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Saudi Arabia

Al Mamlakah al Arabiyah as Suudiyah

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$378.413 billion (2023 est.)

expenditures

$388.489 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$445.881 billion (2022 est.)

Exports 2023

$368.731 billion (2023 est.)

Exports 2024

$360.897 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$258.371 billion (2022 est.)

Imports 2023

$289.91 billion (2023 est.)

Imports 2024

$317.012 billion (2024 est.)

Industries

crude oil production, petroleum refining, basic petrochemicals, ammonia, industrial gases, sodium hydroxide (caustic soda), cement, fertilizer, plastics, metals, commercial ship repair, commercial aircraft repair, construction

Labor force

17.168 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

13.1% of GDP (2016 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0% of GDP (2022 est.)

Remittances 2023

0% of GDP (2023 est.)

Remittances 2024

0% of GDP (2024 est.)

Exchange rates

Currency

Saudi riyals (SAR) per US dollar -

Exchange rates 2020

3.75 (2020 est.)

Exchange rates 2021

3.75 (2021 est.)

Exchange rates 2022

3.75 (2022 est.)

Exchange rates 2023

3.75 (2023 est.)

Exchange rates 2024

3.75 (2024 est.)

Economic overview

high-income, oil-based Middle Eastern economy; OPEC founding member; Vision 2030 strategy prioritizing economic diversification, increased private sector involvement, and projects funded by sovereign wealth fund and foreign investment; young labor force; falling but significant poverty rate despite lack of official statistics

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

5.6% (2022 est.)

Unemployment rate 2023

4.1% (2023 est.)

Unemployment rate 2024

3.9% (2024 est.)

Exports - partners

China 21%, India 12%, Japan 12%, USA 6%, UAE 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 21%, UAE 8%, USA 7%, India 6%, Germany 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$67,200 (2022 est.)

Real GDP per capita 2023

$64,500 (2023 est.)

Real GDP per capita 2024

$62,700 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

12% (2022 est.)

Real GDP growth rate 2023

0.5% (2023 est.)

Real GDP growth rate 2024

1.8% (2024 est.)

Agricultural products

milk, dates, chicken, wheat, tomatoes, watermelons, potatoes, olives, eggs, onions (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

crude petroleum, refined petroleum, plastics, alcohols, ships (2023)

note: top five export commodities based on value in dollars

Imports - commodities

cars, refined petroleum, gold, broadcasting equipment, packaged medicine (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

$150.353 billion (2022 est.)

Current account balance 2023

$35.133 billion (2023 est.)

Current account balance 2024

-$5.685 billion (2024 est.)

Taxes and other revenues

7.8% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$1.238 trillion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

45% (2024 est.)

government consumption

21.4% (2024 est.)

investment in inventories

1.4% (2024 est.)

investment in fixed capital

28.7% (2024 est.)

exports of goods and services

29.2% (2024 est.)

imports of goods and services

-25.6% (2024 est.)

Average household expenditures

on food

20.5% of household expenditures (2023 est.)

on alcohol and tobacco

0.7% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

2.5% (2022 est.)

Inflation rate (consumer prices) 2023

2.3% (2023 est.)

Inflation rate (consumer prices) 2024

1.7% (2024 est.)

Industrial production growth rate

-1.3% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$2.161 trillion (2022 est.)

Real GDP (purchasing power parity) 2023

$2.173 trillion (2023 est.)

Real GDP (purchasing power parity) 2024

$2.213 trillion (2024 est.)

Youth unemployment rate (ages 15-24)

male

9.8% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

13.8% (2024 est.)

female

23.8% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$478.232 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$457.949 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$463.87 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

44.8% (2024 est.)

services

47.2% (2024 est.)

agriculture

2.5% (2024 est.)