Macro Maps

Saudi Arabia economy at a glance

Latest figures for Saudi Arabia: inflation, growth, interest rates, jobs, bond yields, debt and taxes. Updated . Open Saudi Arabia on the interactive map →

Key figures

IndicatorLatestPeriodPrevious
Inflation (consumer prices, year on year)1.9%September 20261.8% August 2026
Real GDP growth (year on year)−3.8%Q3 2026−4.7% Q2 2026
Policy rate (Saudi Central Bank (SAMA) repo rate; the riyal is pegged to the USD, so SAMA follows the Fed)4.50%November 20264.50% October 2026
Unemployment rate3.0%June 20263.1% March 2026
Manufacturing PMI (Riyad Bank Saudi Arabia PMI (S&P Global): whole non-oil private sector, not manufacturing-only)54.0October 202655.3 September 2026
Industrial production (year on year)−23.5%August 2026−8.3% July 2026
House prices (year on year)1.2%Q3 20261.3% Q2 2026
Stock market (Tadawul All Share Index (TASI))10,095November 2026

Questions and answers

What is the inflation rate in Saudi Arabia?

Saudi Arabia's annual inflation rate was 1.9% in September 2026, up from 1.8% in August 2026.

What is the interest rate in Saudi Arabia?

The Saudi Central Bank (SAMA) repo rate; the riyal is pegged to the USD, so SAMA follows the Fed policy rate is 4.50% (as of November 2026). The next rate decision is due on 9 December 2026.

How fast is Saudi Arabia's economy growing?

Saudi Arabia's real GDP grew −3.8% year on year in Q3 2026. The IMF's October 2026 World Economic Outlook forecasts growth of −3.3% in 2026 and 7.9% in 2027.

What is the unemployment rate in Saudi Arabia?

Saudi Arabia's unemployment rate was 3.0% in June 2026, down from 3.1% in March 2026.

How much government debt does Saudi Arabia have?

Saudi Arabia's government debt is about 31.7% of GDP (latest annual figure), with a budget deficit of 5.3% of GDP.

What is Saudi Arabia's credit rating?

Saudi Arabia's sovereign credit ratings: S&P A+, Moody's Aa3, Fitch A+.

What is the VAT rate in Saudi Arabia?

Saudi Arabia's standard VAT rate is 15% (2026 rules).

What is the corporate tax rate in Saudi Arabia?

Saudi Arabia's corporate income tax rate is 20.0% (2026 rules).

Who leads Saudi Arabia?

Saudi Arabia is led by King Salman bin Abdulaziz (head of state); Crown Prince Mohammed bin Salman (Prime Minister) - as of mid-2026, not re-verified in Oct 2026.

Outlook

The near-term outlook depends on Gulf shipping security. Trading Economics' models expect crude output to recover only to about 9 mb/d by end-2026 and 10.5 mb/d in 2027, and Q3 GDP is likely to show another y/y contraction. Upside: a durable US-Iran settlement reopening Hormuz at still-high prices. Downside: renewed Iranian and Houthi attacks on tankers and Red Sea infrastructure, plus Fed-driven rate hikes (SAMA raised rates in September) that weigh on non-oil credit and the stock market. No IMF/World Bank October forecast could be verified this session.

Why Saudi Arabia matters for the world economy

Saudi Arabia is OPEC+'s swing producer and one of the two largest crude exporters, so its export capacity sets global oil prices. The 2026 Gulf war has shown the risk directly: output fell from about 10.9 mb/d before the war to 6.2 mb/d in August, with only a partial recovery to 8.4 mb/d in September. That supply loss, together with attacks on Hormuz traffic, has helped keep Brent above $100. Asian refiners (China, India, Japan, South Korea) are most exposed to lost volumes, and every oil importer to the price. Saudi Arabia is also a large global investor through the PIF and an EM sovereign issuer, so a wider deficit means more Saudi bond supply.

Politics

Power is concentrated in Crown Prince Mohammed bin Salman, who runs economic policy around the Vision 2030 diversification programme. The US-Iran war that began at the end of February 2026 has made Gulf security the kingdom's central economic problem: a weeks-long closure of Hormuz, attacks on tankers and a September strike on the pipeline feeding the Red Sea port of Yanbu pushed crude output to its lowest since 1990 in August. Since 10 October Houthi missile and drone attacks on airports in Riyadh and Dammam and on Aramco sites have killed at least 17 people and led the US to pull non-essential diplomats, and on 26 October the defence minister led de-escalation talks in Tehran. A non-oil economy close to stalling and a widening deficit strain Vision 2030 spending plans.

System: Absolute monarchy.

Economy and taxes

GDP
US$1,277 billion
Population
35.9 million
Government debt
31.7% of GDP
Budget balance
−5.3% of GDP
Current account
−2.7% of GDP
Main exports
Crude oil, refined petroleum products, polymers/petrochemicals, industrial alcohols, natural gas liquids, fertilisers, aluminium
Top export markets
China (21.5%), India (11.6%), Japan (11.6%), United States (5.5%), Turkey (4.5%)
IMF growth forecast
−3.3% in 2026, 7.9% in 2027
IMF inflation forecast
1.9% in 2026, 2.2% in 2027
Currency
SAR
Freelancer tax
A self-employed person earning the average wage (SAR 68,066 a year) pays about 0.0% of it in income tax and social contributions (2026 rules)
Top income tax rate
0.0%
Gold reserves
323.1 tonnes (August 2026)
Energy self-sufficiency
227% (2024)

Recent news

Headlines and summaries are compiled daily from the linked reports with AI assistance.

Sources