Source: world bank Nominal/PPP
Summary:
Saudi Arabia GDP Per Capita expanded from 1960 to 2024, increasing from $717.80 to $35,121.66 .The compound annual growth rate (CAGR) averaged 6.27% over the period. The economy recorded its peak level in 2022 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 68.07%, indicating the largest cyclical decline from peak levels. The country experienced 10 recession episode(s) during the observed period.
Saudi Arabia Economic Phases (1960 - 2024)
From 1960 to 2024, Saudi Arabia economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1961–1962) indicating robust economic expansion
- High Growth (1965–1968) indicating robust economic expansion
- High Growth (1970–1974) indicating robust economic expansion
- High Growth (1976–1977) indicating robust economic expansion
- High Growth (1979–1981) indicating robust economic expansion
- Crisis (1982–1986) indicating severe economic downturn
- Contraction (1987–1988) indicating temporary slowdown
- High Growth (1990–1991) indicating robust economic expansion
- Contraction (1992–1994) indicating temporary slowdown
- High Growth (1999–2000) indicating robust economic expansion
- Contraction (2001–2002) indicating temporary slowdown
- High Growth (2003–2008) indicating robust economic expansion
- High Growth (2010–2012) indicating robust economic expansion
- Contraction (2013–2014) indicating temporary slowdown
- High Growth (2017–2018) indicating robust economic expansion
- High Growth (2021–2022) indicating robust economic expansion
- Contraction (2023–2024) indicating temporary slowdown
The most remarkable growth occurred in 1974 with an increase of 188.549%, while the largest decline was in 1982 at -21.771%.