Current Account in Saudi Arabia
Saudi Arabia - Current AccountIn January, Saudi Arabia continued to lead the voluntary oil production cuts agreed upon with other OPEC and non-OPEC members, with output decreasing by 350,000 barrels per day in the month. While the deal is helping to tighten the global oil market, thereby pushing up oil prices, this is also hitting the performance of the all-important hydrocarbon sector. The non-oil sector, however, is gradually benefiting from the government’s more accommodative fiscal stance, as well from subdued inflation which is supporting private consumption. Meanwhile, in February, Crown Prince Mohammed bin Salman visited China, India and Pakistan, where he signed multibillion investment deals. This is reflective of the Kingdom’s attempts to strengthen ties with Asian nations—counterbalancing cooling relations with the West following the killing of journalist Jamal Khashoggi—as well of efforts to spur its economic transformation program.
Saudi Arabia - Current Account Data
|Current Account (% of GDP)||18.1||9.8||-8.7||-3.7||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Current Account 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 %||Mar 11|
|Stock Market||0.2||1.00 %||Mar 11|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
March 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 56.2 in January to 56.6 in February.
March 3, 2019
Oil prices continued to recover in February as the oil production cuts implemented by OPEC and key non-OPEC members continue to tighten global oil markets.
February 20, 2019
Consumer prices fell 0.3% over the previous month in January, following December’s 0.3% decline.
February 5, 2019
Oil prices recovered briskly in January after they plunged to an over one-year low in late December, with the OPEC oil basket trading at USD 61.2 per barrel on 31 January.
February 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 54.5 in December to 56.2 in January.