Saudi Arabia’s economy explained. Saudi Arabia’s labor market, standard of living, trade balance in goods, exports and imports, government debt, as well as Saudi Arabia’s real GDP growth rate are presented.
GDP = C + I + G + NX (Gross Domestic Product = Consumption + Investment + Government spending + Net Exports)
GNI (Gross National Income) explained
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Sources:
GDP (current US$, 2020):
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Population
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GNI per capita, Atlas method (2020, current US$):
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Unemployment Rate
In Saudi Arabia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
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Employment in agriculture, industry and services
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Exports, Imports, Trade balance - 2020 data derived from the ITC (International Trade Centre):
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Saudi Arabia’s Top 10 Exports
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Government Debt-to-GDP Ratio
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Economic Growth
International Monetary Fund - World Economic Outlook, October 2021: Recovery During a Pandemic
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