Saudi Arabia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Saudi Arabia is the world's largest petroleum exporter. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): China, United Arab Emirates, and United States |
| Top Industries Source: CIA World Factbook | Crude Oil Production; Petroleum Refining; Basic Petrochemicals; Ammonia |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $1,751,177,858,647 (2021) |
| GDP Growth Rate (annual %) | 3.241% (2021) |
| GDP Per Capita, PPP (current international) | $48,711 (2021) |
GDP Country Rank 17/197 (2021)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 3.063% (2021) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 15.7% (2019) |
| Real Interest Rate (5 year average %) | Data unavailable |
| Manufacturing, value added (% of GDP) | 13.055% (2021) |
| Current Account Balance (BoP, current US$) | $44,323,517,249 (2021) |
Labor and Employment [1]
| Labor Force, Total | 16,059,717 (2021) |
| Employment in Agriculture (% of total employment) | 2.309% (2020) |
| Employment in Industry (% of total employment) | 24.794% (2020) |
| Employment in Services (% of total employment) | 72.897% (2020) |
| Unemployment Rate | 7.358% (2021) |
Trade [1]
| Imports of goods and services (current US$) | $202,945,018,593 (2021) |
| Exports of goods and services (current US$) | $289,815,259,051 (2021) |
| Total Merchandise Trade (% of GDP) | 51.471% (2021) |
| FDI, net inflows (BoP, current US$) | $19,285,643,585 (2021) |
| Commercial Service Exports (current US$) | $9,701,566,398 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Saudi Arabia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.