Saudi US Relations
 
The Saudi Economy: 2004 Performance, 2005 Forecast
Key Economic Data and Forecasts

February, 2005

billion SR unless otherwise noted

1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005*
Nominal GDP 503.06 533.50 590.75 617.90 546.64 603.59 706.66 686.30 707.00 797.00 931.80 862.00
    $ Billion Equivalent 134.15 142.27 157.53 164.77 145.77 160.96 188.44 183.01 188.53 212.53 248.48 229.87
    % Change 1.4 6.1 10.7 4.6 -11.5 10.4 17.1 -2.9 3 12.7 16.9 -7.5
Real GDP 
(% Change)		 0.1 0 1.4 2.6 2.8 -0.8 4.9 1.2 0.74 6.4 5.3 4.25
    Oil 0.2 0.27 2.1 -1.4 3.2 -7.5 6.9 -1.2 -5 14.3 5.9 2
    Non-Oil Private Sector 0.7 0.3 1.1 4.6 2.6 4.2 4.3 3.5 4.2 3.4 5.7 6
    Government 0 -0.3 1.3 6.1 1.9 0.9 3.2 1.7 1 1.5 4 4
Male Unemployment

    % of Saudi labor force

 na na na na na 6.66 6.54 6.82 7.57 8.2 8.5 8.8
Population (million persons) 17.72 18.12 18.54 18.96 19.4 19.89 20.85 21.44 22.04 22.67 23.3 24.01
    Saudi 12.98 13.33 13.69 14.06 14.45 14.87 15.59 16.03 16.49 16.96 17.5 18.06
    Non-Saudi 4.74 4.79 4.84 4.9 4.96 5.02 5.26 5.4 5.55 5.71 5.8 5.95
GDP/Capita
(US $)		 7,570 7,851 8,498 8,689 7,513 8,092 9,038 8,538 8,553 9,375 10,664 9,574
Oil Price ($/barrel)
West Texas Intermediate 17.25 18.43 22.14 20.67 14 19.62 30.61 25.76 26.57 29 41.33 35
Saudi Average 14.5 16.05 19.08 17.75 11.3 16.88 26.81 21.84 23.72 27 35.17 30
Current  Account 
($ billion)		 -10.4 -5.33 0.68 0.31 -13.15 0.41 14.32 9.36 11.87 29.66 51.5 30.7

as percent of GDP

 -7.82 -3.74 0.43 0.19 -9.02 0.26 7.6 5.11 6.3 13.96 20.73 13.36
Government Budget Balance -34.79 -27.44 -19.03 -15.77 -48.45 -36.39 22.74 -26.98 -20.5 36 98 7.5
Revenues 128.99 146.5 179.09 205.5 141.61 147.45 258.07 228.16 213 293 393 322.5
Expenditures 163.78 173.94 198.12 221.27 190.06 183.84 235.32 255.14 233.5 257 295 315
Budget balance as percent of GDP -6.9 -5.1 -3.2 -2.6 -8.9 -6 3.2 -3.9 -2.9 4.5 10.5 0.9
Government Domestic Debt 382 443 496 538 634 625 616 640 660 660 614 604

as percent of GDP

 76 83 84 87 116 119 87 93 93 83 66 70
Official Foreign Assets 
($ billion)		 68.51 67.94 78.04 85.98 78.34 69.35 73.45 82.18 77.3 95 128 132.5
Central Bank 47.5 46.1 52.08 58.21 46.63 39.01 40.7 48.28 41.7 57 88 90
Government Pension Funds 21 21.84 25.96 27.77 31.71 30.34 32.75 33.9 35.6 38 40 42.5
Cost of Living (% change) 0.6 4.8 1.3 0 -0.2 -1.2 -1 -0.8 -0.4 0.5   0.20 0.4
 
Source: Samba Financial Group
 

Saudi-US Relations Information Service
A Public Service of the National Council on U.S.-Arab Relations
1730 M Street, Suite 503, NW, Washington, DC 20036
eMail: [email protected] 
Web: http://www.Saudi-US-Relations.org 

Users of the The Saudi-US Relations Information Service are assumed to have read and agreed to 
our terms and conditions and legal disclaimer.

Back to top