The country’s real GDP during 2022 grew by 8.7 percent compared to the previous year, according to flash estimates by the Saudi General Authority for Statistics
Saudi GDP
GDP growth
Saudi Arabia registers 8.6 percent growth in real GDP in Q3 2022
The country also reported a low inflation at 2.9 percent – one of the lowest rates among the G20 nations
Oil
Higher oil prices push Saudi economy to grow by 11 percent
Saudi Arabia’s gross domestic product grew by 11.8 percent in the second quarter of this year, compared to 2021, led by an increase in oil activities.
Oil activities grew 23.1 percent in the same period, according to data from the General Authority for Statistics, while the Kingdom’s non-oil economy rose 5.4 percent.
The second quarter figure followed […]
crude oil
Saudi Arabia reports $15.3 billion in budget surplus during first quarter of 2022 as oil income surges
Saudi Arabia’s total government revenue rose to $74 billion in the first three months of 2022, while capital expenditures dipped 1 percent with the kingdom relying on its sovereign wealth fund for domestic investments and projects
KSA
Saudi Crown Prince approves investment of $151.9 billion by 2030 to catalyse kingdom’s GDP growth
Saudi Crown Prince Mohammed bin Salman has directed the National Development Fund to target more than a threefold increase of non-oil GDP to reach $161.25 billion (SAR 605 billion) by 2030, while generating new job opportunities in the kingdom
crude oil price
Goldman Sachs lifts Saudi Arabia’s growth forecasts as oil prices rise
US bank sees the economy of the world’s largest crude exporter expanding a further 7 percent in 2022, compared to a 5.7 percent forecast previously
General Authority for Statistics
Saudi non-oil economy grows for first time since pandemic
The non-oil sector grew 3.3 percent from a year earlier, according to a preliminary estimates released by the kingdom’s General Authority for Statistics
economic outlook
Saudi Arabia forecast to see 2.1% economic rebound but uncertainty weighs
Jadwa Investment says lion’s share of growth is likely to be driven by the non-oil sector this year
Economic activity
Saudi economy rebounds in Q4 after coronavirus blow
Arab world’s largest economy contracted about 4% last year, the lowest level since at least 2013
impact of skills mismatch
How tackling skills mismatch could add 1.3% to Saudi Arabia’s GDP
Boston Consulting Group says skills mismatch is the key barrier to human capital development in Saudi Arabia
diversify economy
Saudi non-oil growth fastest since 2015 as private sector heals
Non-oil gross domestic product expanded almost 3%, the fastest pace since 2015
Ipsos
Moral decline becoming bigger issue for Saudi consumers – survey
Ipsos poll shows a large majority of consumers in Saudi Arabia still believe the country’s economy is heading in the right direction
Bank of America Merrill Lynch
Could more mega projects solve Saudi unemployment?
Bank of America Merrill Lynch says Saudi Arabia may need to launch new mega projects to hit Vision 2030 targets on jobs
business activities
Non-oil private sector growth in Saudi Arabia hits 17-month high
Prices charged for goods and services rise but job creation remains static
budget surplus
Saudi Arabia posts surplus for first time since 2014
Oil revenues rose 48 percent from the same period in 2018
budget deficit
Saudi Arabia to issue $31.5bn in debt this year to help finance budget deficit
Saudi Arabia’s outstanding government debt stood at approximately $150 billion at the end of 2018
General Authority for Statistics Saudi Arabia
SMEs said to employ 1m Saudis, set to grow amid reforms
Jadwa Investment research says around 950,000 SMEs are registered for business purposes in Saudi Arabia