Industry in Saudi Arabia
Saudi Arabia - Industry
While the non-oil economy performed strongly in the second quarter, mainly reflecting bolder government support, the non-hydrocarbon PMI for July suggests that it is losing some momentum in the third quarter. Businesses are concerned that the recent downward trend in oil prices could reduce government support further down the road. Volatility in the oil market could also force Saudi Arabia to deepen ongoing production cuts in order to support oil prices, especially now that the government has revived much-anticipated plans to sell a 5% share of state oil giant Aramco. Moreover, despite stronger economic dynamics in the non-oil sector, job creation remains subdued, highlighting that the government’s reform program is failing to spur job creation among Saudi nationals in the private sector.Saudi Arabia - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 0.2 | 3.1 | 5.0 | 2.3 | -2.4 |
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.49 | 0.0 % | Jun 23 |
| Exchange Rate | 3.75 | 0.0 % | Sep 04 |
| Stock Market | 0.2 | 1.00 % | Sep 04 |
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Economic News
Saudi Arabia: Non-oil PMI rises in August
September 3, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, rose from July’s 56.6 to 57.0 in August.
Saudi Arabia: Trade tensions and weak global economic data continue to weigh on oil prices in August
August 27, 2019
Oil prices continued to tumble in recent weeks and almost erased the gains made in January–May.
Saudi Arabia: Consumer prices decline at softest pace in seven months in July
August 27, 2019
Consumer prices rose 0.1% over the previous month in July, following June’s 0.2% increase.
Saudi Arabia: Non-oil PMI softens in July but remains well in positive territory
August 8, 2019
The Purchasing Managers’ Index (PMI), produced by IHS Markit, fell from June’s 57.4 to 56.6 in July and marked the lowest reading since February.
Saudi Arabia: Drop in consumer prices continues to moderate in June
July 23, 2019
Consumer prices rose 0.2% over the previous month in June, following May’s 0.1% increase.
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