Saudi GDP per capita reaches SAR 124,400 by end of 2023

By: Ahmed Falah Al-Jahni

The Kingdom’s GDP per capita surged nearly 50% from 2010 to 2023, reaching around 124,400 Saudi riyals by the end of 2023. This growth reflects Saudi Arabia’s significant economic transformation over the period, marked by substantial GDP expansion and development.
Between 2010 and 2023, Saudi Arabia’s GDP grew by approximately 102%, while population growth registered at around 34%, underscoring a balance between economic growth and improvements in living standards.
In 2010, GDP per capita stood at 82,500 riyals. A sharp rise followed in 2011, with a 22% increase lifting the figure to 100,000 riyals. This upward trend continued in 2012, reaching 106,000 riyals.
From 2013 to 2017, however, GDP per capita declined gradually to 86,500 riyals. This drop reflected broader economic challenges, including fluctuations in energy prices that affected oil-sector growth. In 2018, GDP per capita rebounded by 21% to 105,000 riyals.
A slight dip followed in 2019, bringing the figure to 104,000 riyals. The impact of the COVID-19 pandemic in 2020 caused a further decrease of 17%, with GDP per capita falling to 87,000 riyals. Recovery began in 2021, as the metric rose by 22%, returning to 106,000 riyals.