Saudi Arabia - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Saudi Arabia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Saudi Arabia economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate -0.05 0.7 1 0.6 0.5 0.5 percent
Unemployment Rate 6.10 6 6 6 6.2 5.9 percent
Inflation Rate 2.20 2.5 2.8 2.5 2.4 2.5 percent
Interest Rate 2.50 2.75 3 3 3.25 3.5 percent
Balance of Trade 120299.00 114000 113000 135000 138000 126000 Million SAR
Government Debt to GDP 17.20 18 18 20 20 22 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 3.75
3.75 3.75 3.75 3.75 3.75
Stock Market 7696.42
points
7926 7853 7780 7707 7424
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate -0.05
percent
0.7 1 0.6 0.5 0.5
GDP Annual Growth Rate 1.15
percent
1.3 0.8 1.4 1.5 2.3
GDP 683.83
USD Billion
745 745 758 758 780
GDP Constant Prices 647759.00
SAR Million
641478 665032 656828 637617 693254
Gross Fixed Capital Formation 139437.00
SAR Million
123058 174459 141389 151156 181862
GDP per capita 20796.32
USD
21000 21000 21700 21700 22000
GDP per capita PPP 49045.41
USD
49268 48917 50405 50405 49388
GDP From Agriculture 16063.00
SAR Million
15291 13311 16288 16226 13876
GDP From Construction 28833.00
SAR Million
30038 29908 29237 29517 31178
GDP From Manufacturing 81493.00
SAR Million
79118 78675 82634 77793 82014
GDP From Mining 252124.00
SAR Million
256884 255706 255654 255404 266558
GDP From Transport 38341.00
SAR Million
35807 39848 38878 37823 41539
GDP From Utilities 3720.00
SAR Million
14670 5981 3772 10104 6235
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 6.10
percent
6 6 6 6.2 5.9
Unemployed Persons 826428.00
830000 800000 790000 810000 810000
Population 32.61
Million
33.4 33.4 34 34 34.5
Labor Force Participation Rate 55.50
percent
55.8 55.9 56 56.1 56.7
Employed Persons 11168.50
Thousand
11200 11200 11350 11350 11200
Retirement Age Men 60.00
60 60 60 60 60
Retirement Age Women 55.00
55 55 55 55 55
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.20
percent
2.5 2.8 2.5 2.4 2.5
Consumer Price Index CPI 107.50
Index Points
108 107 111 110 112
Food Inflation 6.70
percent
5.4 5.5 4.8 4.7 3.9
Inflation Rate Mom 0.10
percent
0.1 0.2 0.1 0.1 0.2
GDP Deflator 126.49
Index Points
136 136 141 141 146
Cpi Housing Utilities 110.20
Index Points
115 115 116 113 120
CPI Transportation 119.30
Index Points
110 109 123 122 114
Producer Prices 116.70
Index Points
113 111 121 120 116
Producer Prices Change 15.30
percent
12 10 3 3.2 2.5
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 2.50
percent
2.75 3 3 3.25 3.5
Interbank Rate 2.61
percent
2.86 3.11 3.11 3.36 3.61
Money Supply M0 313961.00
SAR Million
313000 312000 315000 317000 355000
Money Supply M1 1198386.00
SAR Million
1219000 1215000 1240000 1245000 1300000
Money Supply M2 1621989.00
SAR Million
1623000 1624000 1626000 1627000 1630000
Money Supply M3 1787176.00
SAR Million
1780000 1800000 1810000 1815000 2000000
Foreign Exchange Reserves 1879840.00
SAR Million
1880000 1870000 1880000 1870000 1900000
Banks Balance Sheet 2288759.74
Million SAR
2270000 2350000 2320000 2340000 2640000
Deposit Interest Rate 2.65
percent
2.9 3.15 3.15 3.4 3.65
Loan Growth 1.10
percent
0.6 1 1.5 1.8 3.5
Loans To Banks 33711.00
SAR Million
41900 51200 57000 63000 87000
Loans To Private Sector 1431457.61
SAR Million
1430000 1440000 1450000 1456000 1496000
Central Bank Balance Sheet 1922341.00
Million SAR
1960000 1950000 1980000 1985000 2000000
Reverse Repo Rate 2.00
percent
2 2.5 2.5 2.5 3
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 120299.00
Million SAR
114000 113000 135000 138000 126000
Exports 243713.00
Million SAR
250000 233000 260000 265000 260000
Imports 123414.00
Million SAR
136000 120000 125000 127000 134000
Current Account 11065.00
USD Million
7500 7000 6800 6200 4500
Current Account to GDP 2.20
percent
3 3 2 2 3
Capital Flows 8820.00
USD Million
1800 -1400 -3600 -4000 1500
Tourism Revenues 12139.00
USD Million
11600 12000 11890 11900 13500
Gold Reserves 322.90
Tonnes
323 323 323 323 323
Crude Oil Production 10412.00
BBL/D/1K
10250 10050 10000 9850 10200
Foreign Direct Investment 838.00
USD Million
270 272 275 276 290
Terrorism Index 5.81
5.6 5.6 5.5 5.5 5.4
Tourist Arrivals 16119.00
Thousand
16025 18689 17500 18200 21230
Remittances 32130.00
SAR Million
33100 32900 32300 32400 36800
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 17.20
percent
18 18 20 20 22
Government Budget -8.90
percent of GDP
-9 -9 -8.5 -8.5 -6.5
Government Spending 143980.00
SAR Million
143680 221331 145996 146963 230723
Government Revenues 691505.00
SAR Million
650000 650000 640000 640000 650000
Fiscal Expenditure 929999.00
SAR Million
930000 930000 1000000 1000000 970000
Military Expenditure 69521.40
USD Million
73704 92000 76660 74950 99732
Government Budget Value -238494.00
SAR Million
-280000 -280000 -360000 -360000 -320000
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 3.00
Index Points
5 5 5 5 5
Manufacturing PMI 55.10
54.9 55.7 55 56 57
Industrial Production 3.44
percent
0.8 0.7 0.6 0.9 1
Changes in Inventories 42358.00
SAR Million
38000 40000 41000 41500 42900
Internet Speed 6705.52
KBps
8000 8075 8124 8215 8433
IP Addresses 3510242.00
IP
2992123 2888031 2876293 2791496 2501346
Industrial Production Mom 0.59
percent
0.2 0.4 0.5 0.5 0.8
Manufacturing Production 8.09
percent
7.1 6.3 6.5 6.8 9.4
Mining Production 2.01
percent
3.1 2.8 1.5 1.2 0.1
Competitiveness Index 4.83
Points
4.83 4.83 4.7 4.7 4.7
Competitiveness Rank 30.00
30 30 31 31 32
Ease of Doing Business 92.00
91 91 90 90 89
Corruption Index 49.00
Points
49 49 47 47 46
Corruption Rank 57.00
58 58 60 60 59
Steel Production 503.00
Thousand Tonnes
446 460 436 435 500
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence 107.00
Index Points
105 104 104 102 109
Consumer Spending 276929.00
SAR Million
267895 270772 280806 264181 282263
Households Debt To Gdp 12.90
Percent
13.1 13.2 13.4 13.3 13.1
Gasoline Prices 0.54
USD/Liter
0.55 0.52 0.49 0.46 0.36
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Housing Index 83.60
Index Points
83.9 83.7 83.5 82.9 85
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 20.00
percent
20 20 20 20 20
Personal Income Tax Rate 0.00
percent
0 0 0 0 0
Social Security Rate 22.00
percent
22 22 22 22 22
Social Security Rate For Companies 12.00
percent
12 12 12 12 12
Social Security Rate For Employees 10.00
percent
10 10 10 10 10
Sales Tax Rate 5.00
percent
5 5 5 5 5
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 34.68
celsius
33.27 21.35 18.04 31.17 26.17