Saudi Arabia GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

4.4

Units In

2.8

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
24.2 Dec 1973	-20.7 Dec 1982	3.44 %	1969-2024	Central Department Of Statistics & Information

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).

Latest Updates

Saudi Arabia’s economy expanded by 2.7% year-on-year in the first quarter of 2025, down from a 4.4% growth in the previous quarter, preliminary data showed. Growth in non-oil activities slowed (4.2% vs 4.8% in Q4), while oil production declined (-1.4% vs 3.5%). On the other hand, government activities increased at a faster pace (3.2% vs 1.7%). On a seasonally adjusted quarterly basis, GDP grew by 0.9% in the March quarter, following a 0.8% rise in the prior period. In April, the IMF cut the forecast for Saudi Arabia's GDP growth in 2025 to 3% versus a January estimate of a 3.3% increase.