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Saudi Arabia’s External Debt to GDP Ratio (2010 - 2020, %)

  • Saudi Arabia’s external debt in relation to its GDP was 34.1% in 2020 
  • External debt as a % of GDP of Saudi Arabia increased by 45.0% from the previous year in 2020 
  • Between 2010 to 2020, the external debt as a % of GDP in Saudi Arabia was highest in 2020 with 34.1% and was lowest in 2014 with 7.9% 


Saudi Arabia External Debt as a % of GDP Highlights in 2020 

Saudi Arabia’s external debt as a % of GDP hit 34.1% in 2020, an increase of 45.0% over the previous year. Between 2010 to 2020, Saudi Arabia’s external debt as a % of GDP increased by 120.1%.  

According to the IMF, general government gross debt was 32.4% of GDP in 2020, due to the outbreak of the COVID19 pandemic and the government undertaking various stimulus measures. General government gross debt decreased to 30% of GDP in 2021 and is forecast to narrow down to 24.1% of GDP in 2022.

Outlook on Global Economy 

Real GDP is measured using inflation-adjusted base year prices. Real GDP changes are a measure of economic growth and show whether there has been an increase or decrease in the volume of economic activity. 

According to real GDP, the world's top five economies are the United States, China, Japan, Germany, and India. After the US, China had the largest real GDP in 2021 with a value of $12.7 trillion in 2021. With a $6 trillion real GDP during the same period, Japan came in third place globally. Germany and India are the other two largest leading economies, with real GDPs of $3.8 trillion and $2.9 trillion, respectively. 

Factors Affecting the Global Economy: 

A rise in COVID-19 cases:  

As a result of Omicron, a new variant of COVID-19, more cases have been reported worldwide, resulting in the disruption of supply chain management. However, the global vaccination drive has reduced the fatality rate from the coronavirus.   

Rising Inflation and Interest Rates:  

As a result of rising inflation rates in both developing and advanced economies, central banks have been forced to tighten monetary policy and raise interest rates to keep prices from rising. However, a steady increase in interest rates could cause financial distress in some economies. 

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