International Reserves in Saudi Arabia
Saudi Arabia - International ReservesThe economy was likely hammered in the first quarter due to containment measures weighing on the non-oil private sector, and activity seems set to continue to unravel in the second quarter. The non-oil private sector PMI fell to a survey-record low in March, while crude oil production also edged down in Q1. Turning to Q2, lockdown measures will have kept the tourism and retail sectors depressed, while the non-oil private sector PMI remained in contractionary territory in April. Furthermore, on 12 April OPEC+ producers agreed to cut output at an unprecedented rate starting in May 2020, boding ill for the energy sector. In order to shore up its finances, the government decided to suspend its cost of living allowance starting in June 2020 and also tripled its value-added tax to 15% starting in July this year, which will drag on private consumption ahead.
Saudi Arabia - International Reserves Data
|International Reserves (USD)||616||536||496||496||499|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Facts
|Bond Yield||2.49||0.0 %||Jun 23|
|Exchange Rate||3.75||0.0 %||Dec 31|
|Stock Market||0.2||1.00 %||Jan 07|
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July 5, 2020
The Purchasing Managers’ Index (PMI), produced by IHS Markit, decreased to 47.7 in June from 48.1 in May.
July 3, 2020
Oil prices recovered noticeably over the past month, hitting a roughly four-month high, as production cuts in May–June curtailed supply and easing lockdown measures in most parts of the world supported demand prospects.
June 30, 2020
The economy contracted for the third consecutive quarter in Q1 and at the sharpest pace since December 2017 as a significant slowdown in the non-oil sector and ongoing oil production cuts weighed on activity.
June 5, 2020
Oil prices recovered noticeably over the past month hitting a near three-month high, as previously agreed production cuts in mid-April and easing lockdown measures in most parts of the world supported oil demand prospects.
June 3, 2020
The Purchasing Managers’ Index (PMI), produced by IHS Markit, increased to 48.1 in May from 44.4 in April.