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Economy of Saudi Arabia vs Zambia compared: GDP & Debt

Updated on by Georank team

Saudi Arabia has a GDP of $1.24T compared to $25.3B for Zambia, ranking 18/197 and 116/197 by economy size, respectively.

Saudi Arabia has $324B in government debt (26.2% of GDP), compared to $29.1B (114.9% of GDP) in Zambia.

Saudi Arabia vs Zambia GDP by year

Saudi Arabia
Zambia
1x
Year GDP, current $
Saudi Arabia Zambia
2024 $1,239,804,533,333 $25,303,185,342
2023 $1,218,584,533,333 $27,577,956,471
2022 $1,239,075,200,000 $29,163,782,140
2021 $982,661,066,667 $22,096,416,932
2020 $767,951,200,000 $18,137,764,931
2019 $888,890,133,333 $23,308,667,781
2018 $886,564,800,000 $26,311,507,274
2017 $741,266,133,333 $25,873,601,261
2016 $689,279,466,667 $20,958,412,538
2015 $693,414,400,000 $21,251,216,799
2014 $787,153,066,667 $27,141,023,558
2013 $769,755,733,333 $28,037,239,463
2012 $751,921,333,333 $25,503,060,420
2011 $680,660,800,000 $23,459,515,276
2010 $528,207,466,667 $20,265,559,484
2009 $429,097,866,667 $15,328,342,304
2008 $519,796,800,000 $17,910,858,638
2007 $415,964,509,673 $14,056,957,976
2006 $376,900,133,511 $12,756,858,899
2005 $328,459,608,764 $8,331,870,169
2004 $258,742,133,333 $6,221,110,219
2003 $215,807,733,333 $4,901,869,764
2002 $189,605,866,667 $4,193,850,445
2001 $184,137,600,000 $4,094,441,301
2000 $189,514,933,333 $3,600,632,111
1999 $161,717,066,667 $3,404,284,891
1998 $146,775,466,667 $3,537,741,942
1997 $165,963,684,913 $4,303,288,480
1996 $158,662,483,311 $3,597,220,962
1995 $143,343,124,166 $3,806,983,413
1994 $135,174,899,866 $3,656,806,166
1993 $132,967,957,276 $3,273,505,344
1992 $137,087,850,467 $3,182,810,841
1991 $132,223,230,975 $3,376,806,697
1990 $117,630,173,565 $3,288,381,797
1989 $95,344,459,279 $3,994,673,161
1988 $88,256,074,766 $3,728,878,149
1987 $85,695,861,148 $2,265,250,972
1986 $86,961,922,765 $1,664,413,508
1985 $103,897,846,494 $2,252,454,500
1984 $119,624,858,116 $2,719,518,933
1983 $129,171,635,311 $3,321,048,451
1982 $153,240,313,858 $3,871,117,093
1981 $184,291,360,139 $4,008,126,497
1980 $164,539,660,725 $3,884,530,854
1979 $111,858,444,786 $3,353,445,378
1978 $80,266,516,687 $2,811,032,473
1977 $74,188,986,586 $2,515,296,940
1976 $64,005,665,722 $2,742,859,263
1975 $46,773,208,643 $2,442,672,141
1974 $45,412,957,746 $2,910,981,262
1973 $14,947,435,499 $2,434,255,237
1972 $9,664,267,087 $1,872,416,680
1971 $7,184,806,909 $1,653,259,341
1970 $5,377,333,333 $1,788,779,285
1969 $4,485,777,644 $1,926,399,230
1968 $4,187,777,711 $1,573,739,371
1967 $3,257,022,223 $1,340,639,464
1966 $2,920,555,557 $1,238,999,505
1965 $2,647,955,558 $1,061,199,576
1964 $2,371,808,713 $822,639,671
1963 $2,207,393,172 $704,339,719
1962 $2,130,606,532 $679,279,729
1961 $1,920,811,284 $682,359,727
1960 $1,748,124,064 $698,739,721

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

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

GDP per capita in Saudi Arabia vs Zambia by year

Saudi Arabia
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Saudi Arabia Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $35,122 $71,375 $1,187 $4,215
2023 $36,157 $71,565 $1,331 $4,077
2022 $38,510 $71,968 $1,447 $3,841
2021 $31,921 $62,690 $1,127 $3,503
2020 $24,339 $47,518 $952 $3,157
2019 $29,567 $59,560 $1,259 $3,361
2018 $29,360 $59,378 $1,464 $3,442
2017 $23,929 $53,120 $1,483 $3,392
2016 $22,268 $49,937 $1,239 $3,313
2015 $23,256 $53,931 $1,296 $3,337
2014 $27,805 $62,578 $1,707 $3,441
2013 $27,865 $62,203 $1,821 $3,477
2012 $28,733 $65,034 $1,710 $3,324
2011 $27,127 $64,125 $1,625 $3,228
2010 $22,028 $58,829 $1,451 $3,098
2009 $17,718 $54,787 $1,136 $2,872
2008 $22,320 $57,236 $1,376 $2,708
2007 $18,596 $55,030 $1,119 $2,555
2006 $17,564 $54,639 $1,052 $2,378
2005 $15,976 $53,548 $711 $2,213
2004 $13,154 $51,225 $549 $2,068
2003 $11,487 $48,078 $446 $1,942
2002 $10,586 $45,466 $394 $1,837
2001 $10,805 $47,381 $397 $1,785
2000 $11,715 $48,644 $359 $1,709
1999 $10,452 $47,495 $350 $1,654
1998 $9,836 $48,867 $373 $1,601
1997 $11,545 $48,796 $466 $1,631
1996 $11,472 $48,569 $400 $1,585
1995 $10,786 $48,052 $433 $1,501
1994 $10,602 $48,904 $426 $1,464
1993 $10,885 $49,503 $391 $1,607
1992 $11,730 $50,355 $389 $1,505
1991 $11,847 $49,295 $423 $1,534
1990 $11,055 $46,214 $422 $1,522
1989 $9,414 - $526 -
1988 $9,165 - $504 -
1987 $9,386 - $315 -
1986 $10,078 - $238.2 -
1985 $12,745 - $332 -
1984 $15,541 - $413 -
1983 $17,810 - $520 -
1982 $22,454 - $627 -
1981 $28,703 - $670 -
1980 $27,206 - $669 -
1979 $19,612 - $595 -
1978 $14,914 - $514 -
1977 $14,595 - $474 -
1976 $13,313 - $533 -
1975 $10,266 - $490 -
1974 $10,503 - $601 -
1973 $3,640 - $518 -
1972 $2,474 - $410 -
1971 $1,929 - $372 -
1970 $1,509 - $414 -
1969 $1,313 - $459 -
1968 $1,276 - $387 -
1967 $1,032 - $341 -
1966 $961 - $325 -
1965 $904 - $287.4 -
1964 $840 - $230 -
1963 $812 - $203.2 -
1962 $813 - $202.3 -
1961 $760 - $209.7 -
1960 $718 - $221.6 -

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

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

Saudi Arabia's GDP per capita is $35,122, ranking 33/197, compared to $1,187 in Zambia, ranking 169/197. Adjusted for purchasing power (GDP per capita PPP), Saudi Arabia ranks 24th at $71,375, while Zambia ranks 166th at $4,215.

Economic indicators

Saudi Arabia Zambia
Gross domestic product
$1.24T
2024
$25.3B
2024
GDP rank
18/197
2024
116/197
2024
GDP growth
2%
2023-2024
3.82%
2023-2024
GDP per capita
$35,122
2024
$1,187
2024
GDP per capita rank
33/197
2024
169/197
2024
GDP per capita, PPP
$71,375
2024
$4,215
2024
GDP per capita PPP rank
24/197
2024
166/197
2024
Government debt
$324B
2024
$29.1B
2024
Debt-to-GDP ratio
26.2%
2024
114.9%
2024
Government debt per person
$9,185
2024
$1,365
2024
Government debt per person rank
58/185
2024
134/185
2024
Average annual personal income after taxes
$23,076
2026
$1,349
2026
Market capitalization of domestic companies
$2.73T
2024
$7.77B
2024
Number of millionaires
351,855
2025
n/a
Number of billionaires
15
2025
n/a
Income share by richest 10% n/a
39.1%
2022
Income share by poorest 10% n/a
1.5%
2022
Government expenditure, % of GDP
29.6%
2024
25.5%
2024
Consumer prices inflation
1.69%
2023-2024
15%
2023-2024
Central bank interest rate
4.25%
2025
14.3%
2025
Unemployment rate
3.52%
2024
5.86%
2023
Population
36734925
22697916

Spending and national debt comparison by year

Saudi Arabia
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Saudi Arabia Zambia
Government spending Government debt Government spending Government debt
2024 29.6% 26.2% 25.5% 114.9%
2023 28.3% 23% 27.4% 129.1%
2022 25.3% 21.3% 28.2% 99.5%
2021 28.2% 25.5% 30.5% 111%
2020 37.4% 29.7% 34% 140%
2019 31.8% 20.3% 29.8% 103.3%
2018 32.4% 16.8% 27.7% 81.2%
2017 30.9% 15.9% 25% 66.6%
2016 33.3% 12.2% 23.9% 61.2%
2015 38.5% 5.47% 27.6% 61.9%
2014 38.6% 1.5% 24.3% 33.9%
2013 34.5% 2.08% 24% 25.9%
2012 32.5% 2.97% 21.9% 24.9%
2011 32.4% 5.31% 19.5% 20.8%
2010 33% 8.43% 18.1% 18.9%
2009 37.1% 14% 17.8% 20.5%
2008 26.7% 12.1% 19.5% 19.2%
2007 29.5% 17.1% 19.9% 21.9%
2006 27.3% 25.8% 19.7% 25%
2005 28.2% 37.3% 22.5% 75.7%
2004 31.1% 62.9% 23.3% 129.9%
2003 33.1% 81.6% 27.3% 159.5%
2002 35.9% 96.4% 27.6% 180.2%
2001 36.9% 93.1% 28% 210.2%
2000 33.1% 86.7% 21.4% 261%
1999 30.3% 103% - -
1998 34.5% 101.5% - -
1997 35.6% 76.7% - -
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/zambia | CC BY

In 2024, Saudi Arabia's government spending was $367B, accounting for 29.6% of its GDP, while Zambia spent $6.45B, or 25.5% of GDP.

Debt-to-GDP ratio is 26.2% in Saudi Arabia and 114.9% in Zambia, ranking 163/185 and 13/185, respectively.

Government deficit by year

Deficit/surplus
Saudi Arabia

Zambia
1x
Year Deficit/surplus, % of GDP
Saudi Arabia Zambia
2024 -2.49% -3.32%
2023 -1.77% -5.48%
2022 2.24% -7.82%
2021 -1.99% -8.13%
2020 -10.2% -13.8%
2019 -3.96% -9.41%
2018 -5.21% -8.31%
2017 -8.57% -7.5%
2016 -13.2% -5.69%
2015 -14.9% -8.88%
2014 -3.4% -5.43%
2013 5.47% -6.4%
2012 11.7% -3.16%
2011 11.4% -1.78%
2010 4.39% -2.43%
2009 -5.38% -2.06%
2008 29.8% -0.67%
2007 11.8% -1.04%
2006 20.8% 16.9%
2005 18% -2.37%
2004 9.72% -2.51%
2003 1.2% -5.31%
2002 -5.91% -4.5%
2001 -3.91% -5.89%
2000 3.18% 1.16%
1999 -5.99% -
1998 -8.88% -
1997 -2.51% -
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/zambia | 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 Zambia's deficit of $840M, or 3.32% of GDP.

Over the past 25 years, Saudi Arabia recorded a fiscal deficit in 13 of those years, while Zambia ran a deficit in 23 years. On average, Saudi Arabia posted an annual surplus equal to 1.95% of GDP, compared to deficit of 4.15% of GDP for Zambia.

Inflation comparison by year

Inflation
Saudi Arabia

Zambia
1x
Year Consumer prices inflation
Saudi Arabia Zambia
2024 1.69% 15%
2023 2.33% 10.9%
2022 2.47% 11%
2021 3.06% 22%
2020 3.37% 15.7%
2019 -1.19% 9.2%
2018 2.47% 7.5%
2017 -0.83% 6.6%
2016 2.05% 17.9%
2015 1.22% 10.1%
2014 2.24% 7.8%
2013 3.51% 7%
2012 2.87% 6.6%
2011 5.83% 8.7%
2010 5.34% 8.5%
2009 5.06% 13.4%
2008 9.87% 12.4%
2007 4.17% 10.7%
2006 2.21% 9%
2005 0.48% 18.3%
2004 0.52% 18%
2003 0.61% 21.4%
2002 0.25% 22.2%
2001 -1.12% 21.4%
2000 -1.12% 24.1%
1999 -1.33% 23.9%
1998 -0.37% 22.7%
1997 0.06% 21.4%

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/zambia | CC BY

Over the past 28 years, Saudi Arabia has recorded an average annual inflation rate of 1.99%, compared with 14.4% in Zambia. In 2024, inflation was 1.69% in Saudi Arabia and 15% in Zambia.

Top exports between countries

Saudi Arabia
Export category Export value
Chemicals & pharma $2.38M
Processed food, beverages & tobacco $1.95M
Raw agricultural goods $161K
Textiles & consumer goods $107K
Metals $38K
Machinery & equipment $16K
Miscellaneous $13K
Wood & paper products $1K
Zambia
Export category Export value
Machinery & equipment $844K
Metals $171K
Raw agricultural goods $98K
Raw materials & minerals $60K
Chemicals & pharma $26K
Textiles & consumer goods $5K

Balance of trade

Saudi Arabia Zambia
Current account balance
-$16.3B
2024
-$487M
2024
Current account balance ranking
180/190
2024
106/190
2024
Current account balance, % of GDP
-1.31%
2024
-1.93%
2024
Goods imports
$214B
2024
$10.1B
2024
Goods exports
$306B
2024
$11.4B
2024
Service imports
$125B
2024
$1.94B
2024
Service exports
$62.8B
2024
$1.38B
2024
Imports of goods and services, % of GDP
25.6%
2024
27.6%
2024
Exports of goods and services, % of GDP
29.1%
2024
35%
2024

Economic freedom indices

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

Saudi Arabia Zambia
Economic freedom 65.4 51.9
Economic freedom ranking 65/197 152/197
Property rights 51.4 43.9
Government integrity 52.7 39.3
Judicial effectiveness 38.2 45
Tax burden 99.2 74.3
Government spending 77 78.1
Fiscal health 97.9 30.9
Business freedom 71.2 53.4
Labor freedom 41.8 48.8
Monetary freedom 81.2 66.6
Trade freedom 73.8 62.8
Investment freedom 50 40
Financial freedom 50 40

Economic freedom comparison by year

Saudi Arabia
Zambia
1x
Year Economic freedom index
Saudi Arabia Zambia
2026 65.4 51.9
2025 64.4 50.9
2024 61.9 48.4
2023 58.3 47.8
2022 55.5 48.7
2021 66 50.4
2020 62.4 53.5
2019 60.7 53.6
2018 59.6 54.3
2017 64.4 55.8
2016 62.1 58.8
2015 62.1 58.7
2014 62.2 60.4
2013 60.6 58.7
2012 62.5 58.3
2011 66.2 59.7
2010 64.1 58
2009 64.3 56.6
2008 62.5 56.2
2007 60.9 56.2
2006 63 56.8
2005 63 55
2004 60.4 54.9
2003 63.2 55.3
2002 65.3 59.6
2001 62.2 59.5
2000 66.5 62.8
1999 65.5 64.2
1998 69.3 62.7
1997 68.7 62.1
1996 68.3 59.6
1995 - 55.1

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

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

The Economic Freedom Index for Saudi Arabia is 65.4, ranking 65/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Saudi Arabia Zambia
Services, % of GDP
47.1%
2024
57.2%
2024
Industry, % of GDP
44.9%
2024
35.2%
2024
Agriculture, forestry, and fishing, % of GDP
2.54%
2024
2.83%
2024
GNI, Atlas method
$1.26T
2024
$25.9B
2024
GNI per capita, PPP
$71,730
2024
$3,850
2024
Total reserves including gold
$464B
2024
$4.09B
2024
Total reserves ranking
7/177
2024
106/177
2024
Net foreign direct investment
$6.27B
2024
-$1.32B
2024
Net inflows of foreign direct investment
$21.3B
2024
$2.36B
2024
Net outflows of foreign direct investment
$27.6B
2024
$311M
2024
Servicing debt to the IMF, % of GNI n/a
16.9%
2024
Poverty at national poverty lines n/a
60%
2022
Gross capital formation, % of GDP
30.2%
2024
23.8%
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/zambia | 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 (2020–2024, 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.