Saudi Arabia’s gross domestic product advanced by 5.5% year-on-year in Q4 of 2022, compared with a 5.4% growth in the preliminary reading and after an 8.7% gain in Q3. This was the seventh straight period of yearly expansion but the softest pace since Q2 of 2021 due to a notable slowdown in oil activities (6.1% vs 14.2% in Q3). Meanwhile, non-oil activities grew by 6.1%, the same pace as in Q3, boosted primarily by a rise in the output of transport, storage & communication (13.1% vs 9.0% in Q3); community, social & personal services (10.5% vs 7.6%); agriculture, forestry & fishing (6.2% vs 3.1%); and wholesale & retail trade, restaurants & hotels (4.8% vs 4.4%). Government activities went up by 2.9%, compared with a 2.5% gain previously. On quarterly seasonally adjusted data, the Saudi GDP expanded by 1.3%, after 1.2% in Q3. For the 2022 full year, the economy surged 8.7%, accelerating sharply from a 3.9% rise in 2021. source: Central Department Of Statistics & Information

GDP Annual Growth Rate in Saudi Arabia averaged 3.74 percent from 1969 until 2022, 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. 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 - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

GDP Annual Growth Rate in Saudi Arabia is expected to be 3.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2024, according to our econometric models.

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Saudi Arabia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-31 06:00 AM YoY Prel Q4 5.4% 8.7% 4.8%
2023-03-09 06:00 AM YoY Final Q4 5.5% 8.7% 5.4%
2023-05-07 11:00 AM YoY Prel Q1 5.5% 3.7%


Related Last Previous Unit Reference
GDP Growth Rate 1.30 1.20 percent Dec 2022
GDP Annual Growth Rate 5.50 8.70 percent Dec 2022
GDP Constant Prices 783569.00 723609.00 SAR Million Dec 2022
Gross Fixed Capital Formation 267784.00 268774.00 SAR Million Dec 2022
GDP Growth Oil Sector 6.10 14.23 percent Dec 2022
GDP Growth Non Oil Sector 6.20 5.99 percent Dec 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
5.50 8.70 24.20 -20.70 1969 - 2022 percent Quarterly

News Stream
Saudi Arabia Q4 GDP Growth Revised Up to 5.5%
Saudi Arabia’s gross domestic product advanced by 5.5% year-on-year in Q4 of 2022, compared with a 5.4% growth in the preliminary reading and after an 8.7% gain in Q3. This was the seventh straight period of yearly expansion but the softest pace since Q2 of 2021 due to a notable slowdown in oil activities (6.1% vs 14.2% in Q3). Meanwhile, non-oil activities grew by 6.1%, the same pace as in Q3, boosted primarily by a rise in the output of transport, storage & communication (13.1% vs 9.0% in Q3); community, social & personal services (10.5% vs 7.6%); agriculture, forestry & fishing (6.2% vs 3.1%); and wholesale & retail trade, restaurants & hotels (4.8% vs 4.4%). Government activities went up by 2.9%, compared with a 2.5% gain previously. On quarterly seasonally adjusted data, the Saudi GDP expanded by 1.3%, after 1.2% in Q3. For the 2022 full year, the economy surged 8.7%, accelerating sharply from a 3.9% rise in 2021.
2023-03-09
Saudi Arabia GDP Expands For 7th Quarter
The economy of Saudi Arabia advanced by 5.4% from a year earlier in the fourth quarter of 2022, following a downwardly revised 8.7% rise in the previous period, according to preliminary estimates. It was the seventh straight quarter of economic expansion, largely driven by a 6.2% increase in non-oil activities. Meanwhile, oil activities expanded by 6.1% and government services activities rose by 1.8%. On a seasonally adjusted quarterly basis, the Saudi GDP grew by 1.5%, following a downwardly revised 1.2% gain in the third quarter.
2023-01-31
Saudi Arabia Q3 GDP Annual Growth Revised Higher
Saudi Arabia’s gross domestic product grew by 8.8% year-on-year in Q3 of 2022, compared with an 8.6% rise in the preliminary reading and after a 12.2% advance in Q2. This was the sixth straight quarter of yearly expansion but the softest pace since Q4 of 2021, due to a notable slowdown in oil activities (14.2% vs 22.9% in Q2). Also, non-oil activities eased markedly (6.0% vs 8.2% in Q2), amid moderation in the output of manufacturing excluding petroleum refining (11.0 vs 12.1%), petroleum refining (7.7% vs 16.%), other mining & quarrying (7.6% vs 10.1%), construction (4.4% vs 8.8%), agriculture (3.1% vs 3.5%), electricity, gas, water (1.9% vs 3.0%), and real estate (1.1% vs 1.9%). Meanwhile, government activities went up by 2.5%, compared with a 2.4% rise previously. On a quarterly seasonally adjusted data, the Saudi GDP expanded 2.1%, following a 2.2% increase in Q2.
2022-12-11