GDP of Saudi Arabia 2021

The timeline shows the gross domestic product of Saudi Arabia from 1984 to 2019, with projections up until 2021. In 2019, Saudi Arabia's gross domestic product (GDP) amounted to approximately 1,900.89 billion international dollars.

Saudi Arabia's oil and economy

The gross domestic product of Saudi Arabia is predicted to fall below previous values from 2015 on. This is likely due to falling crude oil prices in the region, which are almost half of what they were in 2014. As the country is home to the second largest share of oil reserves in the world and among the countries with the largest percentage of proved natural gas reserves the economy has become largely dependent on income from these resources and changing market prices directly affect the economy.

Due to falling prices, the ratio of government expenditure in Saudi Arabia in relation to GDP has increased by almost 8 percent compared to previous years, leaving the country with a budget deficit and increasing national debt, as Saudi Arabia tries to make up for the losses to its largely oil-based economy. If oil and gas prices remain low, Saudi Arabia will need to reduce its capital spending. However, it is unlikely that gas and oil prices will remain low for a considerable amount of time and in the meantime, other counties are enjoying slumps in gasoline prices at the pump.

Saudi Arabia: Gross domestic product from 1984 to 2021

Exclusive Premium statistic

You need a Single Account for unlimited access.

  • Full access to 1m statistics

  • Incl. source references

  • Available to download in PNG, PDF, XLS format

Single Account

$39 $59 per month *
in the first 12 months
33% Discount until June 30th
*Duration: 12 months, billed annually, single license

Access to this and all other statistics on 80,000 topics from

$468 / Year
$708 / Year

Show detailed source information?
Register for free
Already a member?
Log in
Source

Release date

April 2020

Region

Saudi Arabia

Survey time period

1984 to 2019

Supplementary notes

According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021.

*Estimates.

Figures have been rounded.

Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account.

Single Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract; Prices do not include sales tax.

Statistics on "Saudi Arabia"

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.