Saudi Arabia: GDP, PPP (constant 2021 international $)
In , Saudi Arabia's GDP, PPP (constant 2021 international $) was $2.22 trillion.
That's up 2.0% from 2023, the highest value on record.
The global average for this indicator in 2024 was $911.15 billion . Saudi Arabia ranks #17 globally out of 188 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #1 of 19.
Source: World Bank Open Data (NY.GDP.MKTP.PP.KD) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- $2.22T
- Trough
- $1.13T
- 1-year change
- +2.0%
- 5-year change
- +17.7%
- +3.3% / yr
- 10-year change
- +33.0%
- +2.9% / yr
Historical Data — Last 10 Years
| Year | GDP, PPP (constant 2021 international $) |
|---|---|
| 2.217T | |
| 2.173T | |
| 2.161T | |
| 1.930T | |
| 1.812T | |
| 1.883T | |
| 1.853T | |
| 1.795T | |
| 1.774T | |
| 1.744T |
About GDP, PPP (constant 2021 international $)
This indicator provides values for gross domestic product (GDP) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Indicator code: NY.GDP.MKTP.PP.KD • Category: Economy
Frequently asked questions
- What was Saudi Arabia's GDP, PPP (constant 2021 international $) in 2024?
- In 2024, Saudi Arabia's GDP, PPP (constant 2021 international $) was $2.22 trillion, according to World Bank Open Data.
- Is Saudi Arabia's GDP, PPP (constant 2021 international $) rising or falling?
- Saudi Arabia's GDP, PPP (constant 2021 international $) rose 2.0% from 2023 to 2024.
- How does Saudi Arabia rank globally on GDP, PPP (constant 2021 international $)?
- In 2024, Saudi Arabia ranked #17 out of 188 countries reporting GDP, PPP (constant 2021 international $).
- How does Saudi Arabia's GDP, PPP (constant 2021 international $) compare to the world average?
- The global average for GDP, PPP (constant 2021 international $) in 2024 was $911.15 billion, so Saudi Arabia is above the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #1 of 19.
- What is GDP, PPP (constant 2021 international $) and how is it measured?
- This indicator provides values for gross domestic product (GDP) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.
Source: World Bank Open Data (NY.GDP.MKTP.PP.KD), CC BY 4.0.