Saudi Arabia GDP
GDP growth declines in Q1
GDP growth moderated to 3.8% year on year in the first quarter, from 5.5% in the fourth quarter of last year. Q1’s reading marked the softest growth since Q2 2021.
Private consumption growth rose to 3.9% year on year in Q1 from a 3.7% expansion in Q4. Public consumption growth came in at 16.2% (Q4 2022: +5.7% yoy). Fixed investment growth fell to 17.6% in Q1 (Q4 2022: +20.6% yoy).
On the external front, exports of goods and services growth moderated to 2.0% in Q1 (Q4 2022: +3.5% yoy). Meanwhile, imports of goods and services growth rose to 11.2% (Q4 2022: +2.3% yoy).
Saudi Arabia GDP Chart
This chart displays Economic Growth (GDP, annual variation in %) for Saudi Arabia from 2013 to 2022.
Saudi Arabia GDP Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 2.8 | 0.8 | -4.3 | 3.9 | 8.7 |
| GDP (USD bn) | 846 | 838 | 734 | 868 | 1,107 |
| GDP (SAR bn) | 3,175 | 3,145 | 2,754 | 3,257 | 4,156 |
| Economic Growth (Nominal GDP, ann. var. %) | 18.4 | -0.9 | -12.4 | 18.3 | 27.6 |
| Economic Growth (GDP non-Oil, ann. var. %) | -0.9 | 3.5 | -3.0 | 5.7 | 4.8 |
| Economic Growth (GDP Oil, ann. var. %) | 2.3 | -3.3 | -6.7 | 0.2 | 15.4 |