Trade Balance in Saudi Arabia
Saudi Arabia - Trade BalanceAfter expanding at the fastest pace in more than a decade during Q1, the economy is likely to remain at full throttle in Q2. Thanks to an increased OPEC+ quota, oil production rose to its highest level in two years during April. After slipping during that same month, oil prices then recorded their highest monthly average since 2011 in May. Rising oil prices are boosting the external and fiscal balances. However, this windfall is unlikely to boost GDP as much as in recent years. The government is concerned that as the world turns away from fossil fuels, this could be oil’s last great bull run. As a result, it is planning to plough money from this windfall into the country’s USD 600 billion sovereign wealth fund as part of its effort to diversify the economy. It will also use some of it to rebuild foreign exchange reserves and reduce public debt.
Saudi Arabia - Trade Balance Data
|Trade Balance (USD billion)||44.3||55.8||98.5||169||129|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Trade Balance Chart
Source: Central Department of Statistics and Information.
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|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 10, 2023
The OPEC oil basket traded at USD 79.7 per barrel in December on average, down 11.2% from the prior month.
January 3, 2023
The Non-oil S&P Global Purchasing Managers’ Index (PMI) fell to 56.9 in December from November’s 58.5.
December 14, 2022
Inflation edged down to 2.9% in November, from October’s 3.0%.
November 29, 2022
The OPEC oil basket traded at USD 90.8 per barrel on average over the last month, down 3.0% from the prior month.
November 15, 2022
Inflation moderated to 3.0% in October, easing slightly from September’s 3.1%.