Saudi Arabia GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Saudi Arabia's GDP changed from approximately $164B 540M in 1980 to $1T 106B in 2024, showing an overall 572.2% sharply increased during the period.
The lowest GDP was recorded in 1987 at $85B 582M, and the highest in 2022 at $1T 108B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.4%.
For comparison, the average annual growth rate of Iran was 3.7%, and that of Qatar was 8.5%.

Overview of Saudi Arabia's GDP (1980–2024)

The Gross Domestic Product (GDP) of Saudi Arabia recorded a 572.2% sharply increased from 1980 to 2024.
The average GDP during this period was $396B 467M, and the median was $189B 605M.
GDP fluctuated within a range of $1T 22B, with a standard deviation of $321B 513M.
The average annual change was $22B 260M.


Saudi Arabia GDP from 1980 to 2024

The total market value of goods and services produced annually in Saudi Arabia.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1987, $85B 582M
    • Highest GDP: 2022, $1T 108B
    • Most Recent GDP: 2024, $1T 106B

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2020: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Saudi Arabia's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $838B 564M → $734B 271M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $415B 687M → $429B 97M
    • Outcome: increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $189B 514M → $184B 137M
    • Outcome: declined

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $165B 742M → $146B 775M
    • Outcome: sharply declined

    Key Economic Indicators of Saudi Arabia (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 164B 540M
    $ 19,543.40
    $ 49,608.63
    $ 417B 665M
    5.653 %
    25.224 %
    46.13 %
    0 %
    8M 419K people
    1981
    $ 184B 292M
    $ 20,846.23
    $ 52,718.91
    $ 466B 64M
    1.943 %
    21.503 %
    42.58 %
    0 %
    8M 841K people
    1982
    $ 153B 240M
    $ 16,507.69
    $ 42,257.89
    $ 392B 279M
    -20.73 %
    4.944 %
    25.66 %
    0 %
    9M 283K people
    1983
    $ 129B 180M
    $ 13,252.61
    $ 35,107.10
    $ 342B 208M
    -16.051 %
    -13.045 %
    8.75 %
    0 %
    9M 748K people
    1984
    $ 119B 631M
    $ 11,687.98
    $ 33,025.84
    $ 338B 31M
    -4.661 %
    -15.381 %
    12.16 %
    0 %
    10M 235K people
    1985
    $ 103B 894M
    $ 9,666.72
    $ 29,268.44
    $ 314B 565M
    -9.794 %
    -12.447 %
    5.01 %
    0 %
    10M 748K people
    1986
    $ 86B 886M
    $ 7,698.92
    $ 33,272.21
    $ 375B 492M
    17.013 %
    -13.564 %
    3.15 %
    0 %
    11M 285K people
    1987
    $ 85B 582M
    $ 7,221.94
    $ 30,317.98
    $ 359B 276M
    -6.632 %
    -11.404 %
    4.90 %
    0 %
    11M 850K people
    1988
    $ 88B 138M
    $ 7,083.16
    $ 33,809.76
    $ 420B 705M
    13.109 %
    -8.317 %
    12.48 %
    0 %
    12M 443K people
    1989
    $ 95B 217M
    $ 7,287.35
    $ 33,292.68
    $ 435B 3M
    -0.503 %
    -10.004 %
    9.44 %
    0 %
    13M 66K people
    1990
    $ 117B 474M
    $ 8,562.26
    $ 37,890.01
    $ 519B 847M
    15.193 %
    -3.53 %
    12.15 %
    0 %
    13M 720K people
    1991
    $ 132B 47M
    $ 9,143.22
    $ 42,797.93
    $ 618B 89M
    15.008 %
    -20.833 %
    −0.85 %
    -4.371 %
    14M 442K people
    1992
    $ 136B 905M
    $ 9,242.61
    $ 44,380.76
    $ 657B 383M
    3.987 %
    -12.941 %
    10.02 %
    -7.77 %
    14M 812K people
    1993
    $ 132B 789M
    $ 8,740.69
    $ 43,692.71
    $ 663B 786M
    -1.364 %
    -12.987 %
    12.07 %
    -8.608 %
    15M 192K people
    1994
    $ 134B 994M
    $ 8,663.64
    $ 43,753.22
    $ 681B 749M
    0.559 %
    -7.758 %
    12.60 %
    -6.996 %
    15M 582K people
    1995
    $ 143B 151M
    $ 8,957.46
    $ 43,646.07
    $ 697B 518M
    0.212 %
    -3.715 %
    16.57 %
    -2.781 %
    15M 981K people
    1996
    $ 158B 450M
    $ 9,666.92
    $ 44,476.95
    $ 729B 22M
    2.637 %
    0.429 %
    19 %
    -0.6 %
    16M 390K people
    1997
    $ 165B 742M
    $ 9,858.95
    $ 44,599.71
    $ 749B 778M
    1.104 %
    0.184 %
    18.96 %
    0.152 %
    16M 811K people
    1998
    $ 146B 775M
    $ 8,512.49
    $ 45,245.79
    $ 780B 143M
    2.893 %
    -8.947 %
    14 %
    -7.494 %
    17M 242K people
    1999
    $ 161B 717M
    $ 9,144.56
    $ 43,055.24
    $ 761B 408M
    -3.763 %
    0.254 %
    21.77 %
    -3.142 %
    17M 684K people