Oil Real GDP Growth in Constant Prices for Saudi Arabia
SAUNGDPORPCHPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.99
Year-over-Year Change
-406.95%
Date Range
1/1/2000 - 1/1/2025
Summary
This trend measures the real GDP growth rate of the oil sector in Saudi Arabia, adjusting for inflation. It provides insights into the health and performance of the kingdom's critical oil-based 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
The Oil Real GDP Growth in Constant Prices for Saudi Arabia tracks the annual percentage change in the real, inflation-adjusted gross domestic product originating from the oil industry in the country. This metric is widely used by economists and policymakers to assess the productivity and competitiveness of Saudi Arabia's dominant oil sector.
Methodology
The data is collected and calculated by the Saudi Arabian Monetary Authority using national accounts data.
Historical Context
This trend is closely monitored by global energy markets, investors, and international institutions like the IMF to gauge the strength of Saudi Arabia's oil-dependent economy.
Key Facts
- Saudi Arabia is the world's largest exporter of crude oil.
- Oil accounts for over 85% of Saudi government revenue.
- The Saudi economy contracted by 4.1% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percentage change in the real, inflation-adjusted gross domestic product originating from the oil industry in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and performance of Saudi Arabia's dominant oil sector, which is the backbone of the kingdom's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Saudi Arabian Monetary Authority using national accounts data.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by global energy markets, investors, and international institutions like the IMF to gauge the strength of Saudi Arabia's oil-dependent economy.
Q: Are there update delays or limitations?
A: The data is published annually with a delay, and may be subject to revisions by the Saudi authorities.
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Citation
U.S. Federal Reserve, Oil Real GDP Growth in Constant Prices for Saudi Arabia (SAUNGDPORPCHPT), retrieved from FRED.