Saudi Arabia GDP

Saudi Arabia country overview

Before we start to discuss Saudi Arabia GDP first we discuss Saudi Arabia’s country overview, so Saudi Arabia is officially called the Kingdom of Saudi Arabia. Saudi Arabia is located in Western Asia.

Saudi Arabia shares its border with Jorden, Iraq, Kuwait, Qatar, UAE, Oman, Yemen, and Bahrain. Riyadh is the capital and largest city of Saudi Arabia.

Its official language is Arabic. In ethnic groups, 90% Arabs and 10% Africans live in Saudi Arabia. When we talk about its Religious divide, 93% of Muslims and 7% of non-Muslims live in Saudi Arabia.

Saudi Arabia’s government system is a Unitary Islamic monarchy. Its monarch’s name is Salman bin Abdulaziz. Its total land area is 2,149,690 km2.

Its land area rank is 12th in the world countries. Saudi Arabia’s total population is 34,218,200 in the year 2020. Its population rank is 40th in the world. Its population density is 15/km2. Its population density rank is 174th in the world.

Saudi Arabia Economy

Its currency is called the Saudi Riyal. Saudi Arabia’s economy is generally called the developing and emerging economy and also a high-income economy.

The inflation rate in Saudi Arabia is 0.7% in the year 2020. Its HDI rate is 0.854 in the year 2019. Its HDI rank is 40th in the world.

When we talk about its Labour force by occupation, agriculture 6.5%, industry 21%, and services are 72% in the year 2017. The unemployment rate in Saudi Arabia is 6% in the year 2018.

Its gross external debt is $204 billion in the year 2018. Saudi Arabia’s total foreign reserves are $440 billion in the year 2021.

Saudi Arabia GDP

Saudi Arabia’s total GDP is $840 billion (nominal) and $1.7 trillion (PPP) in the year 2021. Its GDP rank is 19th (nominal) and 17th (PPP) in the year 2021.

Its GDP growth rate is 3% in the year 2021. Its GDP per capita is $22,750 (nominal) and $48,000 (PPP) in the year 2021.

Its GDP per capita rank is 38th (nominal) and 23rd (PPP) in the year 2021. When we talk about its GDP by sector, agriculture 2.5%, industry 44%, and services are 53% in the year 2018.

Saudi Arabia Exports

Its total exports are $220 billion in the year 2018. Its major export item is oil and its products. Its main export partners are China, India, UAE, Egypt, and others.

Saudi Arabia Imports

Saudi Arabia’s total imports are $120 billion in the year 2018. Its main import goods are machinery, food products, textile, and others. Its main import partners are China, UAE, Japan, India, and others.

References: Worldbank, IMF, Wikipedia

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