3.8 MIDDLE EAST - Saudi Arabia

According to information released by the State Statistics Bureau of Saudi Arabia, in 2020, both the state-owned and private economy of Saudi Arabia developed, and the non-oil sector also achieved specific growth. However, due to the unsatisfactory oil price, the overall performance of the oil sector was poor. Nominal GDP shrank by 4.1%. Saudi Arabia’s per capita GDP fell below US$ 20,000 in 2020.