In 2024, the growth of the real gross domestic product (GDP) in Saudi Arabia stood at about 1.31 percent. Between 1980 and 2024, the figure dropped by approximately 4.49 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the growth will rise by around 1.97 percentage points, showing an overall upward trend with periodic ups and downs.This indicator describes the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.

The timeline shows the gross domestic product of Saudi Arabia from 1987 to 2024, with projections up until 2030. In 2024, Saudi Arabia's gross domestic product (GDP) amounted to approximately ******** billion U.S. dollars.

The gross domestic product (GDP) per capita in Saudi Arabia amounted to 35,120 U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by 15,580 U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by 5,040 U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

The Gross Domestic Product (GDP) in Saudi Arabia was worth 1237.53 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Saudi Arabia represents 1.17 percent of the world economy. This dataset provides - Saudi Arabia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the ratio of national debt to gross domestic product (GDP) of Saudi Arabia stood at about 29.87 percent. Between 1991 and 2024, the figure dropped by approximately 9.48 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the ratio will steadily grow by around 16.05 percentage points from 2024 to 2030.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Saudi Arabia: Inflation forecast: The latest value from 2030 is 2 percent, unchanged from 2 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for Saudi Arabia from 1980 to 2030 is 1.37 percent. The minimum value, -3.17 percent, was reached in 1986 while the maximum of 7.31 percent was recorded in 2007.

Graph and download economic data for Projection of General government gross debt for Saudi Arabia (GGGDTPSAA188N) from 2025 to 2030 about Saudi Arabia, projection, debt, gross, and government.

Graph and download economic data for Projection of General government net lending/borrowing for Saudi Arabia (GGNLBPSAA188N) from 2025 to 2030 about Saudi Arabia, budget, projection, Net, and government.

This statistic shows the total population of Saudi Arabia from 2020 to 2024, with projections up until 2030. In 2024, Saudi Arabia's total population amounted to 35.3 million inhabitants. Population of Saudi Arabia Saudi Arabia, the second largest Arab state, is a nation in development. As a result of the economic stability, gross domestic product (GDP) has grown by about 520 billion U.S. dollars over the past decade. This comes as a result of Saudi Arabia’s positive trade balance and the fact that Saudi Arabia exports about 2.5 times more goods than it imports. Therefore, it is no surprise that Saudi Arabia has constantly had a very high GDP growth in the past decade. In a developing country, there is a tendency for the population to move to more urban cities where the employment rates are higher. The degree of urbanization in Saudi Arabia has grown by around 2 percent from 2002 to 2012. Some of the biggest cities in Saudi Arabia have witnessed the urbanization changes first-hand. The capital of Saudi Arabia and the biggest city, Ar-Riyad, is home to about five million inhabitants. However, the high number of illegal immigrants in Saudi Arabia also accounts for the total population. More awareness to health risks and better living conditions have increased the life expectancy at birth in Saudi Arabia by about 3 years in the last decade. With a rapidly growing total population, it has grown by around 8 million inhabitants over the past decade, the government has set some rules to avoid overcrowding and overpopulation. The fertility rate in Saudi has steadily decreased over the past years in order to attempt to control the rapidly growing population.

Saudi Arabia aims at transforming its hydrocarbon resource-rich economy into a sustainable and diversified one over the coming decade. With this goal in mind, the Vision 2030 initiative introduces a set of complex socio-economic transformation targets. Diversification is expected to significantly change the sectoral composition of the economy, with the manufacturing and service sectors becoming further pillars of sustainable growth. The V2030 dynaminc input-output tables combine macroeconomic forecasts with the RAS method to reflect the future structure of the Saudi economy, with an emphasis on key targets of Saudi Vision 2030.

In Saudi Arabia Sharing Economy Market , was valued at approximately USD 10.11 billion in 2022 and is projected to reach USD 12.45 billion by 2029,

Saudi-Arabien: Economic growth forecast: Für diesen Indikator stellen wir Daten für Saudi-Arabien von 1980 bis 2030 bereit. Der durchschnittliche Wert für Saudi-Arabien in diesem Zeitraum lag bei 2.25 Prozent mit einem Minimum von -16.11 Prozent im Jahre 1982 und einem Maximum von 10.99 Prozent im Jahre 2011. Der neuste Wert aus dem Jahr 2030 liegt bei 3.28 Prozent. Zum Vergleich: Der Weltdurchschnitt im Jahr 2030, basierend auf 182 Ländern, liegt bei 3.25 Prozent.

By 2030, Artificial Intelligence (AI) was forecast to contribute around *** billion U.S. dollars to the Middle East economy. Saudi Arabia was expected to gain the most from AI, at around *** billion U.S. dollars. In relative terms, the United Arab Emirates was forecast to witness the largest impact, estimated at around ** percent of the country's GDP in 2030.

According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 4.8 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2024, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 29.2 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 992 billion U.S. dollars in 2024.

About the Project The project explores alternative methods of measuring economic diversification and investigating its associated impacts on the Saudi Arabian economy and other GCC countries. By utilizing a financial portfolio framework reconciled with economic growth theory, the economy is viewed as a portfolio of economic sectors, each contributing to the overall output growth. Results demonstrated that diversification policies have been effective, as the economy moves towards higher growth with lower instability. Key Points Evidence confirms that there is a positive correlation between the economic growth rate and its volatility/risk in the Gulf Cooperation Council (GCC) region. In other words, there is a trade-off between the benefits of oil and gas activity and the volatility resulting from unpredictable commodity price swings in such resource dependent economies. Our analysis uses a financial portfolio framework approach (and more specifically an efficient frontier analysis), treating economic sectors as individual investments. We calculate a relative risk measure termed the ‘beta coefficient’ and assemble a portfolio of sectors with varying weights to find the efficient frontier. If the beta of the portfolio representing the economy is above global average, the economy will generally grow faster than the global average but with greater volatility – the upturns will be higher and the downturns deeper. We aim to shed light on diversification policy from this novel, if not yet widely accepted, perspective. The GCC economies exhibit ‘high beta,’ particularly Qatar. Saudi Arabia sits in the middle of the group, but above the global average, while Oman has the lowest coefficient of the group. Saudi Arabia’s National Transformation Plan to 2020 and economic Vision 2030 envisage an economy that is still invested in oil and gas activity at 45 percent of total output. While diversification policies in these plans promote economic growth, it still leaves the economy exposed to the volatility of energy markets. In comparison, the optimal mix of economic sectors could increase the growth rate by more than 1 percent annually and nearly halve the expected volatility (to less than 60 percent of growth rate). Saudi Arabia’s historical economic policies were effective in achieving some diversification. However, their benefits could be increased by policies that balance productive efficiency with diversification of economic activity. The difference between policy-optimized portfolio and non-constrained optimization can be used to estimate the size of the fiscal stabilization fund needed to protect the economy from stop/go risks to diversification objectives.

By 2030, artificial intelligence was expected to contribute around ** percent to the gross domestic product (GDP) of Morocco. In comparison, the projected AI contribution to the economy of Saudi Arabia by 2030 was forecast at approximately **** percent of its GDP. Saudi Arabia’s AI landscape The Kingdom's national AI strategy aims to achieve global leadership and establish a data-driven economy. AI contribution to the GDP of Saudi Arabia was forecast to reach approximately *** billion U.S. dollars by 2030, making the Kingdom the largest anticipated collector of the AI gains in the region. Funds received by Saudi AI companies reached *** billion U.S. dollars in 2023. Nevertheless, the number of AI specialists in the country remained lower than in the neighboring United Arab Emirates, which had around ** percent more domain specialists in 2024. AI in MENA The Middle East and North Africa hold tremendous potential for AI expansion and economic growth, with market forecasts set to reach approximately ** billion U.S. dollars by 2030. At an organizational level, businesses are projected to double their return on investment (ROI) for applications like cloud-generative AI implementations. AI is anticipated to also contribute to the daily work of professionals, primarily helping with product creation, via providing intelligent interfaces, and by reducing administrative tasks. With the growth trends in data center investment and IT spending, AI adoption in MENA is expected to free up time for higher-level tasks like strategic thinking or problem-solving and considerably increase productivity.

Inflation Rate in Saudi Arabia remained unchanged at 2.20 percent in October. This dataset provides - Saudi Arabia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Saudi Arabia structural steel fabrication market is experiencing robust growth, projected to reach $2.21 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 11.30% from 2025 to 2033. This expansion is fueled by significant investments in infrastructure development, particularly within the construction, power & energy, and oil & gas sectors. The Kingdom's Vision 2030 initiative, emphasizing diversification and infrastructure modernization, is a primary driver. Increasing urbanization and the need for new residential, commercial, and industrial buildings further bolster market demand. The market is segmented by end-use industry (manufacturing, power & energy, consumer staples, oil & gas, and others) and product type (heavy sectional steel, light sectional steel, and others). While the precise market share for each segment isn't provided, it's reasonable to assume that construction-related sectors (manufacturing, consumer staples, and oil & gas) constitute a significant portion, with heavy sectional steel likely dominating the product type segment due to its use in large-scale infrastructure projects. Key players like Attieh Steel, Gulf Specialized Works, and Zamil Steel are actively shaping the market landscape, leveraging their expertise and established presence to cater to the growing demand. However, potential challenges include fluctuations in global steel prices and the overall economic climate. Despite the positive outlook, maintaining a sustainable supply chain and skilled workforce will be crucial for sustained market growth. The competitive landscape is characterized by a mix of large established companies and smaller specialized fabricators. Competition is likely focused on pricing, project delivery timelines, and specialized fabrication capabilities. Future growth will depend on the continued success of Vision 2030, government policies supporting infrastructure projects, and the ability of market players to adapt to technological advancements and changing customer requirements. The market's expansion presents lucrative opportunities for both domestic and international companies involved in steel fabrication and related services. Further research into specific sub-segments will be needed to gain a more granular understanding of market dynamics and potential investment opportunities. Recent developments include: October 2023: Eversendai Resources Bhd's wholly-owned subsidiary, Eversendai Resources Sdn Bhd (ERSB), entered into a partnership with Algihaz, a Saudi Arabia-based company, to form a joint venture (JV) with a primary focus on undertaking structural steel projects in Saudi Arabia., September 2023: Saudi Basic Industries Corporation (SABIC) signed an agreement to divest its subsidiary, Saudi Iron and Steel Company (Hadeed), to the Public Investment Fund (PIF).. Key drivers for this market are: Growing Infrastructure, Vision; Increasing Tourism. Potential restraints include: Growing Infrastructure, Vision; Increasing Tourism. Notable trends are: Increase in Housing Delivery Plan Driving Structural Steel Market.

In 2024, the ratio of government expenditure to GDP in Saudi Arabia stood at 29.57 percent. Between 1990 and 2024, the figure dropped by 9.71 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the ratio will steadily decline by 3.33 percentage points from 2024 to 2030.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

Saudi Arabia Flexible Office Space Market size was valued at USD 295 Million in 2024 and is projected to reach USD 569 Million by 2032, growing at a CAGR of 9.8% from 2025 to 2032.

Key Market Drivers:

Vision 2030 and Economic Diversification: Saudi Arabia’s Vision 2030 initiative is driving the creation of new business sectors, and increasing demand for flexible workspaces.

Growing Startup Ecosystem and SME Development: The focus on nurturing startups and SMEs has significantly boosted the demand for flexible office solutions. According to the Saudi General Authority for Small and Medium Enterprises (Monsha’at), SMEs contributed 35.7% to GDP in 2022, up from 20% in 2016.