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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 1.00 0.5 0.7 1 0.6 0.5 percent
Unemployment Rate 6.00 6 6 6 5.7 5.9 percent
Inflation Rate 2.50 2.7 2.5 2.8 2 2.5 percent
Interest Rate 2.25 2.5 2.5 2.75 3 3.5 percent
Balance of Trade 126560.00 94000 124822 113000 146783 126000 Million SAR
Government Debt to GDP 13.10 18 18 18 20 22 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Stock Market 7972.05
points
7632 7408 7190 6978 6193
Currency 3.75
3.75 3.75 3.75 3.75 3.75
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 1.00
percent
0.5 0.7 1 0.6 0.5
GDP Annual Growth Rate -1.20
percent
1.5 1.2 2 2.2 2.5
GDP 646.44
USD Billion
745 637 745 758 780
GDP Constant Prices 659754.00
SAR Million
632905 641159 672949 657108 706327
Gross Fixed Capital Formation 173074.00
SAR Million
150039 122997 176535 146291 185292
GDP per capita 21395.40
USD
21390 22151 22151 22789 23186
GDP per capita PPP 50458.20
USD
50445 50427 50408 50405 50382
GDP From Agriculture 13205.00
SAR Million
16106 15283 13469 16385 14137
GDP From Construction 29671.00
SAR Million
29299 30023 30264 30240 31766
GDP From Manufacturing 78051.00
SAR Million
77218 79079 79612 83184 83561
GDP From Mining 253677.00
SAR Million
253517 256756 258751 254101 271585
GDP From Transport 39532.00
SAR Million
37543 35789 40323 39507 42323
GDP From Utilities 5934.00
SAR Million
10030 14662 6053 3757 6353
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 6.00
percent
6 6 6 5.7 5.9
Unemployed Persons 826428.00
800000 830000 800000 845578 840000
Population 32.61
Million
32.9 33.1 33.41 33.45 34.5
Labor Force Participation Rate 55.60
percent
57.3 57.4 57.5 54.5 58.5
Retirement Age Men 60.00
60 60 60 60 60
Retirement Age Women 55.00
55 55 55 55 55
Employed Persons 11641.40
Thousand
11245 11784 11246 12045 13090
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 2.50
percent
2.7 2.5 2.8 2 2.5
Consumer Price Index CPI 107.70
Index Points
108 108 107 110 112
Food Inflation 5.60
percent
5.2 5.4 4.6 2 2.5
Inflation Rate Mom -0.20
percent
0.4 0.5 0.4 0.24 0.6
Producer Prices 117.10
Index Points
113 113 111 121 116
Producer Prices Change 16.40
percent
12 12 10 3 2.5
GDP Deflator 126.49
Index Points
136 113 136 117 146
Cpi Housing Utilities 113.20
Index Points
115 115 115 115 120
CPI Transportation 119.20
Index Points
111 110 109 122 114
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 2.25
percent
2.5 2.5 2.75 3 3.5
Interbank Rate 1.99
percent
2.37 2.37 2.62 2.87 3.37
Money Supply M0 311894.00
SAR Million
300671 306932 312000 307001 355000
Money Supply M1 1191886.00
SAR Million
1205004 1202032 1213179 1204291 1523443
Money Supply M2 1621992.00
SAR Million
1667059 1624673 1754483 1631667 1992800
Money Supply M3 1781615.00
SAR Million
1839496 1804183 2130000 1807730 2640000
Banks Balance Sheet 2262393.91
Million SAR
23200000 2272135 2350000 2270178 2640000
Foreign Exchange Reserves 1850194.00
SAR Million
1840000 1840000 1840000 1743106 1900000
Deposit Interest Rate 2.65
percent
3 3 3.25 3.5 4
Loan Growth -0.50
percent
0.4 0.6 1 -0.48 3.5
Loans To Banks 30017.00
SAR Million
62000 30891 71200 30881 88200
Reverse Repo Rate 1.75
percent
1.75 2 2.5 1.66 3
Central Bank Balance Sheet 1910050.00
Million SAR
2200000 1842640 2200000 1820786 2440000
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade 126560.00
Million SAR
94000 124822 113000 146783 126000
Exports 236751.00
Million SAR
220000 256122 233000 259525 260000
Imports 110191.00
Million SAR
126000 131300 120000 112742 134000
Current Account 7834.00
USD Million
1200 3795 2210 3990 7180
Current Account to GDP -3.70
percent
1.5 1.5 3 2 3
Capital Flows 2961.00
USD Million
-12100 6213 -13885 6068 12844
Tourism Revenues 12139.00
USD Million
12058 10637 12058 10482 13547
Gold Reserves 322.90
Tonnes
323 323 323 323 323
Crude Oil Production 9907.00
BBL/D/1K
9800 9970 9940 9970 10201
Terrorism Index 5.81
6 5.3 6 5.02 5.4
Tourist Arrivals 18049.00
Thousand
18689 18050 18689 17550 21230
Remittances 33995.00
SAR Million
34560 38102 32924 32681 36851
Foreign Direct Investment 264.00
USD Million
750 1000 1000 1200 2430
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 13.10
percent
18 18 18 20 22
Government Budget -8.90
percent of GDP
-6.8 -8.68 -6.8 -7.55 -1.5
Government Spending 219574.00
SAR Million
145877 143609 223965 133867 235074
Government Revenues 519448.00
SAR Million
550000 600000 550000 458385 650000
Fiscal Expenditure 830513.00
SAR Million
1004964 769889 1004964 682942 1150584
Military Expenditure 69521.40
USD Million
92000 54330 92000 43898 99732
Government Budget Value -311065.00
SAR Million
-454964 -169889 -454964 -224557 -500584
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Manufacturing PMI 51.40
53 54.9 55.7 55 57
Business Confidence 3.00
Index Points
20 30 30 29.65 55
Industrial Production 0.75
percent
4 4 4 1.85 8
Changes in Inventories -26437.00
SAR Million
34000 56377 18000 46730 10000
Internet Speed 6705.52
KBps
7806 8000 8075 8124 8433
IP Addresses 3510242.00
IP
3011109 2992123 2888031 2876293 2501346
Steel Production 446.00
Thousand Tonnes
490 411 530 410 580
Competitiveness Index 4.83
Points
5 4.74 5 4.82 5.4
Competitiveness Rank 30.00
27 29 27 29 21
Ease of Doing Business 92.00
90 92 90 92 83
Corruption Index 49.00
Points
54 49 54 49 56
Corruption Rank 57.00
50 54 50 52 44
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Consumer Confidence 99.00
Index Points
99 98 105 98 109
Consumer Spending 268623.00
SAR Million
262229 267762 273995 266420 287586
Households Debt To Gdp 13.80
Percent
13.65 13.69 13.74 13.77 13.76
Gasoline Prices 0.54
USD/Liter
0.23 0.22 0.21 0.2 0.14
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Housing Index 84.20
Index Points
83.2 86.49 90.1 90.87 96.3
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 20.00
percent
20 20 20 21 22
Personal Income Tax Rate 0.00
percent
0 0 0 0 0
Social Security Rate 22.00
percent
22 22 22 21 20
Social Security Rate For Companies 12.00
percent
12 11.94 11.94 11.71 11.21
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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 34.68
celsius
29.78 33.27 21.35 18.04 26.17