Saudi Arabia GDP Growth Rate

The Gross Domestic Product (GDP) in Saudi Arabia expanded 4.70 percent in the fourth quarter of 2013 over the same quarter, previous month. GDP Growth Rate in Saudi Arabia is reported by the Central Department Of Statistics & Information. GDP Growth Rate in Saudi Arabia averaged 5.27 Percent from 1969 until 2013, reaching an all time high of 27.49 Percent in the fourth quarter of 1974 and a record low of -11.10 Percent in the fourth quarter of 1982. Saudi Arabia has an oil-based economy. Shipments of oil account for 87 percent of total exports and for 46 percent of GDP. In recent years, in order to diversify the economy, the government has been investing in telecommunications, petrochemicals, natural gas exploitation and power generation sectors. This page provides - Saudi Arabia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
4.70 4.00 27.49 -11.10 3.76 | 2014/03 1969 - 2013 Percent Quarterly

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Saudi Arabia GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 323164.00 2013-11-15 318194.00 323164.00 285706.00 328653.40 2014-03-31 SAR Million [+]
Gross Fixed Capital Formation 175843.00 2013-11-15 153142.00 175843.00 101572.00 177670.64 2014-03-31 SAR Million [+]
GDP per capita 13944.97 2011-12-31 13301.38 22402.94 9621.11 13990.53 2012-12-31 USD [+]
GDP per capita PPP 21677.86 2011-12-31 20677.38 33759.01 18280.19 21739.44 2012-12-31 USD [+]
GDP Growth Rate 4.70 2013-12-31 4.00 27.49 -11.10 3.76 2014-03-31 Percent [+]
GDP Annual Growth Rate 4.70 2013-12-31 4.00 27.49 -11.10 3.88 2014-03-31 Percent [+]
GDP 576.82 2011-12-31 450.79 576.82 4.19 585.45 2012-12-31 USD Billion [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Saudi Arabia Inflation Rate at 2.60 Percent  
The inflation rate in Saudi Arabia was recorded at 2.60 percent in March of 2014. Inflation Rate in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
Saudi Arabia Crude Oil Production at 9840.00 Thousands Barrels per Day  
Crude Oil Production in Saudi Arabia decreased to 9840 Thousands Barrels per Day in October of 2013 from 10140 Thousands Barrels per Day in September of 2013. Crude Oil Production in Saudi Arabia is reported by the U.S. Energy Information Administration.
Saudi Arabia Changes in Inventories at 288.00 SAR Million  
Changes in Inventories in Saudi Arabia decreased to 288 SAR Million in the fourth quarter of 2013 from 28756 SAR Million in the third quarter of 2013. Changes in Inventories in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
Saudi Arabia Consumer Price Index (CPI) at 128.80 Index Points  
Consumer Price Index (CPI) in Saudi Arabia increased to 128.80 Index Points in February of 2014 from 128.70 Index Points in January of 2014. Consumer Price Index (CPI) in Saudi Arabia is reported by the Ministry of Economy and Planning.
Saudi Arabia Consumer Spending at 213128.00 SAR Million  
Consumer Spending in Saudi Arabia increased to 213128 SAR Million in the fourth quarter of 2013 from 209332 SAR Million in the third quarter of 2013. Consumer Spending in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
Saudi Arabia GDP Constant Prices at 323164.00 SAR Million  
GDP Constant Prices in Saudi Arabia increased to 323164 SAR Million in the fourth quarter of 2013 from 318194 SAR Million in the third quarter of 2013. GDP Constant Prices in Saudi Arabia is reported by the Central Department Of Statistics & Information.
Saudi Arabia Government Spending at 150562.00 SAR Million  
Government Spending in Saudi Arabia increased to 150562 SAR Million in the fourth quarter of 2013 from 150472 SAR Million in the third quarter of 2013. Government Spending in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
Saudi Arabia Gross Fixed Capital Formation at 175843.00 SAR Million  
Gross Fixed Capital Formation in Saudi Arabia increased to 175843 SAR Million in the fourth quarter of 2013 from 153142 SAR Million in the third quarter of 2013. Gross Fixed Capital Formation in Saudi Arabia is reported by the Central Department Of Statistics & Information.
Saudi Arabia Balance of Trade at 231276.03 Million SAR  
Saudi Arabia recorded a trade surplus of 231276.03 Million SAR in the fourth quarter of 2013. Balance of Trade in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
Saudi Arabia Imports at 137786.10 Million SAR  
Imports in Saudi Arabia decreased to 137786.10 Million SAR in the fourth quarter of 2013 from 139070.67 Million SAR in the third quarter of 2013. Imports in Saudi Arabia is reported by the Saudi Arabian Monetary Agency.
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