Saudi Arabia is the largest economy in the Middle East, with a nominal GDP of approximately $1.39 trillion and a population of 35 million. The Saudi Riyal is pegged to the US dollar at 3.75 SAR per dollar, providing currency stability and investor confidence.
The Kingdom has successfully transformed its economy beyond oil, with the non-oil sector now representing 76 percent of GDP. Key growth drivers include wholesale and retail trade (12.3% of economic activity), manufacturing excluding oil refining (11.1%), and construction (8%). The National Industrial Development and Logistics Program contributed $262.8 billion to non-oil GDP in 2024, underscoring Vision 2030's diversification progress.
Saudi Arabia maintains strong trade relationships, with major partners including China ($57.6 billion in 2024 exports), South Korea ($31.5 billion), India ($30.8 billion), Japan ($29.8 billion), and the UAE ($18.7 billion). While mineral fuels remain the primary export at 70–74% of total value, the economy achieved 4.5 percent real growth in 2025, with non-oil activities expanding 4.9 percent year-on-year.
Strategically, Saudi Arabia is advancing renewable energy infrastructure (20 gigawatts initiated in 2024) and leveraging Vision 2030 investments. Within BRICS, the Kingdom strengthens regional integration, energy security, and capital mobilization, serving as a bridge between energy-dependent economies and emerging markets.
