Saudi Arabia’s gross domestic product expanded 1.66% year-on-year in the first quarter of 2019, easing from a 3.59% advance in the previous period. Net foreign demand contributed positively to growth, as exports climbed 5.1% (vs 12.4% in Q4) and imports went up at a softer 1.0% (vs 0.1%). At the same time, both government expenditure (1.5% vs -15.6%) and gross fixed capital formation (3.7% vs -4.8%) rebounded while household consumption surged 4.8%, higher than a 0.1% gain in Q4. On the production side, output slowed mainly for mining & quarrying (1.0% vs 6.4%); utilities (1.1% vs 2.4%) and agriculture, forestry & fishing (0.7% vs 0.8%). Also, manufacturing activity showed no growth in Q1, after increasing 3.5% in the prior period. By contrast, output rose faster for wholesale & retail trade (1.9% vs 0.8%); transport, storage & information and communication (4.9% vs 3.6%) and finance, insurance, real estate & business services (4.9% vs 3.5%). GDP Annual Growth Rate in Saudi Arabia averaged 4.03 percent from 1969 until 2019, reaching an all time high of 24.20 percent in the fourth quarter of 1973 and a record low of -20.70 percent in the fourth quarter of 1982.

GDP Annual Growth Rate in Saudi Arabia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Saudi Arabia to stand at 2.30 in 12 months time. In the long-term, the Saudi Arabia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

Saudi Arabia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-30 11:15 AM GDP Growth Rate YoY Q2 1.6% 1.2% 1.5%
2018-12-31 09:00 AM GDP Growth Rate YoY Q3 2.5% 1.6% 2.30%
2019-03-31 07:00 AM GDP Growth Rate YoY Q4 3.6% 2.5% 2%
2019-06-30 07:15 AM GDP Growth Rate YoY Q1 1.7% 3.6% 2.2%
2019-09-30 11:15 AM GDP Growth Rate YoY Q2 1.7% 1.9%
2019-12-31 09:00 AM GDP Growth Rate YoY Q3 2%


Saudi Arabia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.07 1.49 8.51 -2.14 percent [+]
GDP Annual Growth Rate 1.70 3.60 24.20 -20.70 percent [+]
GDP 782.48 688.59 782.48 4.19 USD Billion [+]
GDP Constant Prices 660685.00 682514.00 1925394.03 476504.51 SAR Million [+]
Gross Fixed Capital Formation 152394.00 185766.00 199621.00 101572.00 SAR Million [+]
GDP per capita 20775.20 20693.90 39152.10 14252.60 USD [+]
GDP per capita PPP 48995.60 48804.00 50467.00 39376.30 USD [+]
GDP From Agriculture 16175.00 13397.00 16175.00 10354.00 SAR Million [+]
GDP From Construction 29199.00 28856.00 31972.00 21969.00 SAR Million [+]
GDP From Manufacturing 80884.00 80778.00 81493.00 53468.00 SAR Million [+]
GDP From Mining 254434.00 268793.00 268793.00 189221.00 SAR Million [+]
GDP From Transport 40828.00 41435.00 41435.00 24028.00 SAR Million [+]
GDP From Utilities 3824.00 6092.00 15218.00 3141.00 SAR Million [+]


Saudi Arabia GDP Annual Growth Rate

Saudi Arabia is the world´s biggest producer of oil and oil extraction accounts for 46 percent of GDP. The services sector represents 36 percent of the wealth including government services (13 percent), wholesale and retail trade and restaurants and hotels (8 percent) and financing, insurance and real estate (7.9 percent). Other sectors are: manufacturing (10 percent), construction and electricity, gas and water distribution (6 percent) and agriculture, forestry and fishing (2 percent). This page provides the latest reported value for - Saudi Arabia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Saudi Arabia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 3.60 24.20 -20.70 1969 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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