Relative Performance of Major Economies in 2022
Published date : 20 May 2023

Relative Performance of Major Economies in 2022

Saudi Arabia is the 18th largest economy in the world and the second largest in the Middle East. Its GDP has grown at an average annual growth rate of ~8% since the launch of Vision 2030 in 2016, reaching US$ 1 trillion in 2022. Though the Kingdom’s economy shrank by 12.5% in 2020 due to the pandemic, the Kingdom more than recovered past 2019 figures in 2021 and has further grown in 2022 to touch US$ 1 trillion.

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