The impact of the COVID-19 pandemic saw growth drop to 0.5% in 2020 and -0.1% in 2021. However, recent efforts to diversify the economy and attract skilled migrants boosted growth to 1.5% in 2023. This recovery highlights the role of strategic policies in revitalizing demographic trends.
For a broader context, visit other statistics on Saudi Arabia’s inflation rate outlook, Saudi Arabia’s working-age population trend, Saudi Arabia’s fertility rate trends.