 $11,847 $49,295 $1,483 $7,148
1990 $11,055 $46,214 $1,564 $7,591
1989 $9,414 - $1,593 -
1988 $9,165 - $1,444 -
1987 $9,386 - $1,244 -
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/ukraine | CC BY

Saudi Arabia's GDP per capita is $35,122, ranking 33/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Saudi Arabia ranks 24th at $71,375, while Ukraine ranks 101st at $18,550.

Economic indicators

Saudi Arabia Ukraine
Gross domestic product
$1.24T
2024
$191B
2024
GDP rank
18/197
2024
57/197
2024
GDP growth
2%
2023-2024
2.91%
2023-2024
GDP per capita
$35,122
2024
$5,038
2024
GDP per capita rank
33/197
2024
120/197
2024
GDP per capita, PPP
$71,375
2024
$18,550
2024
GDP per capita PPP rank
24/197
2024
101/197
2024
Government debt
$324B
2024
$171B
2024
Debt-to-GDP ratio
26.2%
2024
89.7%
2024
Government debt per person
$9,185
2024
$4,520
2024
Government debt per person rank
58/185
2024
86/185
2024
Average annual personal income after taxes
$23,076
2026
$5,370
2026
Market capitalization of domestic companies
$2.73T
2024
$4.42B
2018
Number of millionaires
351,855
2025
n/a
Number of billionaires
15
2025
7
2025
Income share by richest 10% n/a
21.7%
2020
Income share by poorest 10% n/a
4.3%
2020
Government expenditure, % of GDP
29.6%
2024
71.3%
2024
Consumer prices inflation
1.69%
2023-2024
6.5%
2023-2024
Central bank interest rate
4.25%
2025
15.5%
2025
Unemployment rate
3.52%
2024
9.83%
2021
Population
36734925
40125599

Spending and national debt comparison by year

Saudi Arabia
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Saudi Arabia Ukraine
Government spending Government debt Government spending Government debt
2024 29.6% 26.2% 71.3% 89.7%
2023 28.3% 23% 73.4% 81.2%
2022 25.3% 21.3% 65.4% 77.7%
2021 28.2% 25.5% 40.5% 48.9%
2020 37.4% 29.7% 45.6% 60.5%
2019 31.8% 20.3% 41.5% 50.5%
2018 32.4% 16.8% 41.9% 60.4%
2017 30.9% 15.9% 41.7% 71.6%
2016 33.3% 12.2% 40.8% 79.5%
2015 38.5% 5.47% 43% 79.3%
2014 38.6% 1.5% 44.8% 70.3%
2013 34.5% 2.08% 48.1% 40.5%
2012 32.5% 2.97% 49% 37.5%
2011 32.4% 5.31% 45.7% 36.9%
2010 33% 8.43% 49.2% 40.6%
2009 37.1% 14% 48.6% 35.4%
2008 26.7% 12.1% 47.1% 20.4%
2007 29.5% 17.1% 43.7% 12.3%
2006 27.3% 25.8% 44.6% 14.8%
2005 28.2% 37.3% 44.2% 17.7%
2004 31.1% 62.9% 41.6% 24.8%
2003 33.1% 81.6% 38.9% 29.4%
2002 35.9% 96.4% 37.9% 33.6%
2001 36.9% 93.1% 36.7% 36.7%
2000 33.1% 86.7% 35.5% 43.8%
1999 30.3% 103% 25.8% 59%
1998 34.5% 101.5% 37.1% 46.5%
1997 35.6% 76.7% 40.8% 28.9%
1996 33.3% 75.2% 36.9% 24.4%
1995 32.4% 74.2% 41.3% 30.2%
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); International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-02-20).

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

In 2024, Saudi Arabia's government spending was $367B, accounting for 29.6% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 26.2% in Saudi Arabia and 89.7% in Ukraine, ranking 163/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Saudi Arabia

Ukraine
1x
Year Deficit/surplus, % of GDP
Saudi Arabia Ukraine
2024 -2.49% -17.2%
2023 -1.77% -19.3%
2022 2.24% -15.6%
2021 -1.99% -3.97%
2020 -10.2% -5.92%
2019 -3.96% -2.08%
2018 -5.21% -2.12%
2017 -8.57% -2.36%
2016 -13.2% -2.46%
2015 -14.9% -1.16%
2014 -3.4% -4.46%
2013 5.47% -4.78%
2012 11.7% -4.31%
2011 11.4% -2.76%
2010 4.39% -5.77%
2009 -5.38% -6.27%
2008 29.8% -3.14%
2007 11.8% -1.97%
2006 20.8% -1.36%
2005 18% -2.28%
2004 9.72% -4.41%
2003 1.2% -0.89%
2002 -5.91% -1.84%
2001 -3.91% -3.03%
2000 3.18% -3.19%
1999 -5.99% 4.95%
1998 -8.88% -2.69%
1997 -2.51% -5.37%
1996 -3.25% -3.09%
1995 -5.12% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, Saudi Arabia recorded a fiscal deficit in 18 of those years, while Ukraine ran a deficit in 29 years. On average, Saudi Arabia posted an annual surplus equal to 0.77% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Saudi Arabia

Ukraine
1x
Year Consumer prices inflation
Saudi Arabia Ukraine
2024 1.69% 6.5%
2023 2.33% 12.9%
2022 2.47% 20.2%
2021 3.06% 9.4%
2020 3.37% 2.7%
2019 -1.19% 7.9%
2018 2.47% 10.9%
2017 -0.83% 14.4%
2016 2.05% 13.9%
2015 1.22% 48.7%
2014 2.24% 12.1%
2013 3.51% -0.3%
2012 2.87% 0.6%
2011 5.83% 8%
2010 5.34% 9.4%
2009 5.06% 15.9%
2008 9.87% 25.2%
2007 4.17% 12.8%
2006 2.21% 9.1%
2005 0.48% 13.5%
2004 0.52% 9%
2003 0.61% 5.2%
2002 0.25% 0.8%
2001 -1.12% 12%
2000 -1.12% 28.2%
1999 -1.33% 22.7%
1998 -0.37% 10.6%
1997 0.06% 15.9%

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/ukraine | CC BY

Over the past 28 years, Saudi Arabia has recorded an average annual inflation rate of 1.99%, compared with 12.8% in Ukraine. In 2024, inflation was 1.69% in Saudi Arabia and 6.5% in Ukraine.

Top exports between countries

Saudi Arabia
Export category Export value
Animal & marine products $4.98M
Machinery & equipment $1.38M
Chemicals & pharma $728K
Miscellaneous $391K
Textiles & consumer goods $379K
Raw materials & minerals $358K
Wood & paper products $139K
Processed food, beverages & tobacco $130K
Metals $32K
Ukraine
Export category Export value
Animal & marine products $158M
Processed food, beverages & tobacco $153M
Metals $41.9M
Raw agricultural goods $39.1M
Miscellaneous $12.9M
Machinery & equipment $7.83M
Textiles & consumer goods $2.03M
Chemicals & pharma $631K
Raw materials & minerals $467K
Wood & paper products $417K

Balance of trade

Saudi Arabia Ukraine
Current account balance
-$16.3B
2024
-$15.1B
2024
Current account balance ranking
180/190
2024
179/190
2024
Current account balance, % of GDP
-1.31%
2024
-7.94%
2024
Goods imports
$214B
2024
$72.3B
2024
Goods exports
$306B
2024
$39.3B
2024
Service imports
$125B
2024
$22.9B
2024
Service exports
$62.8B
2024
$17.3B
2024
Imports of goods and services, % of GDP
25.6%
2024
48.3%
2024
Exports of goods and services, % of GDP
29.1%
2024
29.4%
2024

Economic freedom indices

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

Saudi Arabia Ukraine
Economic freedom 65.4 54.1
Economic freedom ranking 65/197 135/197
Property rights 51.4 21.6
Government integrity 52.7 35
Judicial effectiveness 38.2 28.2
Tax burden 99.2 83.7
Government spending 77 0
Fiscal health 97.9 3.9
Business freedom 71.2 57.4
Labor freedom 41.8 46.9
Monetary freedom 81.2 65.7
Trade freedom 73.8 73
Investment freedom 50 35
Financial freedom 50 30

Economic freedom comparison by year

Saudi Arabia
Ukraine
1x
Year Economic freedom index
Saudi Arabia Ukraine
2026 65.4 -
2025 64.4 -
2024 61.9 -
2023 58.3 -
2022 55.5 54.1
2021 66 56.2
2020 62.4 54.9
2019 60.7 52.3
2018 59.6 51.9
2017 64.4 48.1
2016 62.1 46.8
2015 62.1 46.9
2014 62.2 49.3
2013 60.6 46.3
2012 62.5 46.1
2011 66.2 45.8
2010 64.1 46.4
2009 64.3 48.8
2008 62.5 51
2007 60.9 51.5
2006 63 54.4
2005 63 55.8
2004 60.4 53.7
2003 63.2 51.1
2002 65.3 48.2
2001 62.2 48.5
2000 66.5 47.8
1999 65.5 43.7
1998 69.3 40.4
1997 68.7 43.5
1996 68.3 40.6
1995 - 39.9

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

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

The Economic Freedom Index for Saudi Arabia is 65.4, ranking 65/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Saudi Arabia Ukraine
Services, % of GDP
47.1%
2024
60.6%
2024
Industry, % of GDP
44.9%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
2.54%
2024
7.11%
2024
GNI, Atlas method
$1.26T
2024
$184B
2024
GNI per capita, PPP
$71,730
2024
$18,560
2024
Total reserves including gold
$464B
2024
$43.8B
2024
Total reserves ranking
7/177
2024
46/177
2024
Net foreign direct investment
$6.27B
2024
-$3.71B
2024
Net inflows of foreign direct investment
$21.3B
2024
$4.02B
2024
Net outflows of foreign direct investment
$27.6B
2024
$305M
2024
Servicing debt to the IMF, % of GNI n/a
5.42%
2024
Poverty at national poverty lines n/a
23.2%
2020
Gross capital formation, % of GDP
30.2%
2024
18.6%
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/ukraine | 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 (2021–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1995–1996, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.