Current Account in Saudi Arabia

Saudi Arabia Current Account (USD bn) | Economic News & Forecasts

Saudi Arabia - Current Account (billions of U.S. Dollars)

A detailed GDP release confirmed that the economy expanded in Q2. The non-oil sector led the way, powered by stronger private sector growth and a rebound in government spending. Meanwhile, the oil sector contracted at a noticeably softer rate in Q2, in line with OPEC+’s decision to gradually ease output cuts since May. Turning to Q3, GDP growth will have likely gained momentum amid a continued increase in oil production. In August, average daily crude oil output hit the highest level since April 2020, after having jumped significantly in July, and it is expected to have increased further in September as OPEC+ continues to reduce its production curtailments, boding well for the energy sector. That said, although the private sector PMI remained firmly in expansionary territory in July–August, the non-oil sector will have likely lost some steam in Q3 due to a less favorable base effect.

Saudi Arabia - Current Account (USD bn) Data

2015   2016   2017   2018   2019  
Current Account Balance (USD bn)-56.7  -23.8  10.5  70.6  49.8  

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Saudi Arabia Facts

Value Change Date
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Dec 31
Stock Market0.21.00 %Jan 07

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