Industry in Saudi Arabia
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 |
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.49 | 0.0 % | Jun 23 |
| Exchange Rate | 3.75 | 0.0 % | Apr 12 |
| Stock Market | 0.2 | 1.00 % | Apr 10 |
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Economic News
Saudi Arabia: Non-oil PMI climbs to 15-month high in March
April 7, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 56.6 in February to 56.8 in March.
Saudi Arabia: OPEC+ output cuts continue to boost oil prices
April 1, 2019
The recovery in oil prices that started in late December—after they had sunk to a nearly six-month low—continued in recent weeks, supported by oil production cuts implemented by OPEC and key non-OPEC members.
Saudi Arabia: Stronger oil production boosts GDP in Q4 2018
April 1, 2019
Saudi Arabia’s economy expanded at the fastest pace in three years in the fourth quarter of 2018 on the back of increased oil supply.
Saudi Arabia: Stronger oil production boosts GDP in Q4 2018
March 31, 2019
Saudi Arabia’s economy expanded at the fastest pace in three years in the fourth quarter of 2018 on the back of increased oil supply.
Saudi Arabia: Consumer prices decline further in February
March 19, 2019
Consumer prices fell 0.2% over the previous month in February, following January’s 0.3% decline.
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