External Debt in Saudi Arabia
Saudi Arabia - External DebtWhile the economy appears to have ended 2018 on a solid footing, prospects for this year are quickly deteriorating. This is predominantly the consequence of oil production cuts agreed in December among OPEC+ countries, which will drag on GDP growth this year. That said, the oil production caps have started to boost oil prices, which should shore up government revenues somewhat. Moreover, the economy remains constrained by the government’s Saudization policy, which intends to boost the number of jobs for Saudis in the private sector by imposing labor restrictions on foreigners. According to analysts, the amount of expat jobs in the country—especially in the retail sector—declined by around 1.5 million people in the 2017–2018 period; the unemployment rate among Saudis in the same period has nevertheless remained virtually unchanged, hovering around 13%.
Saudi Arabia - External Debt Data
|External Debt (% of GDP)||12.3||13.1||13.8||19.8||-|
5 years of economic forecasts for more than 30 economic indicators.
Saudi Arabia Facts
|Bond Yield||2.49||0.0 %||Jun 23|
|Exchange Rate||3.75||0.0 %||Feb 14|
|Stock Market||0.2||1.00 %||Feb 14|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
February 5, 2019
Oil prices recovered briskly in January after they plunged to an over one-year low in late December, with the OPEC oil basket trading at USD 61.2 per barrel on 31 January.
February 5, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, rose from 54.5 in December to 56.2 in January.
January 22, 2019
Consumer prices fell 0.3% over the previous month in December, following November’s 0.3% decline.
January 11, 2019
The Purchasing Managers’ Index (PMI), sponsored by Emirates NBD and produced by IHS Markit, fell from 55.2 in November to 54.5 in December.
January 2, 2019
On 26 December, OPEC oil prices fell to their lowest since September 2017 (USD 50.1 per barrel) due to concerns over excess supply.