Saudi Arabia’s gross domestic product advanced 2.59 percent year-on-year in the fourth quarter of 2018, following a 2.47 percent expansion in the previous period. It was the highest growth rate since the last quarter of 2017, when the economy contracted by 1.18 percent. Net foreign demand contributed positively to growth, as exports jumped 12.44 percent (vs 8.01% in Q3) and imports went up at a softer 0.09 percent (vs 7.18% in Q3) while household consumption (0.12% vs 1.63%) slowed. On the other hand, government expenditure (-15.69% vs 7.55% in Q3) and fixed investment (-4.81% vs 8.87%) contracted. On the production side, output growth accelerated mainly for: mining and quarrying (6.41% vs 4.19%); manufacturing (3.52%t vs 1.66%). Meantime, output growth eased mainly for: electricity, gas, and water (2.36% vs 4.41%), transport, storage & information and communication (3.64% vs 4.85%). For 2018 as a whole, the economy grew 2.21 percent, compared to a 0.74 percent contraction in 2017. GDP Annual Growth Rate in Saudi Arabia averaged 4.06 percent from 1969 until 2018, 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.

GDP Annual Growth Rate in Saudi Arabia is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Saudi Arabia to stand at 2.10 in 12 months time. In the long-term, the Saudi Arabia GDP Annual Growth Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

Saudi Arabia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-01 07:00 AM GDP Growth Rate YoY 1.2% -1.18% 1.5%
2018-09-30 11:15 AM GDP Growth Rate YoY 1.6% 1.2% 1.5%
2018-12-31 09:00 AM GDP Growth Rate YoY 2.5% 1.6% 2.30%
2019-03-31 07:00 AM GDP Growth Rate YoY 3.6% 2.5% 2%
2019-06-30 07:00 AM GDP Growth Rate YoY 3.6% 2.2%
2019-09-30 11:15 AM GDP Growth Rate YoY 1.9%
2019-12-31 09:00 AM GDP Growth Rate YoY 1.7%


Saudi Arabia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.60 0.60 8.80 -2.30 percent [+]
GDP Annual Growth Rate 3.60 2.50 24.20 -20.70 percent [+]
GDP 683.83 644.94 756.35 4.19 USD Billion [+]
GDP Constant Prices 682514.00 653714.00 1925394.03 476504.51 SAR Million [+]
Gross Fixed Capital Formation 185766.00 133157.00 597751.00 101572.00 SAR Million [+]
GDP per capita 20796.32 21380.50 39125.40 14253.50 USD [+]
GDP per capita PPP 49045.41 50423.01 50723.70 39194.80 USD [+]
GDP From Agriculture 13397.00 15214.00 16063.00 10354.00 SAR Million [+]
GDP From Construction 28856.00 28764.00 31972.00 21969.00 SAR Million [+]
GDP From Manufacturing 80778.00 79914.00 81493.00 53468.00 SAR Million [+]
GDP From Mining 268793.00 265919.00 268793.00 189221.00 SAR Million [+]
GDP From Transport 41435.00 37302.00 41435.00 24028.00 SAR Million [+]
GDP From Utilities 6092.00 15218.00 15218.00 3141.00 SAR Million [+]


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). 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 - actual data, historical chart and calendar of releases - was last updated on April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.60 2.50 24.20 -20.70 1969 - 2018 percent Quarterly




Country Last Previous
India 6.60 Dec/18
China 6.40 Mar/19
Indonesia 5.18 Dec/18
Saudi Arabia 3.60 Dec/18
South Korea 3.10 Dec/18
United States 3.00 Dec/18
Russia 2.70 Dec/18
Australia 2.30 Dec/18
Spain 2.30 Dec/18
Netherlands 2.20 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Switzerland 1.40 Dec/18
United Kingdom 1.40 Dec/18
Singapore 1.30 Mar/19
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 1.00 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -6.20 Dec/18


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