Country Forecast Saudi Arabia 2nd Quarter 2023

[...]the proportion of the population that is of working age will continue to rise. Fact sheet Annual data 2022a Historical averages (%) 2018-22 Population (m) 34.9 Population growth 1,4 GDP (US$ m; market exchange rate) 1,108,149 Real GDP growth 2.4 GDP (US$ bn; purchasing power parity) 2,123 Real...

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Bibliographic Details
Format:	Dataset
Language:	eng
Subjects:	Consumption Diversification Expatriates Foreign exchange rates GDP Gross Domestic Product Hydrocarbons Local elections Mohammed bin Salman, Prince of Saudi Arabia Politics Population growth Productivity Purchasing power parity Sovereign wealth funds Tax rates Tourism
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Summary:	[...]the proportion of the population that is of working age will continue to rise. Fact sheet Annual data 2022a Historical averages (%) 2018-22 Population (m) 34.9 Population growth 1,4 GDP (US$ m; market exchange rate) 1,108,149 Real GDP growth 2.4 GDP (US$ bn; purchasing power parity) 2,123 Real domestic demand growth 2.6 GDP per head (US$; market exchange rate) 31,756b Inflation 1.9 GDP per head (US$; purchasing power parity) 60,845b Current-account balance (% of GDP) 5.7 Exchange rate (av) SR: The support of the clergy, and the preservation and adoption of a puritanical interpretation of Sunni Islam (unofficially known as Wahhabism, after a leading 18th-century cleric, Mohammed ibn Abd al-Wahhab) are the traditional cornerstones of the Al Saud family's legitimacy. Since the beginning of large-scale oil production in the mid-20th century, the distribution of oil revenue has helped to strengthen the Al Sauds' grip on power. [...]export earnings are extremely volatile, with large swings as international oil prices change.
ISSN:	0966-873X 2048-9617