Current Account in Saudi Arabia

Saudi Arabia Current Account | Economic News & Forecasts

Saudi Arabia - Current Account

In 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

2013  2014  2015  2016  2017  
Current Account (% of GDP)18.1  9.8  -8.7  -3.7  2.2  

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Saudi Arabia Current Account Chart


Saudi Arabia Current Account
Note: Current account balance as % of GDP.
Source: Central Department of Statistics and Information.

Saudi Arabia Facts

ValueChangeDate
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Mar 11
Stock Market0.21.00 %Mar 11

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