Exports in Saudi Arabia
Saudi Arabia - ExportsA 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 - Exports Data
|Exports (USD billion)||204||184||222||294||262|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Exports Chart
Source: Central Department of Statistics and Information.
Saudi Arabia Facts
|Bond Yield||2.49||0.0 %||Jun 23|
|Exchange Rate||3.75||0.0 %||Dec 31|
|Stock Market||0.2||1.00 %||Jan 07|
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October 1, 2021
On 1 October, the OPEC oil basket traded at USD 77.7 per barrel, up 9.1% from the prior month.
September 16, 2021
Consumer prices increased 0.07% over the previous month in August, weaker than July’s 0.15% rise.
September 5, 2021
The Purchasing Managers’ Index (PMI), produced by IHS Markit, came in at 54.1 in August, which was down from July’s 55.8.
August 15, 2021
Consumer prices increased 0.20% over the previous month in July, marginally stronger than June’s 0.15% rise.
August 9, 2021
A flash estimate showed the economy grew 1.5% on an annual basis in the second quarter, after contracting 3.0% in the first quarter.