Back اقتصاد السعودية Arabic Эканоміка Саудаўскай Аравіі Byelorussian সৌদি আরবের অর্থনীতি Bengali/Bangla Economia de l'Aràbia Saudita Catalan ئابووری عەرەبستانی سعوودی CKB Ekonomika Saúdské Arábie Czech Wirtschaft Saudi-Arabiens German Economía de Arabia Saudita Spanish Saudi Arabiako ekonomia Basque اقتصاد عربستان سعودی Persian
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 Riyadh, the financial center of Saudi Arabia | |
| Currency | Saudi Riyal (SAR)[a] |
|---|---|
| Calendar year | |
Trade organisations | WTO, OPEC, and GCC |
Country group |
|
| Statistics | |
| Population |  32,175,224 (2022 census)[5] |
| GDP |  $1.138 trillion (Nominal, 2025)[6] $2.524 trillion (PPP, 2025)[6] |
| GDP rank | 19th (nominal, 2025) 17th (PPP, 2025) |
GDP growth | |
GDP per capita | $32,881 (nominal; 2024)[6] $63,118 (PPP; 2024)[6] |
GDP per capita rank | 35th (nominal, 2024) 25th (PPP, 2024) |
GDP by sector |
|
| 1.6% (2024)[8] | |
| 45.9 high (2013 est.)[7] | |
 0.875 very high (2022)[9] (40th)
| |
Labour force | 16.934 million (2023 est.)[7] 63.9% employment rate (2023)[10] |
Labour force by occupation | (2005 est.)[7]
|
| Unemployment |  4.88% (2023 est.)[7][b] |
Main industries | |
| External | |
| Exports | $370.974 billion (2023 est.)[7] |
Export goods | crude petroleum, refined petroleum, polymers, industrial alcohols, natural gas (2019)[7] |
Main export partners |
|
| Imports | $291.565 billion (2023 est.)[7] |
Import goods | machinery and equipment, chemicals, packaged medicine, motor vehicles, textiles, broadcasting equipment, telephones[7] |
Main import partners |
|
| $34.07 billion (2023 est.)[7] | |
Gross external debt |  $205.1 billion (31 December 2017 est.)[7] |
| Public finances | |
| 17.2% of GDP (2017 est.) | |
| 8.9% (of GDP) (2017 est.)[7] | |
| Revenues | 398.023 billion (2022 est.)[7] |
| Expenses | 315.007 billion (2022 est.)[7] |
 $457.949 billion (2023)[7] (7th) | |
All values, unless otherwise stated, are in US dollars. | |
The economy of Saudi Arabia 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.[11]
The kingdom has the second-largest proven petroleum reserves,[12] and the fourth-largest measured natural gas reserves.[13] Saudi Arabia is currently the largest exporter of petroleum in the world.[14] Other major parts of the economy include refining and chemical manufacturing from the oil reserves, much of which is vertically integrated in the state-owned enterprise, Saudi Aramco. Saudi Arabia is a permanent and founding member of OPEC.
In 2016, the Saudi government launched its Saudi Vision 2030 program to reduce its dependency on oil and diversify its economic resources.[15] By 2022, Saudi Arabia had only modestly reduced its dependence on oil.[11]
Monetary policy in Saudi Arabia is anchored by the fixed exchange rate of the Saudi Riyal to the U.S. Dollar.[16]
- ^ Strohecker, Karin (27 April 2016). "Saudi riyal peg pressure eases, but not gone". reuters.com. Reuters. Retrieved 30 September 2023.
- ^ Kirkland, Stephen (5 January 2016). "Saudi Riyal Peg Not Sustainable Amid Oil Slide, Commerzbank Says". bloomberg.com. Bloomberg L.P. Retrieved 30 September 2023.
- ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Archived from the original on 22 December 2019. Retrieved 29 September 2019.
- ^ "World Bank Country and Lending Groups". World Bank. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
- ^ "GASTAT Portal". portal.saudicensus.sa. Retrieved 11 December 2023.
- ^ a b c d e f g "World Economic Outlook Database, October 2024 Edition. (SA)". IMF.org. International Monetary Fund. 10 April 2024. Retrieved 2 May 2024.
- ^ a b c d e f g h i j k l m n o p q r "Middle East: Saudi Arabia". cia.gov. Central Intelligence Agency. Archived from the original on 19 March 2021. Retrieved 5 March 2020.
- ^ Consumer Price Index, March 2024
- ^ "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 15 June 2024.
- ^ "Employment to population ratio, 15+, total (%) (national estimate) – Saudi Arabia". data.worldbank.org. World Bank. Archived from the original on 31 July 2020. Retrieved 5 March 2020.
- ^ a b International Monetary Fund Middle East and Central Asia Dept. (17 August 2022). Saudi Arabia: Selected Issues (Report). Vol. 2022. IMF Staff Country Reports. doi:10.5089/9798400217548.002.A001 (inactive 1 November 2024).
{{cite report}}: CS1 maint: DOI inactive as of November 2024 (link) - ^ "The World's Largest Oil Reserves By Country". WorldAtlas. Archived from the original on 9 May 2019. Retrieved 12 December 2018.
- ^ "Country Analysis Executive Summary: Saudi Arabia". eia.gov. Archived from the original on 13 July 2022. Retrieved 19 July 2022.
- ^ Workman, Daniel (30 November 2018). "Crude Oil Exports by Country". World's Top Exports. Archived from the original on 9 December 2018. Retrieved 12 December 2018.
- ^ International Monetary Fund Middle East and Central Asia Dept. (17 August 2022). Saudi Arabia: Selected Issues (Report). Vol. 2022. IMF Staff Country Reports. doi:10.5089/9798400217548.002.A003 (inactive 1 November 2024).
{{cite report}}: CS1 maint: DOI inactive as of November 2024 (link) - ^ International Monetary Fund Middle East and Central Asia Dept. (17 August 2022). Saudi Arabia: Selected Issues (Report). Vol. 2022. IMF Staff Country Reports. doi:10.5089/9798400217548.002.A002 (inactive 1 November 2024).
{{cite report}}: CS1 maint: DOI inactive as of November 2024 (link)
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