Exports in Saudi Arabia

Saudi Arabia Exports (%) | Economic News & Forecasts

Saudi Arabia - Exports (percent change)

GDP expanded for the first time since Q2 2019 in the second quarter of this year, according to a flash estimate. The rebound was primarily the result of a weaker contraction in the oil sector, which was consistent with OPEC+’s decision to ease output cuts since May. Moreover, growth in the non-oil sector surged in the second quarter. The real estate market, wholesale and retail trade, and the manufacturing sectors were particularly strong in Q2. Turning to Q3, GDP growth should be gaining steam as OPEC+’s commitment to lower production cuts continues to fuel the oil sector: Crude oil output hit the highest level since April 2020 in July, and it should remain on the up in the rest of the quarter. Meanwhile, the non-oil private sector PMI remained comfortably in expansionary territory in July and August, signaling strong growth in the non-oil economy.

Saudi Arabia - Exports (%) Data

2015   2016   2017   2018   2019  
Exports (annual variation in %)-40.6  -9.8  20.9  32.7  -11.2  

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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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