Gross Domestic Product Per Capita for Saudi Arabia
PCAGDPSAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,057.23
Year-over-Year Change
22.01%
Date Range
1/1/1960 - 1/1/2024
Summary
Gross Domestic Product (GDP) per capita for Saudi Arabia measures the total economic output divided by the country's population. It is a key indicator of a nation's standard of living and economic 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
GDP per capita is a widely used metric that allows for comparisons of economic productivity and prosperity between countries. It provides insight into the overall wealth and development of a nation's economy and is closely tracked by economists, policymakers, and international organizations.
Methodology
The data is calculated by the World Bank by dividing the country's GDP by its midyear population.
Historical Context
GDP per capita is a valuable data point for evaluating the economic performance and development strategies of Saudi Arabia and other countries.
Key Facts
- Saudi Arabia's GDP per capita was $23,337 in 2021.
- GDP per capita in Saudi Arabia has grown by over 50% since 2000.
- Saudi Arabia ranks 25th globally in GDP per capita.
FAQs
Q: What does this economic trend measure?
A: Gross Domestic Product (GDP) per capita for Saudi Arabia measures the total economic output of the country divided by its population, providing a gauge of the nation's standard of living and economic development.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a crucial indicator for evaluating the overall economic performance and productivity of a country. It allows for comparisons between nations and is closely tracked by economists, policymakers, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank by dividing Saudi Arabia's GDP by its midyear population.
Q: How is this trend used in economic policy?
A: GDP per capita is used by policymakers, institutions, and analysts to assess the economic development, wealth, and living standards of Saudi Arabia compared to other countries. It informs policy decisions and strategies aimed at promoting economic growth and improving the nation's prosperity.
Q: Are there update delays or limitations?
A: The GDP per capita data for Saudi Arabia is published annually by the World Bank with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Saudi Arabia (PCAGDPSAA646NWDB), retrieved from FRED.