Exports in Saudi Arabia
The Saudi Arabian economy recorded an average exports growth rate of 1.4% in the decade to 2022. In 2022, exports growth was 17.8%. For more exports information, visit our dedicated page.
Saudi Arabia Exports Chart
Note: This chart displays Exports (G&S, ann. var. %) for Saudi Arabia from 2014 to 2024.
Source: Macrobond.
Saudi Arabia Exports Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Exports (G&S, ann. var. %) | -9.9 | 1.8 | 19.5 | -7.0 | 3.7 |
Economy records slowest increase since Q2 2024 in Q1
GDP reading: According to a preliminary estimate from the General Authority for Statistics, annual GDP growth slowed to 2.7% in the first quarter, down from 4.4% in the fourth quarter of last year and marking the softest growth since Q2 2024. The print came in below market expectations. Conversely, on a seasonally adjusted quarter-on-quarter basis, economic growth improved to 0.9% in Q1, following the previous quarter's 0.8% increase and marking the fastest expansion in a year. The statistical office also revised past GDP data, citing a methodological change aimed at aligning more with international data quality standards.
Drivers: As has been the case since early 2023, annual GDP growth was driven by government activities and the non-oil private sector—despite the latter slowing from the prior quarter—which likely continued to be boosted by the government’s diversification agenda. In contrast, the oil sector shrank.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Saudi Arabian exports projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exports forecast available for Saudi Arabian exports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Saudi Arabian exports projections.
Want to get access to the full dataset of Saudi Arabian exports forecasts? Send an email to info@focus-economics.com.
Latest Global GDP News
-
United Kingdom: GDP growth records best result since Q1 2024 in the first quarter Underlying picture less positive than headline reading: GDP growth improved to 0.7% on a seasonally adjusted quarter on quarter basis... -
Bulgaria: GDP growth edges down in the first quarter but remains robust by regional standards GDP reading: According to a preliminary reading, GDP growth waned to 3.1% year on year in the first quarter from... -
Colombia: Economy expands at the fastest pace in over two years in Q1 Faster-than-expected expansion remains below trend: The economy started the year with a spring in its step, with GDP growth accelerating... -
Kazakhstan: Economy posts best first-quarter reading in over a decade in Q1 GDP growth flies past trend: The economy rallied at the outset of 2025, expanding 5.6% in the first quarter and... -
Hong Kong: Economy records fastest growth since Q4 2023 in the first quarter GDP reading: GDP growth sped up to 3.1% year on year in the first quarter from 2.5% in the fourth... -
Portugal: Growth eludes the Portuguese economy in Q1 Portugal’s economy switches to be the Euro area’s worst performer: According to a preliminary reading, the economy lost its footing... -
Canada: Economic activity drops in February GDP reading: GDP slid 0.2% in month-on-month seasonally adjusted terms in February, which contrasted January’s 0.4% increase. February’s figure was...