Saudi Arabia’s gross domestic product advanced 11.8 percent year-on-year in the second quarter of 2022, accelerating from a 9.9 percent growth in the previous quarter, preliminary estimates showed. It was the strongest growth in the GDP since the third quarter 2011, led by a 23.1 percent surge in oil activity. Also, non-oil activities grew by 5.4 percent and government services activities rose by 2.2 percent. On a quarterly seasonally adjusted data, the Saudi GDP expanded by 1.8 percent due to the positive growth in oil (4.8 percent) and government services activities (0.2%), while non-oil activities declined by 0.4 percent. source: Central Department Of Statistics & Information

GDP Annual Growth Rate in Saudi Arabia averaged 3.65 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 August of 2022.

GDP Annual Growth Rate in Saudi Arabia is expected to be 4.00 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 2023, according to our econometric models.

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Saudi Arabia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-07 06:00 AM YoY Final Q1 9.9% 6.7% 9.6%
2022-07-31 07:00 AM YoY Prel Q2 11.8% 9.9% 6.2%
2022-09-13 06:10 AM YoY Final Q2 9.9% 11.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.80 2.60 percent Jun 2022
GDP Annual Growth Rate 11.80 9.90 percent Jun 2022
GDP Constant Prices 698001.00 705517.00 SAR Million Mar 2022
Gross Fixed Capital Formation 225392.00 198029.00 SAR Million Mar 2022
GDP Growth Oil Sector 20.40 10.90 percent Mar 2022
GDP Growth Non Oil Sector 3.70 5.10 percent Mar 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
11.80 9.90 24.20 -20.70 1969 - 2022 percent Quarterly

News Stream
Saudi Q1 GDP Growth Revised Higher to 9.9%
The Saudi Arabian economy advanced by 9.9% yoy in Q1 of 2022, compared with the flash figure of a 9.6% expansion and after a final 6.7% growth in Q4. It was the fourth straight quarter of GDP increase and the strongest growth since the third quarter 2011, mainly driven by a 20.3% growth in oil activities, which was a result of rising world demand for crude oil and the increase of Saudi production. At the same time, non-oil activities expanded by 3.7%, with wholesale & retail trade, restaurants & hotels (6.3%) recording the biggest increase, followed by transport, storage and communication (5.9%), and finance, insurance and business services (4.2%). Meanwhile, the government activities sector recorded a positive growth rate of 2.4%. On a seasonally adjusted quarterly basis, the GDP expanded 2.6%, accelerating from a 1.6% gain in Q4.
2022-06-07
Saudi Arabia Economy Expands the Most since 2011
Saudi Arabia’s gross domestic product expanded 9.6 percent year-on-year in the first quarter of 2022, according to preliminary estimates. That would be the strongest growth since 2011 led by a 20.4 percent increase in oil activity. Also, non-oil activities rose by 3.7 percent and government services activities went up by 2.4 percent. On a quarterly seasonally adjusted data, the Saudi GDP grew by 2.2 percent due to the positive growth in oil (2.9 percent) and non-oil activities (2.5 percent), while government services activities decreased by 0.9 percent.
2022-05-01
Saudi Q4 GDP Growth Revised Slightly Lower to 6.7%
The Saudi Arabian economy grew by 6.7% yoy in Q4 of 2021, compared with the flash figure of a 6.8% expansion and after a final 7.0% advance in Q3, which was the strongest growth since Q1 2012. It was the third straight quarter of GDP increase, mainly driven by a 10.9% growth in oil activities, which was a result of rising world demand for crude oil and the increase of Saudi production last year. At the same time, non-oil activities expanded by 5.1%, with community, social & personal services (9.4%) recording the biggest increase, followed by transport, storage and communication(8.6%), wholesale & retail trade, restaurants & hotels (4.3%). Meanwhile, the government activities sector recorded a positive growth rate of 2.4%. On a seasonally adjusted quarterly basis, the GDP advanced 1.6%, easing sharply from a 5.7% gain in Q3. For 2021 full year, the economy expanded by 3.2 percent, rebounding sharply from a 4.1 percent contraction in 2020.
2022-03-16