Real GDP at Constant National Prices for Saudi Arabia
RGDPNASAA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,649,509.25
Year-over-Year Change
45.67%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Saudi Arabia' trend measures the inflation-adjusted gross domestic product of Saudi Arabia, a key economic indicator for monitoring the country's economic growth and development.
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 real, or inflation-adjusted, GDP of Saudi Arabia, the largest economy in the Gulf Cooperation Council. It is a widely-used metric for assessing the overall health and trajectory of the Saudi economy over time.
Methodology
The data is collected and calculated by the World Bank based on national accounts statistics.
Historical Context
Policymakers and analysts closely monitor this trend to gauge the performance of the Saudi economy and inform economic and fiscal policies.
Key Facts
- Saudi Arabia is the largest economy in the Middle East.
- Real GDP growth in Saudi Arabia averaged 3.4% from 2010-2019.
- The oil sector accounts for about 50% of Saudi Arabia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product of Saudi Arabia, a key indicator of the overall size and performance of the Saudi economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is highly relevant for economists, policymakers, and investors as it provides insight into the health and growth trajectory of the Saudi economy, the largest in the Gulf region.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official national accounts statistics provided by the Saudi government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend to gauge the performance of the Saudi economy and inform economic, fiscal, and monetary policies in the country and the broader Gulf region.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting, as the underlying national accounts data can take time to compile and publish. Additionally, the data may not capture all informal economic activity in the country.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Saudi Arabia (RGDPNASAA666NRUG), retrieved from FRED.