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Business and economic intelligence for the Gulf and Iraq.

Countries

🇸🇦 Saudi Arabia

Riyadh · SAR

The Gulf's largest economy and the world's largest oil exporter, in the middle of a state-led diversification programme (Vision 2030) financed largely through the Public Investment Fund.

Verified · updated 22 Sept 2026

What we watch this week

  • 4 OctOPEC+ monthly meeting sets November output.Source ↗
  • 28 OctThe US Federal Reserve decision at its 28 October meeting; most Gulf currencies are pegged to the dollar.Source ↗
  • This weekTrump's meeting with Gulf leaders in New York and any sign of de-escalation.Source ↗
  • This weekWhether the East-West pipeline restarts, and the pace of Gulf-coast oil loadings.Source ↗
  • This weekAramco's sale of 60 million barrels through Hormuz across September and October.Source ↗

Last updated 23 Sept 2026

Key indicators

$1,277 bn

GDP (nominal)

World Bank, World Development Indicators·2025·13 Jul 2026·About this indicator

4.5%

Real GDP growth

World Bank, World Development Indicators·2025·13 Jul 2026·About this indicator

2.1%

Inflation (CPI)

World Bank, World Development Indicators·2025·13 Jul 2026·About this indicator

36.97 mn

Population

World Bank, World Development Indicators·2025·13 Jul 2026·About this indicator

Oil and gas

267.2 bn bbl

Proven crude oil reserves

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

8.96 mb/d

Crude oil production

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

6.05 mb/d

Crude oil exports

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

3.29 mb/d

Refining capacity

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

9,727 bcm

Proven natural gas reserves

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

102.9 bcm

Marketed natural gas production

OPEC Annual Statistical Bulletin·2024·2 Jul 2025·About this indicator

Labour snapshot

3%

Unemployment rate (total)

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026·About this indicator

6.4%

Unemployment rate (nationals)

Arab News· Tier 2 · reputable press·Q1 2026·30 Jun 2026·About this indicator

65.1%

Labour force participation (total)

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026·About this indicator

49%

Labour force participation (nationals)

Arab News· Tier 2 · reputable press·Q1 2026·30 Jun 2026·About this indicator

Nationalisation programme

Ministry of Human Resources and Social Development

Saudization is applied through Nitaqat, which sets minimum shares of Saudi employees by sector and firm size, alongside sector-specific localisation decisions for professions such as engineering, accounting and retail.

Official source ↗

Sovereign funds

Major companies

AI infrastructure

All verified values

Key indicatorsPeriodValueSource
GDP (nominal)2025$1,277 bn

World Bank, World Development Indicators·2025·13 Jul 2026

GDP (nominal)2024$1,254 bn

World Bank, World Development Indicators·2024·13 Jul 2026

Proven crude oil reserves2024267.2 bn bbl

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

GDP (nominal)2023$1,219 bn

World Bank, World Development Indicators·2023·13 Jul 2026

Proven crude oil reserves2023267.2 bn bbl

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

GDP (nominal)2022$1,239 bn

World Bank, World Development Indicators·2022·13 Jul 2026

GDP (nominal)2021$983 bn

World Bank, World Development Indicators·2021·13 Jul 2026

GDP (nominal)2020$768 bn

World Bank, World Development Indicators·2020·13 Jul 2026

GDP (nominal)2019$889 bn

World Bank, World Development Indicators·2019·13 Jul 2026

GDP (nominal)2018$887 bn

World Bank, World Development Indicators·2018·13 Jul 2026

GDP (nominal)2017$741 bn

World Bank, World Development Indicators·2017·13 Jul 2026

GDP (nominal)2016$689 bn

World Bank, World Development Indicators·2016·13 Jul 2026

GDP (nominal)2015$693 bn

World Bank, World Development Indicators·2015·13 Jul 2026

Real GDP growth20254.5%

World Bank, World Development Indicators·2025·13 Jul 2026

Real GDP growth20242.6%

World Bank, World Development Indicators·2024·13 Jul 2026

Crude oil production20248.96 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Real GDP growth20230.5%

World Bank, World Development Indicators·2023·13 Jul 2026

Crude oil production20239.61 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Real GDP growth202212%

World Bank, World Development Indicators·2022·13 Jul 2026

Real GDP growth20216.5%

World Bank, World Development Indicators·2021·13 Jul 2026

Real GDP growth2020-3.8%

World Bank, World Development Indicators·2020·13 Jul 2026

Real GDP growth20191.7%

World Bank, World Development Indicators·2019·13 Jul 2026

Real GDP growth20183.2%

World Bank, World Development Indicators·2018·13 Jul 2026

Real GDP growth20171.2%

World Bank, World Development Indicators·2017·13 Jul 2026

Real GDP growth20161.7%

World Bank, World Development Indicators·2016·13 Jul 2026

Real GDP growth20154.7%

World Bank, World Development Indicators·2015·13 Jul 2026

Inflation (CPI)20252.1%

World Bank, World Development Indicators·2025·13 Jul 2026

Inflation (CPI)20241.7%

World Bank, World Development Indicators·2024·13 Jul 2026

Crude oil exports20246.05 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Crude oil exports20236.66 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Inflation (CPI)20232.3%

World Bank, World Development Indicators·2023·13 Jul 2026

Inflation (CPI)20222.5%

World Bank, World Development Indicators·2022·13 Jul 2026

Inflation (CPI)20213.1%

World Bank, World Development Indicators·2021·13 Jul 2026

Inflation (CPI)20203.4%

World Bank, World Development Indicators·2020·13 Jul 2026

Inflation (CPI)2019-1.2%

World Bank, World Development Indicators·2019·13 Jul 2026

Inflation (CPI)20182.5%

World Bank, World Development Indicators·2018·13 Jul 2026

Inflation (CPI)2017-0.8%

World Bank, World Development Indicators·2017·13 Jul 2026

Inflation (CPI)20162.1%

World Bank, World Development Indicators·2016·13 Jul 2026

Inflation (CPI)20151.2%

World Bank, World Development Indicators·2015·13 Jul 2026

Population202536.97 mn

World Bank, World Development Indicators·2025·13 Jul 2026

Population202435.3 mn

World Bank, World Development Indicators·2024·13 Jul 2026

Refining capacity20243.29 mb/d

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Population202333.7 mn

World Bank, World Development Indicators·2023·13 Jul 2026

Refining capacity20233.29 mb/d

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Population202232.18 mn

World Bank, World Development Indicators·2022·13 Jul 2026

Population202130.78 mn

World Bank, World Development Indicators·2021·13 Jul 2026

Population202031.55 mn

World Bank, World Development Indicators·2020·13 Jul 2026

Population201930.06 mn

World Bank, World Development Indicators·2019·13 Jul 2026

Population201830.2 mn

World Bank, World Development Indicators·2018·13 Jul 2026

Population201730.98 mn

World Bank, World Development Indicators·2017·13 Jul 2026

Population201630.95 mn

World Bank, World Development Indicators·2016·13 Jul 2026

Population201529.82 mn

World Bank, World Development Indicators·2015·13 Jul 2026

Unemployment rate (total)2025 (estimate)3%

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026

Proven natural gas reserves20249,727 bcm

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Unemployment rate (total)2024 (estimate)3.5%

World Bank, World Development Indicators·2024(estimate)·13 Jul 2026

Proven natural gas reserves20239,651 bcm

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Unemployment rate (total)2023 (estimate)4%

World Bank, World Development Indicators·2023(estimate)·13 Jul 2026

Unemployment rate (total)2022 (estimate)5.6%

World Bank, World Development Indicators·2022(estimate)·13 Jul 2026

Unemployment rate (total)2021 (estimate)6.6%

World Bank, World Development Indicators·2021(estimate)·13 Jul 2026

Unemployment rate (total)2020 (estimate)7.7%

World Bank, World Development Indicators·2020(estimate)·13 Jul 2026

Unemployment rate (total)2019 (estimate)5.6%

World Bank, World Development Indicators·2019(estimate)·13 Jul 2026

Unemployment rate (total)2018 (estimate)6%

World Bank, World Development Indicators·2018(estimate)·13 Jul 2026

Unemployment rate (total)2017 (estimate)5.9%

World Bank, World Development Indicators·2017(estimate)·13 Jul 2026

Unemployment rate (total)2016 (estimate)5.6%

World Bank, World Development Indicators·2016(estimate)·13 Jul 2026

Unemployment rate (total)2015 (estimate)5.6%

World Bank, World Development Indicators·2015(estimate)·13 Jul 2026

Unemployment rate (nationals)Q1 20266.4%

Arab News· Tier 2 · reputable press·Q1 2026·30 Jun 2026

Unemployment rate (nationals)Q4 20257.2%

Saudi Press Agency·Q4 2025·31 Mar 2026

Labour force participation (total)2025 (estimate)65.1%

World Bank, World Development Indicators·2025(estimate)·13 Jul 2026

Labour force participation (total)2024 (estimate)65.2%

World Bank, World Development Indicators·2024(estimate)·13 Jul 2026

Marketed natural gas production2024102.9 bcm

OPEC Annual Statistical Bulletin·2024·2 Jul 2025

Marketed natural gas production202397.7 bcm

OPEC Annual Statistical Bulletin·2023·2 Jul 2025

Labour force participation (total)2023 (estimate)65.3%

World Bank, World Development Indicators·2023(estimate)·13 Jul 2026

Labour force participation (total)2022 (estimate)63.8%

World Bank, World Development Indicators·2022(estimate)·13 Jul 2026

Labour force participation (total)2021 (estimate)63.5%

World Bank, World Development Indicators·2021(estimate)·13 Jul 2026

Labour force participation (total)2020 (estimate)62.4%

World Bank, World Development Indicators·2020(estimate)·13 Jul 2026

Labour force participation (total)2019 (estimate)61.2%

World Bank, World Development Indicators·2019(estimate)·13 Jul 2026

Labour force participation (total)2018 (estimate)59.4%

World Bank, World Development Indicators·2018(estimate)·13 Jul 2026

Labour force participation (total)2017 (estimate)59%

World Bank, World Development Indicators·2017(estimate)·13 Jul 2026

Labour force participation (total)2016 (estimate)60.7%

World Bank, World Development Indicators·2016(estimate)·13 Jul 2026

Labour force participation (total)2015 (estimate)59.7%

World Bank, World Development Indicators·2015(estimate)·13 Jul 2026

Labour force participation (nationals)Q1 202649%

Arab News· Tier 2 · reputable press·Q1 2026·30 Jun 2026

Labour force participation (nationals)Q4 202549.5%

Saudi Press Agency·Q4 2025·31 Mar 2026

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Sources

  1. World Bank, World Development Indicators · data.worldbank.org
  2. OPEC Annual Statistical Bulletin · opec.org
  3. Arab News · arabnews.com · Tier 2 · reputable press
  4. Saudi Press Agency · spa.gov.sa