GDP per capita in Saudi Arabia
Saudi Arabia - GDP per capita (U.S. Dollars)
GDP accelerates to a fresh over-decade high in Q2
A flash estimate showed that the economy grew 11.8% on an annual basis in Q2—the fastest pace since 2011—thereby confirming the economy continued to grow at breakneck speed after expanding 9.9% in Q1.
The improved performance was due to a stronger expansion in the oil sector, which grew 23.1% in Q2 compared to 20.3% in Q1. Growth in the non-oil private sector edged up to 5.4% in Q2 from 4.5% in Q1, while non-oil government activity growth slowed to 2.2% in Q2 (Q1: 2.4%).
Q2’s acceleration was in part due to a base effect—seasonally adjusted quarter-on-quarter growth slowed to 1.8% in Q2 from 2.6% in Q1. The non-oil sector dragged on sequential growth. Nonetheless, the oil sector sped up in quarter-on-quarter terms due to rising oil production. Looking ahead, the oil sector is set to continue driving momentum. Regarding overall GDP, sequential growth is likely to remain robust in Q3, though year-on-year growth will be dented by a tougher base effect.
FocusEconomics panelists project GDP to rise 7.7% in 2022, which is up 0.3 percentage points from last month’s estimate. For 2023, panelists expect the economy to expand 3.6%.
Saudi Arabia - GDP per capita (USD) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| GDP per capita (USD) | 21,063 | 20,284 | 21,113 | 23,536 | 23,265 |
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.49 | 0.0 % | Jun 23 |
| Exchange Rate | 3.75 | 0.0 % | Dec 31 |
| Stock Market | 0.2 | 1.00 % | Jan 07 |
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Economic News
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Saudi Arabia: PMI signals another strong expansion in July
August 3, 2022
The Purchasing Managers’ Index (PMI), produced by S&P Global, came in at 56.3 in July, down from June's eight-month high of 57.0.
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Saudi Arabia: Oil prices fall in July on recession fears
August 1, 2022
The OPEC oil basket traded at USD 109.3 per barrel on average in July, down 7.3% from the prior month.
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Saudi Arabia: GDP accelerates to a fresh over-decade high in Q2
July 31, 2022
A flash estimate showed that the economy grew 11.8% on an annual basis in Q2—the fastest pace since 2011—thereby confirming the economy continued to grow at breakneck speed after expanding 9.9% in Q1. The improved performance was due to a stronger expansion in the oil sector, which grew 23.1% in Q2 compared to 20.3% in Q1.
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Saudi Arabia: Inflation comes in at highest level in a year in June
July 21, 2022
Consumer prices rose 0.23% in June over the previous month, picking up from May's 0.12% increase.
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Saudi Arabia: PMI hits highest reading since October 2021 in June
July 5, 2022
The Purchasing Managers’ Index (PMI), produced by S&P Global, came in at 57.0 in June, up from May's 55.7.
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