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%.
Saudi Arabia GDP from 1980 to 2024
The total market value of goods and services produced annually in Saudi Arabia.
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.
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)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |