Saudi Arabia | Economic Forecasts | 2017-2020 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 Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate -1.03 0.5 0.8 1 1.2 2.5 percent [+]
Unemployment Rate 6.00 5.9 5.9 6 6 5.9 percent [+]
Inflation Rate -0.10 0.4 0.7 0.9 1 2 percent [+]
Interest Rate 2.00 2.5 2.5 2.5 2.5 3.25 percent [+]
Balance of Trade 77861.00 92000 95000 94000 94000 97000 Million SAR [+]
Government Debt to GDP 13.10 16 18 18 24.67 22 percent [+]
MARKETS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Stock Market 7010.96 7190 7110 7040 6970 6170 points [+]
Currency 3.75 3.71 3.68 3.64 3.6 3.19 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Growth Rate -1.03 0.5 0.8 1 1.2 2.5 percent [+]
GDP Annual Growth Rate -1.03 0.5 0.8 1.3 1.5 2.5 percent [+]
GDP 646.44 680 745 745 582 780 USD Billion [+]
GDP Constant Prices 628194.00 676167 674157 664766 755463 737412 SAR Million [+]
Gross Fixed Capital Formation 148922.00 146000 147000 150000 152000 180000 SAR Million [+]
GDP per capita 21395.40 21808 21028 20916 20803 23186 USD [+]
GDP per capita PPP 50458.20 49472 49289 49107 48924 47576 USD [+]
GDP From Agriculture 15986.00 11518 15400 16500 15386 12489 SAR Million [+]
GDP From Construction 29081.00 28000 28000 29000 29000 29000 SAR Million [+]
GDP From Manufacturing 76643.00 80996 82649 80436 77464 95118 SAR Million [+]
GDP From Mining 251630.00 271405 250410 280426 249269 310079 SAR Million [+]
GDP From Transport 37264.00 42881 41245 41244 37010 51482 SAR Million [+]
GDP From Utilities 9955.00 6030 3600 10650 13501 6310 SAR Million [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 6.00 5.9 5.9 6 6 5.9 percent [+]
Unemployed Persons 736321.00 780000 800000 800000 830000 840000 [+]
Population 31.74 31.82 32.25 32.26 32.27 32.9 Million [+]
Retirement Age Men 62.00 61.66 61.66 61.66 61.66 61.36 [+]
Retirement Age Women 55.00 55 55 55 55 55 [+]
Labor Force Participation Rate 54.20 57.1 57.4 57.3 57.4 58.5 percent [+]
Employed Persons 11641.40 11072 11245 11245 12070 13090 Thousand [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate -0.10 0.4 0.7 0.9 1 2 percent [+]
Consumer Price Index CPI 137.80 138 138 138 138 140 Index Points [+]
Food Inflation -1.40 -1.5 -1.2 -1.2 -1.2 0.8 percent [+]
Producer Prices 100.70 105 108 110 101 136 Index Points [+]
Producer Prices Change -1.18 -1.4 1 1.2 1.95 2.5 percent [+]
Inflation Rate Mom 0.10 0.3 0.3 0.4 0.5 0.6 percent [+]
GDP Deflator 126.49 131 136 136 116 146 Index Points [+]
CPI Transportation 120.20 120 121 121 121 123 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 2.00 2.5 2.5 2.5 2.5 3.25 percent [+]
Interbank Rate 1.80 2.2 2.3 2.5 2.75 3.3 percent [+]
Money Supply M0 313478.00 297000 309240 300671 307072 355000 SAR Million [+]
Money Supply M1 1164641.00 1173339 1195263 1205004 1167798 1523443 SAR Million [+]
Money Supply M2 1649340.00 1623464 1649549 1667059 1671809 1992800 SAR Million [+]
Money Supply M3 1795033.00 1800000 1820550 1839496 1801054 2640000 SAR Million [+]
Banks Balance Sheet 2285122.42 2290000 2300000 23200000 2281081 2640000 Million SAR [+]
Foreign Exchange Reserves 1828746.00 1850000 1840000 1840000 1840000 1900000 SAR Million [+]
Deposit Interest Rate 2.50 2.25 2.25 2.25 2.72 6 percent [+]
Reverse Repo Rate 1.25 1.5 1.5 1.5 1.43 3.5 percent [+]
Loan Growth -1.00 -0.1 0.3 0.4 0.6 3.5 percent [+]
Loans To Banks 58551.00 61200 59000 62000 54332 88200 SAR Million [+]
Central Bank Balance Sheet 1874395.00 2070000 2100000 2200000 1366048 2440000 Million SAR [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade 77861.00 92000 95000 94000 94000 97000 Million SAR [+]
Exports 185390.00 215000 181000 220000 208567 260000 Million SAR [+]
Imports 107529.00 123000 90000 126000 131300 134000 Million SAR [+]
Current Account 1092.00 -600 3300 1200 2736 7180 USD Million [+]
Current Account to GDP -3.90 -3 -1 -1 -1.8 3 percent [+]
Capital Flows -14390.00 -18834 -15700 -12100 -3622 12844 USD Million [+]
Tourism Revenues 11183.00 11165 12058 12058 9569 13547 USD Million [+]
Gold Reserves 322.90 318 315 313 310 292 Tonnes [+]
Crude Oil Production 9951.00 9800 9754 9800 9589 10201 BBL/D/1K [+]
Foreign Direct Investment 1753.00 2100 2050 2020 2550 2430 USD Million [+]
Tourist Arrivals 17994.00 17100 18689 18689 16425 21230 Thousand [+]
Terrorism Index 5.40 5.8 6 6 4.68 5.4 [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 13.10 16 18 18 24.67 22 percent [+]
Government Budget -17.30 -9.5 -6.8 -6.8 -14.73 -1.5 percent of GDP [+]
Government Spending 144791.00 154000 164000 170000 139351 159000 SAR Million [+]
Government Revenues 519448.00 490000 500000 550000 600000 650000 SAR Million [+]
Fiscal Expenditure 830513.00 957109 1004964 1004964 753158 1150584 SAR Million [+]
Government Budget Value -311065.00 -356227 -301933 -301933 -100870 -138218 SAR Million [+]
Military Expenditure 61358.00 88382 92000 92000 41640 99732 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Manufacturing PMI 55.50 56.2 56.8 55.4 56.84 57 [+]
Business Confidence 3.00 7 15 20 30 55 [+]
Industrial Production 2.50 2 4 4 4 8 percent [+]
Changes in Inventories 45503.00 20000 61000 34000 37507 10000 SAR Million [+]
Competitiveness Index 4.83 4.8 5 5 4.74 5.4 Points [+]
Competitiveness Rank 30.00 29 27 27 29 21 [+]
Ease of Doing Business 94.00 92 90 90 74 83 [+]
Corruption Index 46.00 50 54 54 40 56 Points [+]
Corruption Rank 62.00 55 50 50 75 44 [+]
Steel Production 485.00 540 530 490 406 580 Thousand Tonnes [+]
CONSUMER Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Consumer Confidence 98.00 103 97 99 108 109 [+]
Consumer Spending 260277.00 262282 266000 268000 257003 274111 SAR Million [+]
Gasoline Prices 0.24 0.24 0.24 0.24 0.22 0.4 USD/Liter [+]
HOUSING Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Housing Index 84.90 86.5 85.7 83.2 86.49 96.3 Index Points [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 20.00 20.89 20 20 21.49 23.07 percent [+]
Personal Income Tax Rate 0.00 0 0 0 0 0 percent [+]
Social Security Rate 22.00 20.03 22 22 20.02 20.02 percent [+]
Social Security Rate For Companies 12.00 11.01 12 12 11.01 11.01 percent [+]
Social Security Rate For Employees 10.00 9.01 10 10 9.01 9.01 percent [+]