Output-side Real GDP at chained Purchasing Power Parities for Saudi Arabia
RGDPOSSAA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,775,962.38
Year-over-Year Change
78.65%
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 a more accurate comparison of economic output across countries.
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
The output-side real GDP at chained PPPs for Saudi Arabia is a measure of the country's economic production, adjusted to account for differences in domestic price levels. This allows for better international comparisons of economic activity and living standards.
Methodology
The data is calculated by the World Bank using national accounts information and PPP conversion factors.
Historical Context
This trend is widely used by economists, policymakers, and international institutions to analyze Saudi Arabia's economic performance and benchmark it against other countries.
Key Facts
- Saudi Arabia's output-side real GDP at chained PPPs was $1.84 trillion in 2021.
- This metric grew by 3.2% in 2021 after a 4.1% contraction in 2020.
- Saudi Arabia has the largest economy in the Middle East region.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real gross domestic product (GDP) of Saudi Arabia, adjusted for differences in domestic price levels using purchasing power parity (PPP) exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of Saudi Arabia's economic output and living standards relative to other countries, which is useful for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information and PPP conversion factors.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists, policymakers, and international institutions to analyze Saudi Arabia's economic performance and benchmark it against other countries.
Q: Are there update delays or limitations?
A: The data is subject to occasional revisions and may have a delay of several months before the latest figures are published.
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Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for Saudi Arabia (RGDPOSSAA666NRUG), retrieved from FRED.