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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.20 2.1 2.2 2.4 2.3 3.5 percent [+]
Unemployment Rate 5.60 5.9 5.9 5.9 5.6 5.9 percent [+]
Inflation Rate -0.40 0.2 0.6 1.5 1.6 3.1 percent [+]
Interest Rate 2.00 2 2.5 2.5 2.5 3.25 percent [+]
Balance of Trade 96189.00 71000 91500 43000 86000 54000 Million SAR [+]
Government Debt to GDP 13.10 16 16 18 18 22 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Stock Market 7175.17 7230 7150 7080 7010 6200 points [+]
Currency 3.75 3.79 3.83 3.86 3.9 4.31 [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 1.20 2.1 2.2 2.4 2.3 3.5 percent [+]
GDP Annual Growth Rate -0.50 -0.3 0.5 0.8 1 2.5 percent [+]
GDP 646.44 680 680 745 745 780 USD Billion [+]
GDP Constant Prices 642962.83 651989 676167 674157 664766 737412 SAR Million [+]
Gross Fixed Capital Formation 143142.00 155000 200000 135397 170000 258000 SAR Million [+]
GDP per capita 21395.40 21800 21808 21518 21481 23186 USD [+]
GDP per capita PPP 50458.20 50427 50408 50396 50384 50405 USD [+]
GDP From Agriculture 16032.00 15126 11518 15400 16500 12489 SAR Million [+]
GDP From Construction 29589.00 30600 31000 32000 31400 35698 SAR Million [+]
GDP From Manufacturing 81393.00 79815 80996 82649 80436 95118 SAR Million [+]
GDP From Mining 248631.00 272846 271405 252397 280426 310079 SAR Million [+]
GDP From Transport 38657.00 35890 42881 41245 41244 51482 SAR Million [+]
GDP From Utilities 3676.00 14000 6030 3600 10650 6310 SAR Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 5.60 5.9 5.9 5.9 5.6 5.9 percent [+]
Unemployed Persons 751811.00 758000 758000 704000 704000 790000 [+]
Population 31.74 32 32.24 32.25 32.26 32.9 Million [+]
Retirement Age Men 62.00 62 62 62 62 62 [+]
Retirement Age Women 55.00 55 55 55 55 55 [+]
Labor Force Participation Rate 56.50 56.8 57.1 57.4 57.3 58.5 percent [+]
Employed Persons 11641.40 11072 11072 11245 11245 13090 Thousand [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate -0.40 0.2 0.6 1.5 1.6 3.1 percent [+]
Consumer Price Index CPI 137.50 139 140 141 142 155 Index Points [+]
Food Inflation -2.20 0.8 2.1 2.3 2.5 3 percent [+]
Producer Prices 101.10 102 105 108 110 136 Index Points [+]
Producer Prices Change -1.75 -1.5 -1.4 1 1.2 2.5 percent [+]
Inflation Rate Mom 0.70 0.3 0.2 0.15 0.1 0.4 percent [+]
GDP Deflator 126.49 131 131 136 136 146 Index Points [+]
CPI Transportation 121.20 123 124 126 126 138 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 2.00 2 2.5 2.5 2.5 3.25 percent [+]
Interbank Rate 1.73 2 2.2 2.3 2.5 3.3 percent [+]
Money Supply M0 304797.00 289000 297000 303941 300671 355000 SAR Million [+]
Money Supply M1 1148788.00 1160000 1173339 1195263 1205004 1523443 SAR Million [+]
Money Supply M2 1627604.00 1619671 1623464 1649549 1667059 1992800 SAR Million [+]
Money Supply M3 1801000.00 1700000 1800000 1820550 1839496 2640000 SAR Million [+]
Banks Balance Sheet 2271432.93 2280000 2290000 2300000 23200000 2640000 Million SAR [+]
Foreign Exchange Reserves 1871361.00 18500200 187429 1927060 1907242 2155079 SAR Million [+]
Deposit Interest Rate 2.25 2.25 2.25 2.25 2.25 6 percent [+]
Reverse Repo Rate 1.25 1.25 1.5 1.5 1.5 3.5 percent [+]
Loan Growth -1.40 -0.6 -0.1 0.3 0.4 3.5 percent [+]
Loans To Banks 62054.00 58000 61200 59000 62000 88200 SAR Million [+]
Central Bank Balance Sheet 1937782.00 203000 2070000 2100000 2200000 2440000 Million SAR [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade 96189.00 71000 91500 43000 86000 54000 Million SAR [+]
Exports 204581.00 194000 215000 181000 220000 260000 Million SAR [+]
Imports 108392.00 124000 118000 138000 134000 140000 Million SAR [+]
Current Account 6240.00 -2750 -600 3300 1200 7180 USD Million [+]
Current Account to GDP -3.90 -3 -3 -1 -1 3 percent [+]
Capital Flows -21245.00 -15000 -18834 -15700 -12100 12844 USD Million [+]
Tourism Revenues 11183.00 11165 11165 12058 12058 13547 USD Million [+]
Gold Reserves 322.90 323 323 323 323 323 Tonnes [+]
Crude Oil Production 10070.00 9721 9800 9754 9800 10201 BBL/D/1K [+]
Foreign Direct Investment 1736.00 1870 2100 2050 2020 2430 USD Million [+]
Tourist Arrivals 17994.00 17100 17100 18689 18689 21230 Thousand [+]
Terrorism Index 5.40 5.8 5.8 6 6 5.4 [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 13.10 16 16 18 18 22 percent [+]
Government Budget -17.30 -9.5 -9.5 -6.8 -6.8 -1.5 percent of GDP [+]
Government Spending 130985.00 140000 154000 164000 170000 159000 SAR Million [+]
Government Revenues 519448.00 600882 600882 703032 703032 1012366 SAR Million [+]
Fiscal Expenditure 830513.00 957109 957109 1004964 1004964 1150584 SAR Million [+]
Government Budget Value -311065.00 -356227 -356227 -301933 -301933 -138218 SAR Million [+]
Military Expenditure 61358.00 88382 88382 92000 92000 99732 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Manufacturing PMI 54.30 54.4 56.2 56.8 55.4 57 [+]
Business Confidence 3.00 3 5 1 2 12 [+]
Industrial Production 2.50 5 5 7 7 4.3 percent [+]
Changes in Inventories 59701.00 45000 20000 61000 34000 10000 SAR Million [+]
Competitiveness Index 4.84 4.8 4.8 5 5 5.4 Points [+]
Competitiveness Rank 29.00 29 29 27 27 21 [+]
Ease of Doing Business 94.00 92 92 90 90 83 [+]
Corruption Index 46.00 50 50 54 54 56 Points [+]
Corruption Rank 62.00 55 55 50 50 44 [+]
Steel Production 401.00 480 540 530 490 580 Thousand Tonnes [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Consumer Confidence 94.00 102 103 97 99 109 [+]
Consumer Spending 260685.00 261544 262282 266000 268000 274111 SAR Million [+]
Gasoline Prices 0.24 0.24 0.24 0.24 0.24 0.4 USD/Liter [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Housing Index 85.50 84.6 86.5 85.7 83.2 96.3 Index Points [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 20.00 20 20 20 20 20 percent [+]
Personal Income Tax Rate 0.00 0 0 0 0 0 percent [+]
Social Security Rate 22.00 22 22 22 22 22 percent [+]
Social Security Rate For Companies 12.00 12 12 12 12 12 percent [+]
Social Security Rate For Employees 10.00 10 10 10 10 10 percent [+]