Industry in Saudi Arabia

Saudi Arabia Industry | Economic News & Forecasts

Saudi Arabia - Industry

Activity in the non-oil sector gained steam at the outset of the first quarter, mostly due to improving domestic orders, while oil prices continued to rise in recent weeks thanks to OPEC’s strong compliance to the oil production curbs. However, job creation remained subdued, highlighting the inability of the government to boost employment for Saudis. On 28 March, official sources corroborated that state-owned energy giant Aramco will issue its first-ever international bond, perhaps as soon as this week, which is expected to amount to USD 10 billion. The issuance will force Aramco to disclose financial statements for the first time since its creation in 1988 and will be used to fund the acquisition of the also state-controlled petrochemicals company Sabic for around USD 70 billion. Aramco’s purchase of Sabic will fill the coffers of the country’s sovereign wealth fund used to promote the Saudi Vision 2030.

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

Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Apr 12
Stock Market0.21.00 %Apr 10

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