Saudi Arabia Real GDP Growth

2011 - 2023 | Quarterly | % | General Authority for Statistics

Key information about Saudi Arabia Real GDP Growth

  • The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.7 % YoY in Dec 2023, following a negative growth of 4.4 % in the previous quarter.
  • Real GDP Growth YoY data in Saudi Arabia is updated quarterly, available from Mar 2011 to Dec 2023, with an average rate of 2.8 %.
  • The data reached an all-time high of 14.6 % in Sep 2011 and a record low of -7.4 % in Jun 2020.
General Authority for Statistics provides quarterly Real GDP Growth at 2010 prices.


Related information about Saudi Arabia Real GDP Growth

  • In the latest reports, Nominal GDP of Saudi Arabia reached 267.9 USD bn in Mar 2023.
  • Its GDP deflator (implicit price deflator) fell 1.0 % in Mar 2023.
  • GDP Per Capita in Saudi Arabia reached 34,441.1 USD in Dec 2022.
  • Its Gross Savings Rate was measured at 37.4 % in Mar 2024.
  • For Nominal GDP contributions, Investment accounted for 30.7 % in Mar 2023.
  • Public Consumption accounted for 22.3 % in Mar 2024.
  • Private Consumption accounted for 40.3 % in Mar 2024.

View Saudi Arabia's Real GDP Growth from Mar 2011 to Dec 2023 in the chart:

Saudi Arabia Real GDP Growth

What was Saudi Arabia's Real GDP Growth in Dec 2023?

The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.7 % YoY in Dec 2023, following a negative growth of 4.4 % in the previous quarter. See the table below for more data.

Last Previous Min Max Unit Frequency Range
-3.7 Dec 2023 -4.4 Sep 2023 -7.4 Jun 2020 14.6 Sep 2011 % quarterly Mar 2011 - Dec 2023

Real GDP Growth by Country Comparison

country/region Last Frequency Range
Albania (%) 4.7 Dec 2022 quarterly Mar 2010 - Dec 2022
Algeria (%) 3.8 Mar 2024 quarterly Mar 2000 - Mar 2024
Argentina (%) 1.2 Mar 2023 quarterly Mar 2005 - Mar 2023
Armenia (%) 12.1 Mar 2023 quarterly Mar 2001 - Mar 2023
Australia (%) 2.7 Dec 2022 quarterly Sep 1960 - Dec 2022
Austria (%) 1.8 Mar 2023 quarterly Mar 1989 - Mar 2023
Azerbaijan (%) 4.0 Mar 2024 quarterly Mar 2001 - Mar 2024
Bahrain (%) 3.3 Mar 2024 quarterly Mar 2009 - Mar 2024
Bangladesh (%) 7.1 2022 yearly 2007 - 2022
Belarus (%) -2.0 Mar 2023 quarterly Mar 2006 - Mar 2023
Belgium (%) 1.9 Sep 2022 quarterly Mar 1996 - Sep 2022
Bolivia (%) 4.3 Jun 2022 quarterly Mar 1991 - Jun 2022
Bosnia and Herzegovina (%) 2.6 Sep 2022 quarterly Mar 2009 - Sep 2022
Botswana (%) 6.3 Sep 2022 quarterly Mar 1995 - Sep 2022
Brazil (%) 3.4 Mar 2023 quarterly Mar 1997 - Mar 2023
Brunei (%) 0.9 Sep 2022 quarterly Mar 2005 - Sep 2022
Bulgaria (%) 2.3 Dec 2022 quarterly Mar 1996 - Dec 2022
Cambodia (%) 5.3 2022 yearly 1994 - 2022
Canada (%) 2.1 Dec 2022 quarterly Mar 1962 - Dec 2022
Chile (%) -0.1 Sep 2022 quarterly Mar 1987 - Sep 2022
China (%) 4.5 Mar 2023 quarterly Mar 1992 - Mar 2023
Colombia (%) 2.9 Dec 2022 quarterly Mar 2001 - Dec 2022
Croatia (%) 4.0 Dec 2022 quarterly Mar 1996 - Dec 2022
Cyprus (%) 3.4 Mar 2023 quarterly Mar 1996 - Mar 2023
Czech Republic (%) 0.2 Dec 2022 quarterly Mar 1996 - Dec 2022
Denmark (%) 1.5 Dec 2022 quarterly Mar 1992 - Dec 2022
Ecuador (%) 3.2 Sep 2022 quarterly Mar 1994 - Sep 2022
Egypt (%) 4.4 Sep 2022 quarterly Sep 2002 - Sep 2022
Estonia (%) -4.4 Dec 2022 quarterly Mar 1996 - Dec 2022
European Union (%) 1.3 Mar 2023 quarterly Mar 1996 - Mar 2023
Finland (%) -0.3 Mar 2023 quarterly Mar 1976 - Mar 2023
France (%) 0.9 Mar 2023 quarterly Mar 1950 - Mar 2023
Georgia (%) 9.7 Dec 2022 quarterly Mar 1998 - Dec 2022
Germany (%) -0.5 Mar 2023 quarterly Mar 1992 - Mar 2023
Ghana (%) 1.6 Jun 2024 quarterly Jun 2006 - Jun 2024
Greece (%) 5.2 Dec 2022 quarterly Mar 1996 - Dec 2022
Hong Kong SAR, China (%) 2.8 Mar 2023 quarterly Mar 1991 - Mar 2023
Hungary (%) 0.8 Dec 2022 quarterly Mar 1996 - Dec 2022
Iceland (%) 6.1 Mar 2023 quarterly Mar 1996 - Mar 2023
India (%) 4.4 Dec 2022 quarterly Jun 2005 - Dec 2022
Indonesia (%) 5.0 Dec 2022 quarterly Mar 1994 - Dec 2022
Iran (%) 5.0 Mar 2022 quarterly Jun 1989 - Mar 2022
Ireland (%) -0.3 Mar 2023 quarterly Mar 1996 - Mar 2023
Israel (%) 2.5 Dec 2022 quarterly Mar 1996 - Dec 2022
Italy (%) 1.4 Dec 2022 quarterly Mar 1982 - Dec 2022
Ivory Coast (%) 6.8 2022 yearly 1966 - 2022
Japan (%) 0.4 Dec 2022 quarterly Mar 1956 - Dec 2022
Jordan (%) 2.8 Mar 2023 quarterly Mar 1993 - Mar 2023
Kazakhstan (%) 3.4 Mar 2023 quarterly Mar 2006 - Mar 2023
Kenya (%) 5.2 Sep 2022 quarterly Mar 2010 - Sep 2022
South Korea (%) 1.3 Dec 2022 quarterly Mar 1961 - Dec 2022
Kosovo (%) 4.3 Jun 2024 quarterly Mar 2011 - Jun 2024
Kuwait (%) -2.4 Mar 2024 quarterly Jun 2010 - Mar 2024
Kyrgyzstan (%) 7.0 Dec 2022 quarterly Mar 2007 - Dec 2022
Laos (%) 3.5 2021 yearly 2003 - 2021
Latvia (%) 0.4 Mar 2023 quarterly Mar 1996 - Mar 2023
Lebanon (%) 2.0 2021 yearly 2012 - 2021
Lithuania (%) -0.4 Dec 2022 quarterly Jun 1995 - Dec 2022
Luxembourg (%) -2.2 Dec 2022 quarterly Mar 1996 - Dec 2022
Macau SAR, China (%) -23.4 Dec 2022 quarterly Mar 2002 - Dec 2022
North Macedonia (%) 0.6 Dec 2022 quarterly Mar 2001 - Dec 2022
Malawi (%) 4.0 2018 yearly 2003 - 2018
Malaysia (%) 7.0 Dec 2022 quarterly Mar 2001 - Dec 2022
Malta (%) 4.6 Mar 2024 quarterly Mar 2001 - Mar 2024
Mauritius (%) 7.4 Sep 2022 quarterly Mar 2001 - Sep 2022
Mexico (%) 3.7 Dec 2022 quarterly Mar 1981 - Dec 2022
Moldova (%) -10.3 Sep 2022 quarterly Mar 1996 - Sep 2022
Mongolia (%) 7.7 Dec 2022 quarterly Mar 2011 - Dec 2022
Montenegro (%) 2.7 Jun 2024 quarterly Mar 2011 - Jun 2024
Morocco (%) 0.5 Dec 2022 quarterly Mar 2008 - Dec 2022
Mozambique (%) 2.0 Dec 2018 quarterly Jun 2007 - Dec 2018
Myanmar (%) 3.5 2022 yearly 2011 - 2022
Nepal (%) 0.8 Mar 2024 quarterly Dec 2004 - Mar 2024
Netherlands (%) 2.1 Mar 2023 quarterly Mar 1997 - Mar 2023
New Zealand (%) 1.8 Mar 2023 quarterly Jun 1983 - Mar 2023
Nigeria (%) 2.3 Mar 2023 quarterly Mar 2011 - Mar 2023
Norway (%) 1.8 Dec 2022 quarterly Mar 1979 - Dec 2022
Oman (%) 3.1 2021 yearly 1999 - 2021
Pakistan (%) 1.7 2023 yearly 2001 - 2023
Palestinian Territory (%) -10.2 Mar 2024 quarterly Jun 2000 - Mar 2024
Panama (%) 9.5 Sep 2022 quarterly Mar 2008 - Sep 2022
Paraguay (%) 5.2 Mar 2023 quarterly Mar 1995 - Mar 2023
Peru (%) -0.4 Mar 2023 quarterly Mar 1981 - Mar 2023
Philippines (%) 7.1 Dec 2022 quarterly Mar 1999 - Dec 2022
Poland (%) 0.4 Dec 2022 quarterly Mar 1996 - Dec 2022
Portugal (%) 1.8 Jun 2019 quarterly Mar 1996 - Jun 2019
Qatar (%) -0.0 Dec 2023 quarterly Mar 2012 - Dec 2023
Romania (%) 2.9 Mar 2023 quarterly Mar 1996 - Mar 2023
Russia (%) -2.6 Mar 2023 quarterly Mar 1996 - Mar 2023
Saudi Arabia (%) -3.7 Dec 2023 quarterly Mar 2011 - Dec 2023
Serbia (%) 4.5 Sep 2019 quarterly Mar 1997 - Sep 2019
Singapore (%) 0.4 Mar 2023 quarterly Mar 1976 - Mar 2023
Slovakia (%) 1.2 Dec 2022 quarterly Mar 1994 - Dec 2022
Slovenia (%) 1.8 Mar 2024 quarterly Mar 1996 - Mar 2024
South Africa (%) 1.3 Dec 2022 quarterly Mar 1961 - Dec 2022
Spain (%) 2.7 Dec 2022 quarterly Mar 1996 - Dec 2022
Sri Lanka (%) -12.4 Dec 2022 quarterly Mar 2011 - Dec 2022
Sudan (%) -1.9 2021 yearly 1983 - 2021
Sweden (%) -0.1 Dec 2022 quarterly Mar 1982 - Dec 2022
Switzerland (%) 0.7 Mar 2023 quarterly Mar 1966 - Mar 2023

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Saudi Arabia Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) 2.5 2022 yearly 1969 - 2022
Consolidated Fiscal Balance (USD mn) -21,585.731 2023 yearly 1969 - 2023
National Government Debt (USD mn) 273,066.7 2023 yearly 2004 - 2023
Government Debt: % of GDP (%) 28.4 Jun 2024 quarterly Dec 2016 - Jun 2024
Forecast: Government Expenditure (SAR bn) 1,553.324 2029 yearly 1990 - 2029
Forecast: Government Net Debt (SAR bn) 806.352 2028 yearly 1991 - 2028
Forecast: Government Revenue (SAR bn) 1,421.893 2029 yearly 1991 - 2029
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) 5.415 2028 yearly 1980 - 2028
Trade Balance (USD mn) 113,078.6 2023 yearly 1957 - 2023
Total Exports (USD mn) 25,204.5 Jul 2024 monthly Jan 2015 - Jul 2024
Total Exports Growth (%) 2.0 Jul 2024 monthly Jan 2016 - Jul 2024
Aluminum: Exports (USD th) 2,055,405.405 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 545,269.271 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 22,592.765 2022 yearly 1995 - 2022
Total Imports (USD mn) 20,060.5 Jul 2024 monthly Jan 2005 - Jul 2024
Total Imports Growth (%) 12.6 Jul 2024 monthly Jan 2006 - Jul 2024
Imports: Medicament (USD th) 5,358,995.860 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 2,078,407.217 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 1,377.043 Jul 2024 monthly Jan 2017 - Jul 2024
Total Imports from USA (USD mn) 1,449.504 Jul 2024 monthly Jan 2005 - Jul 2024
Total Exports to China (USD mn) 3,513.738 Jul 2024 monthly Jan 2017 - Jul 2024
Total Imports from China (USD mn) 5,095.898 Jul 2024 monthly Jan 1981 - Jul 2024
Exports: Value: Oil (SAR mn) 68,943.34 Apr 2018 monthly May 2016 - Apr 2018
Exports: Value: Crude Petroleum (SAR mn) 513,181.000 2017 yearly 1953 - 2017
Exports: Value: Non Oil (SAR mn) 19,555.77 Apr 2018 monthly Jan 2005 - Apr 2018
Exports: Value: Petroleum Products (SAR mn) 125,222.000 2017 yearly 1970 - 2017
Exports: India (SAR mn) 8,212.993 Jul 2024 monthly Jan 2017 - Jul 2024
Exports: South Korea (SAR mn) 9,690.601 Jul 2024 monthly Jan 2017 - Jul 2024
Exports: Value (SAR mn) 94,517.011 Jul 2024 monthly Jan 2015 - Jul 2024
Exports: ow China (SAR mn) 13,176.518 Jul 2024 monthly Jan 2017 - Jul 2024
Exports: ow USA (SAR mn) 5,163.911 Jul 2024 monthly Jan 2017 - Jul 2024
Exports: Value: Asia: India (SAR mn) 113,354.282 2023 yearly 1984 - 2023
Exports: Value: Asia: South Korea (SAR mn) 107,208.022 2023 yearly 1984 - 2023
Exports: Value: Asia: China Mainland (SAR mn) 199,331.298 2023 yearly 1984 - 2023
Exports: Value: North America: USA (SAR mn) 58,495.428 2023 yearly 1984 - 2023
Exports: Value: Asia: Japan (SAR mn) 121,831.325 2023 yearly 1984 - 2023
Imports: HS: Value: MC: Mineral Products (SAR mn) 61,579.696 2023 yearly 1983 - 2023
Imports: HS: Value: Hides and Skins, Wood, Cardboard and Articles (HW) (SAR mn) 17,249.487 2023 yearly 1970 - 2023
Imports: HS: Value: Foodstuffs (SAR mn) 105,681.247 2023 yearly 1970 - 2023
Imports: HS: Value: Pearls, Precious & Semi Precious Stones, Precious Metals, Ar... (SAR mn) 33,637.828 2023 yearly 1970 - 2023
Imports: HS: Value: Transport Equipment (SAR mn) 118,665.412 2023 yearly 1970 - 2023
Imports: Value: European Union: Germany (SAR mn) 34,218.595 2023 yearly 1984 - 2023
Imports: Value: Asia: South Korea (SAR mn) 22,618.912 2023 yearly 1984 - 2023
Imports: Value: Asia: China Mainland (SAR mn) 162,549.731 2023 yearly 1984 - 2023
Imports: Value: North America: USA (SAR mn) 70,584.316 2023 yearly 1984 - 2023
Imports: Value: Asia: Japan (SAR mn) 30,693.439 2023 yearly 1984 - 2023
Export Value Index (2015=100) 135.681 2021 yearly 1980 - 2021
Import Value Index (2015=100) 87.505 2021 yearly 1980 - 2021
Export Volume Index (2015=100) 115.814 2021 yearly 1980 - 2021
Import Volume Index (2015=100) 104.491 2021 yearly 2000 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 8,888.3 Mar 2024 quarterly Mar 2006 - Mar 2024
Current Account Balance (USD mn) 7,637.4 Mar 2024 quarterly Mar 2006 - Mar 2024
Current Account Balance: % of GDP (%) 2.8 Mar 2024 quarterly Mar 2006 - Mar 2024
Foreign Direct Investment (USD mn) 2,525.6 Mar 2024 quarterly Mar 2006 - Mar 2024
Foreign Direct Investment: % of GDP (%) 0.9 Mar 2024 quarterly Mar 2006 - Mar 2024
Foreign Portfolio Investment (USD mn) 23,787.540 Mar 2024 quarterly Mar 2008 - Mar 2024
Foreign Portfolio Investment: % of GDP (%) 8.8 Mar 2024 quarterly Mar 2008 - Mar 2024
Forecast: Current Account Balance (USD bn) 6.924 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) 785,074.650 2023 yearly 2007 - 2023
BoP: Financial Account: Portfolio Investment: Liabilities: Equity (USD mn) 639.030 Mar 2024 quarterly Mar 2018 - Mar 2024
BoP: Financial Account: Portfolio Investment: Liabilities: Debt Securities (USD mn) 23,148.510 Mar 2024 quarterly Mar 2018 - Mar 2024
BoP: USD: FA: Other Investment: Assets (USD mn) 22.871 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Other Investment (USD mn) -5,444.765 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Services: Debit (USD mn) 26,177.858 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Portfolio Investment: Assets (USD mn) 7,923.101 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Other Investment: Liabilities (USD mn) 5,467.636 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Secondary Income (USD mn) -12,820.548 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Primary Income: Credit (USD mn) 8,049.492 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: Errors and Omissions (USD mn) -2,811.669 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Portfolio Investment: Liabilities (USD mn) 23,787.540 Mar 2024 quarterly Mar 2008 - Mar 2024
BoP: USD: Financial Account (FA) (USD mn) 3,449.101 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Reserve Assets (USD mn) 18,395.575 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Goods: Credit (USD mn) 78,607.443 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Direct Investment (USD mn) 6,362.731 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Direct Investment: Assets (USD mn) 8,888.331 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Primary Income: Debit (USD mn) 4,554.693 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Services: Credit (USD mn) 15,650.670 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Primary Income (USD mn) 3,494.799 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Goods: Debit (USD mn) 51,117.069 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Goods (USD mn) 27,490.374 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: CA: Goods & Services: Services (USD mn) -10,527.188 Mar 2024 quarterly Mar 2006 - Mar 2024
BoP: USD: FA: Portfolio Investment (USD mn) -15,864.440 Mar 2024 quarterly Mar 2006 - Mar 2024
IIP: Assets (SAR mn) 5,352,001.798 2023 yearly 2007 - 2023
IIP: Liabilities (SAR mn) 2,407,971.859 2023 yearly 2007 - 2023
International Investment Position (IIP) (SAR mn) 2,944,029.939 2023 yearly 2007 - 2023
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 1.4 Mar 2024 quarterly Mar 2009 - Mar 2024
Household Debt: % of GDP (%) 11.9 Jun 2024 quarterly Dec 2003 - Jun 2024
Money Supply M1 (USD mn) 433,241.953 Jul 2024 monthly Jan 1993 - Jul 2024
Money Supply M2 (USD mn) 681,305.896 Jul 2024 monthly Jan 1993 - Jul 2024
M2 Growth (%) 10.5 Jul 2024 monthly Jan 1994 - Jul 2024
Reserve Requirement Ratio (%) 7.0 Aug 2024 monthly Mar 1980 - Aug 2024
Foreign Exchange Reserves (USD mn) 428,037.9 Jul 2024 monthly Jan 2001 - Jul 2024
Foreign Exchange Reserves: % of GDP (%) 41.018 Jun 2024 quarterly Dec 2003 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 23.9 2023 yearly 1957 - 2023
Gold Reserves (USD mn) 432.934 Aug 2024 monthly Dec 1957 - Aug 2024
Total Deposits (USD mn) 705,225.008 Jul 2024 monthly Jan 1993 - Jul 2024
Total Deposits Growth (%) 8.0 Jul 2024 monthly Jan 1994 - Jul 2024
Domestic Credit (USD mn) 279,406.0 Feb 2018 monthly Oct 1983 - Feb 2018
Domestic Credit Growth (%) 21.6 Dec 2017 quarterly Mar 1969 - Dec 2017
Credit to Households (USD bn) 348.930 Dec 2023 quarterly Mar 1998 - Dec 2023
Credit to Private Non-Financial Sector (USD bn) 796.302 Dec 2023 quarterly Mar 1993 - Dec 2023
Household Debt (USD mn) 128,629.4 Jun 2024 quarterly Mar 1998 - Jun 2024
Total Loans (USD mn) 744,346.958 Jul 2024 monthly Jan 1997 - Jul 2024
Total Loans Growth (%) 12.00 Jul 2024 monthly Jan 1998 - Jul 2024
Private Debt: % of Nominal GDP (%) 65.19 Jun 2024 quarterly Dec 2003 - Jun 2024
Base Money (SAR mn) 400,187.939 Aug 2024 monthly Jan 2000 - Aug 2024
Monetary Survey: Liabilities: Money & Quasi Money (SAR mn) 2,869,787.774 Jul 2024 monthly Jan 1993 - Jul 2024
Money Supply: M3: M2: M1 (SAR mn) 1,624,657.326 Jul 2024 monthly Jan 1993 - Jul 2024
Money Supply: M3: M2 (SAR mn) 2,554,897.109 Jul 2024 monthly Jan 1993 - Jul 2024
Official Reserve Assets (SAR mn) 1,761,859.286 Aug 2024 monthly Jan 2001 - Aug 2024
Official Reserve Assets: Foreign Currency and Deposits Abroad (SAR mn) 584,022.808 Jul 2024 monthly Jan 2001 - Jul 2024
Official Reserve Assets: Gold (SAR mn) 1,623.503 Feb 2019 monthly Jan 2001 - Feb 2019
Banks Deposits: Demand: Business and Individuals (SAR mn) 1,139,894.974 Jul 2024 monthly Jan 1993 - Jul 2024
Banks Deposits (SAR mn) 2,644,593.781 Jul 2024 monthly Jan 1993 - Jul 2024
Bank Loans: Consumer (SAR mn) 452,321.357 Jun 2024 quarterly Mar 1998 - Jun 2024

More Indicators for Saudi Arabia

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