Saudi Arabia GDP Annual Growth Rate 1969-2018 | Data | Chart | Calendar

The Saudi Arabian economy shrank 0.43% yoy in Q3 2017, after a 1% decline in Q2. Output continued to decline for mining and quarrying (-4.8% from -2.4% in Q2), namely crude and natural gas (-4.8% from -2.5% in Q2). On the other hand, output rebounded for wholesale & retail trade (2.6% from -0.1%) and rose faster for manufacturing (2.7% from 1.6%) and transport (3.5% from 0.8%). Considering full 2017, the economy contracted 0.74%, mainly due to a cut in oil production (the oil sector slumped 3% compared to a 3.6% rise in 2016), although the non-oil growth accelerated (1.01% compared to 0.2%). The kingdom aims to diversify its oil-dependent economy and already launched its Vision 2030 program that includes the creation of new cities for an economic hub and investment in new technologies including renewable energy and robotics. Also, effective from January 1st 2018, the government raised gasoline prices and introduced VAT for the first time ever. GDP Annual Growth Rate in Saudi Arabia averaged 4.24 percent from 1969 until 2017, reaching an all time high of 24.20 percent in the fourth quarter of 1973 and a record low of -20.70 percent in the fourth quarter of 1982.

Saudi Arabia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2017-06-30 02:40 PM GDP Growth Rate YoY -0.5% 2.2% 1.7%
2017-10-02 11:00 AM GDP Growth Rate YoY -1.03% -0.5% 1.9%
2018-01-02 11:00 AM GDP Growth Rate YoY -0.43% -1.03% -1.5%
2018-03-29 05:30 PM GDP Growth Rate YoY -0.43% 1%
2018-06-29 02:40 PM GDP Growth Rate YoY 1.5%
2018-10-02 11:00 AM GDP Growth Rate YoY 2.2%


Saudi Arabia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.43 -1.03 24.20 -20.70 percent [+]
GDP Annual Growth Rate -0.43 -1.03 24.20 -20.70 percent [+]
GDP 646.44 654.27 756.35 4.19 USD Billion [+]
GDP Constant Prices 637335.00 628194.00 1925394.03 476504.51 SAR Million [+]
Gross Fixed Capital Formation 122263.00 148922.00 199621.00 101572.00 SAR Million [+]
GDP per capita 21395.40 21508.00 39125.40 14253.50 USD [+]
GDP per capita PPP 50458.20 50723.70 50723.70 39194.80 USD [+]
GDP From Agriculture 15192.00 15986.00 16032.00 10354.00 SAR Million [+]
GDP From Construction 29844.00 29081.00 31972.00 21969.00 SAR Million [+]
GDP From Manufacturing 78607.00 76643.00 81393.00 53468.00 SAR Million [+]
GDP From Mining 255225.00 251630.00 266625.00 189221.00 SAR Million [+]
GDP From Transport 35576.00 37264.00 38853.00 24028.00 SAR Million [+]
GDP From Utilities 14575.00 9955.00 14575.00 3141.00 SAR Million [+]


Saudi Arabia GDP Annual Growth Rate

Saudi Arabia is the world´s biggest producer of oil and oil extraction accounts for 46 percent of GDP. The services sector represents 36 percent of the wealth. Within services the largest segments are: government services (13 percent of GDP), wholesale and retail trade and restaurants and hotels (8 percent) and financing, insurance and real estate (7.9 percent). Manufacturing constitutes 10 percent of GDP, construction and electricity, gas and water distribution - 6 percent and agriculture, forestry and fishing - 2 percent. This page provides the latest reported value for - Saudi Arabia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Saudi Arabia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-0.43 -1.03 24.20 -20.70 1969 - 2017 percent Quarterly




GDP annual growth rate by Country
Country Last
Turkey 11.10 Sep/17
China 6.80 Dec/17
India 6.30 Sep/17
Indonesia 5.06 Sep/17
Spain 3.10 Sep/17
Canada 3.00 Sep/17
Netherlands 3.00 Sep/17
South Korea 3.00 Dec/17
Australia 2.80 Sep/17
Germany 2.80 Sep/17
Euro Area 2.60 Sep/17
United States 2.50 Dec/17
France 2.30 Sep/17
Japan 2.10 Sep/17
Russia 1.80 Sep/17
Italy 1.70 Sep/17
Mexico 1.50 Sep/17
United Kingdom 1.50 Dec/17
Brazil 1.40 Sep/17
Switzerland 1.20 Sep/17


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