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The economy of Saudi Arabia is the second-largest in the Middle East and the nineteenth-largest in the world. The Saudi economy is highly reliant on its petroleum sector. Oil accounts on average in recent years for approximately 40% of Saudi GDP and 75% of fiscal revenue, with substantial fluctuations depending on oil prices each year.
Apr 14, 2022 · After registering a stronger-than-expected recovery in 2021, the Saudi Arabian economy is on an accelerated path to growth in 2022, driven by higher oil prices and non-oil activities, as oil production strengthens and pandemic pressures fade.
6 days ago · The economy of Saudi Arabia is dominated by petroleum and its associated industries. In terms of oil reserves, Saudi Arabia ranks first internationally, with about one-fifth of the world’s known reserves.
Sep 28, 2023 · Saudi Arabia’s economy is undergoing a transformation, as it implements reforms to reduce oil dependence, diversify income sources, and enhance competitiveness. This year marks an important juncture as the midpoint of Saudi Arabia’s ambitious Vision 2030 journey.
GDP (current US$) - Saudi Arabia. World Bank national accounts data, and OECD National Accounts data files. License : CC BY-4.0. LineBarMap.
The Kingdom of Saudi Arabia maintained its positive performance in 2022, driven by a resilient economy. It successfully countered external shocks, overcoming the impacts of the pandemic and
Aug 17, 2022 · Saudi Arabia is likely to be one of the world’s fastest-growing economies this year as sweeping pro-business reforms and a sharp rise in oil prices and production power recovery from a pandemic-induced recession in 2020.
According to estimates by the General Authority for Statistics (GASTAT), the real Gross Domestic Product (GDP) of Saudi Arabia grew by 6.7% in Q4/2021 compared to Q4/2020 and 1.6% compared to Q3/2021.
Saudi economy grows by 6.8% in Q3/2021 - the highest growth since 2012. Real GDP Growth on an Annual Basis. According to flash estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by 6.8% in Q3/2021, compared to Q3/2020.
According to estimates of the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by 9.9% in Q1/2022 compared to Q1/2021 (Y-o-Y) and the seasonally adjusted real GDP increased by 2.6% compared to Q4/2021 (Q-o-Q).
