Output-side Real GDP at Current Purchasing Power Parities for Saudi Arabia
CGDPOSSAA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,749,947.63
Year-over-Year Change
78.64%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of Saudi Arabia, adjusted for purchasing power parity (PPP). It provides insight into the overall size and productivity of the Saudi Arabian economy.
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
Real GDP at current PPPs represents the size of a country's economy in real terms, taking into account differences in the cost of living between countries. This metric is widely used by economists and policymakers to compare economic performance across nations.
Methodology
The data is calculated by the World Bank using national accounts information and PPP exchange rates.
Historical Context
Policymakers and analysts use this trend to assess Saudi Arabia's economic growth and competitiveness relative to other major economies.
Key Facts
- Saudi Arabia's real GDP at current PPPs was $1.8 trillion in 2021.
- Saudi Arabia has the largest economy in the Middle East region.
- Real GDP growth in Saudi Arabia averaged 3.3% annually from 2010-2020.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services produced in Saudi Arabia, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of Saudi Arabia's economic size and performance relative to other major economies, enabling better analysis of its competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information and purchasing power parity (PPP) exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this real GDP at PPP metric to assess Saudi Arabia's overall economic growth, productivity, and competitiveness compared to peer countries, informing policy decisions.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the time required to collect and process the necessary national accounts information.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Saudi Arabia (CGDPOSSAA666NRUG), retrieved from FRED.