saudi arabia gdp

Meanwhile, non-oil output grew (3.83 percent vs 4.33 percent), driven by private activity (5.15 percent vs 4.22 percent). Saudi Arabia Executive Board Calendar. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. It was the weakest growth since the last quarter of 2017, as government expenditure fell (-3.6% vs 14.5% in Q2 2018). The IMF expects the Saudi Arabian economy to contract 6.8 percent in 2020. These have contributed to softening GDP growth to 1.7% year-on-year (y/y) in Q1 2019 from 2.4% in 2018. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).Source: World Bank, International Comparison Program database.The latest value for GDP, PPP (constant 2011 international $) in Saudi Arabia was 1,654,690,000,000 as of 2018. Saudi Arabia's economy contracted by 0.30 percent year-on-year in the fourth quarter of 2019, following a 0.46 percent contraction in the previous three-month period, led by a decline in the oil sector output (-5.82 percent vs -6.43 percent). GDP Growth Rate YoY Over the past 28 years, the value for this indicator has fluctuated between 1,864,810,000,000 in 2018 and 449,828,000,000 in 1990.Definition: PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. On the other hand, production rose faster for agriculture, forestry & fishing (1.2% vs 0.7%); finance, insurance, real Estate & business services (5.4% vs 3.4%) and wholesale & retail trade, restaurants & hotels (5.8% vs 0.6%) while construction output rebounded (4.9% vs -2.8%). Listed below are items related to Saudi Arabia. Over the past 50 years, the value for this indicator has fluctuated between 701,624,000,000 in 2018 and 76,790,670,000 in 1968.Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Saudi Arabia's economy contracted by 0.46 percent year-on-year in the third quarter of 2019, reversing a 0.50 percent growth in the previous three-month period, led by a sharp decline in oil sector output (-6.43 percent). It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Petroleum refining sank 24.2 percent and crude petroleum … The Kingdom of Saudi Arabia implemented significant cuts in oil production in 2019, as part of an OPEC+ agreement. Download historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data. Board Discussions on Saudi Arabia. The oil sector dropped 4.6 percent due to a plunge in international oil prices during the first four months of the year amid oversupply and demand concerns due to the coronavirus pandemic. None; Aggregates; Same region; Similar values; Highest values; Lowest values; Share Details. As the graph below shows, over the past 50 years this indicator reached a maximum value of 2,949,460,000,000 in 2018 and a minimum value of 18,845,000,000 in 1968.Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.

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