Saudi Arabia GDP: $2.697 trillion

World Economics estimates Saudi Arabia's 2024 GDP at $2.697 trillion in PPP terms (Purchasing Power Parity) and an initial estimate of $2.821 trillion for 2025. This figure is 42% higher than the official estimate published by the World Bank.

World Economics' methodology incorporates crucial factors often overlooked in official estimates, such as:

• The size of the informal economy: It is estimated that 23% of Saudi Arabia's economic activity occurs outside the formal sector.
• Outdated GDP base year data: Many countries use outdated base years for their GDP calculations, leading to an underestimation of economic growth. Saudi Arabia uses a 13 year old GDP base year.

By adjusting for these factors where required, World Economics provides a more accurate picture of Saudi Arabia's true economic size and potential.

For reference, offical data reported Saudi Arabia's GDP as $1.068 trillion in 2015 constant prices and $1.068 trillion in current prices for 2023.

Data source: World Economics Research, London