Industry in Saudi Arabia

Saudi Arabia Industry | Economic News & Forecasts

Saudi Arabia - Industry

The economic recovery continued to gain traction in Q2, with GDP expanding at the fastest pace in one-and-a-half years. The Saudi economy continued to benefit from higher oil prices—which are around 50% above the levels observed last year—and solid crude oil output. Against this backdrop, the government loosened its fiscal stance, which mainly translated into higher handouts and cash transfers to households to offset negative spillovers from subsidy cuts and the introduction of a VAT in January. Despite a soft start to the year, activity in the non-oil sectors is slowly gathering momentum, with the PMI for the non-hydrocarbon sector in July and August hovering above Q2’s average. Saudi Arabia’s solid economic position likely paved the way for JP Morgan to announce, on 26 September, the inclusion of the country into its emerging market government bond indexes next year, which lead Saudi bonds to rally in late September.

Saudi Arabia - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)0.2  3.1  5.0  2.4  -2.3  

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Saudi Arabia Facts

ValueChangeDate
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Oct 18
Stock Market0.21.00 %Oct 17

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