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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate -0.43 1.5 2.2 1.3 2.7 2.5 percent
Unemployment Rate 5.80 5.9 6 6 6 5.9 percent
Inflation Rate 0.10 1.4 1.7 2.5 2.8 2.5 percent
Interest Rate 2.00 2 2 2.25 2.75 3.25 percent
Balance of Trade 93950.00 95000 94000 94000 95000 97000 Million SAR
Government Debt to GDP 13.10 18 18 17.67 18 22 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Stock Market 7539.75
points
7263 7050 6843 6641 5231
Currency 3.75
3.75 3.75 3.75 3.75 3.75
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate -0.43
percent
1.5 2.2 1.3 2.7 2.5
GDP Annual Growth Rate -0.43
percent
1.5 2.2 1.3 2.7 2.5
GDP 646.44
USD Billion
745 745 618 745 780
GDP Constant Prices 637335.00
SAR Million
674157 664766 740077 692395 737412
Gross Fixed Capital Formation 122263.00
SAR Million
147000 150000 152000 150000 180000
GDP per capita 21395.40
USD
21336 21271 21206 22151 23186
GDP per capita PPP 50458.20
USD
49748 49656 49564 49472 47576
GDP From Agriculture 15192.00
SAR Million
15400 16500 15329 12029 12489
GDP From Construction 29844.00
SAR Million
28000 29000 29000 28000 29000
GDP From Manufacturing 78607.00
SAR Million
82649 80436 78068 85752 95118
GDP From Mining 255225.00
SAR Million
253289 280426 251997 282067 310079
GDP From Transport 35576.00
SAR Million
41245 41244 36176 45807 51482
GDP From Utilities 14575.00
SAR Million
3600 10650 14481 6180 6310
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 5.80
percent
5.9 6 6 6 5.9
Unemployed Persons 736321.00
800000 800000 830000 800000 840000
Population 31.74
Million
32.25 32.26 32.27 32.28 32.9
Labor Force Participation Rate 54.80
percent
57.4 57.3 57.4 57.5 58.5
Retirement Age Men 62.00
62 62 62 62 61
Retirement Age Women 55.00
55 55 55 55 55
Employed Persons 11641.40
Thousand
11245 11245 11784 11246 13090
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 0.10
percent
1.4 1.7 2.5 2.8 2.5
Consumer Price Index CPI 137.60
Index Points
138 138 138 138 140
Food Inflation -0.80
percent
-1.2 -1.2 -1.2 -1.2 0.8
Inflation Rate Mom 0.10
percent
0.3 0.4 0.5 0.4 0.6
Producer Prices 100.60
Index Points
108 110 101 120 136
Producer Prices Change 0.20
percent
1 1.2 2.12 1.7 2.5
GDP Deflator 126.49
Index Points
136 136 111 136 146
CPI Transportation 119.50
Index Points
121 121 121 121 123
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 2.00
percent
2 2 2.25 2.75 3.25
Interbank Rate 1.81
percent
1.9 1.95 2 2.2 3.3
Money Supply M0 297926.00
SAR Million
297936 300671 295834 312000 355000
Money Supply M1 1167979.00
SAR Million
1195263 1205004 1177217 1213179 1523443
Money Supply M2 1597736.00
SAR Million
1649549 1667059 1555972 1754483 1992800
Money Supply M3 1769278.00
SAR Million
1820550 1839496 1747678 2130000 2640000
Banks Balance Sheet 2269304.69
Million SAR
2300000 23200000 2245461 2350000 2640000
Foreign Exchange Reserves 1854104.00
SAR Million
1840000 1840000 1840000 1840000 1900000
Deposit Interest Rate 2.20
percent
2.25 2.25 2.65 5 6
Loan Growth -0.60
percent
0.3 0.4 0.6 1 3.5
Loans To Banks 69350.00
SAR Million
59000 62000 61691 71200 88200
Reverse Repo Rate 1.50
percent
1.5 1.75 2 2.5 3
Central Bank Balance Sheet 1911475.00
Million SAR
2100000 2200000 1373457 2200000 2440000
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade 93950.00
Million SAR
95000 94000 94000 95000 97000
Exports 195619.00
Million SAR
181000 220000 212121 233000 260000
Imports 101252.00
Million SAR
90000 126000 131300 120000 134000
Current Account 9993.00
USD Million
3300 1200 13309 2210 7180
Current Account to GDP -3.90
percent
-1 -1 -4.86 -1 3
Capital Flows 934.97
USD Million
-15700 -12100 3016 -13885 12844
Tourism Revenues 11183.00
USD Million
12058 12058 10132 12058 13547
Gold Reserves 322.90
Tonnes
320 318 315 313 296
Crude Oil Production 9891.00
BBL/D/1K
9754 9800 9625 9940 10201
Remittances 30707.00
SAR Million
31586 34560 38102 32924 36851
Foreign Direct Investment 1662.00
USD Million
2050 2020 2225 2200 2430
Tourist Arrivals 17994.00
Thousand
18689 18689 0 18689 21230
Terrorism Index 5.81
6 6 5.3 6 5.4
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 13.10
percent
18 18 17.67 18 22
Government Budget -8.90
percent of GDP
-6.8 -6.8 -8.82 -6.8 -1.5
Government Spending 142752.00
SAR Million
164000 170000 142715 16000 159000
Government Revenues 519448.00
SAR Million
500000 550000 600000 550000 650000
Fiscal Expenditure 830513.00
SAR Million
1004964 1004964 818756 1004964 1150584
Government Budget Value -311065.00
SAR Million
-301933 -301933 -182239 -301933 -138218
Military Expenditure 61358.00
USD Million
92000 92000 54273 92000 99732
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Manufacturing PMI 57.30
56.8 55.4 57.22 55.7 57
Business Confidence 3.00
Index Points
15 20 30 30 55
Industrial Production 2.50
percent
4 4 4 4 8
Changes in Inventories 54814.00
SAR Million
61000 34000 47858 18000 10000
Internet Speed 6705.52
KBps
7011 6971 6858 6710 5481
IP Addresses 3510242.00
IP
3161989 3093889 3028180 2963827 2639076
Competitiveness Index 4.83
Points
5 5 4.74 5 5.4
Competitiveness Rank 30.00
27 27 29 27 21
Ease of Doing Business 92.00
90 90 87 90 83
Corruption Index 46.00
Points
54 54 44 54 56
Corruption Rank 62.00
50 50 72 50 44
Steel Production 269.00
Thousand Tonnes
530 490 357 530 580
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Consumer Confidence 98.00
Index Points
97 99 108 105 109
Consumer Spending 266165.00
SAR Million
266000 268000 264445 268813 274111
Gasoline Prices 0.54
USD/Liter
0.54 0.54 0.54 0.54 0.75
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Housing Index 90.70
Index Points
85.7 83.2 86.49 90.1 96.3
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 20.00
percent
20 20 21 21 23
Personal Income Tax Rate 0.00
percent
0 0 0 0 0
Social Security Rate 22.00
percent
22 22 20 20 20
Social Security Rate For Companies 12.00
percent
12 12 11.03 11.01 11.01
Social Security Rate For Employees 10.00
percent
10 10 9.03 9.01 9.01
Sales Tax Rate 5.00
percent
5 5 5 5 5