Industry in Saudi Arabia

Saudi Arabia Industry | Economic News & Forecasts

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  

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Saudi Arabia Facts

ValueChangeDate
Bond Yield2.490.0 %Jun 23
Exchange Rate3.750.0 %Sep 04
Stock Market0.21.00 %Sep 04

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