Relative Performance of Major Economies in 2022
20 May 2023•
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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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