Nominal General Government Final Consumption Expenditure for Saudi Arabia
NCGGNSAXDCSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
245,318.00
Year-over-Year Change
33.63%
Date Range
1/1/2005 - 1/1/2025
Summary
The Nominal General Government Final Consumption Expenditure for Saudi Arabia measures the value of goods and services consumed by the Saudi government. This metric is important for assessing the fiscal policies and economic conditions of the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the total value of final consumption expenditures made by the general government of Saudi Arabia. It encompasses spending on both individual and collective services provided to the public, serving as a key indicator of government activity and economic policy.
Methodology
The data is collected and calculated by the World Bank based on national accounts information.
Historical Context
Policymakers and analysts use this metric to evaluate the Saudi government's fiscal stance and its impact on the broader economy.
Key Facts
- Saudi Arabia's government consumption expenditure was $233 billion in 2021.
- Government consumption accounts for approximately 20% of Saudi Arabia's GDP.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of final consumption expenditures made by the general government of Saudi Arabia, including spending on both individual and collective services.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the fiscal policies and economic conditions of Saudi Arabia, as government consumption is a significant component of the country's GDP.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the Saudi government's fiscal stance and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is subject to the timely release of national accounts information by the Saudi government.
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Citation
U.S. Federal Reserve, Nominal General Government Final Consumption Expenditure for Saudi Arabia (NCGGNSAXDCSAQ), retrieved from FRED.