External Debt in Saudi Arabia
Saudi Arabia - External DebtThe economy emerged from recession in Q1 as higher oil prices compared to last year and steady production propelled the oil sector. Moreover, strong global growth and government support boosted activity in the manufacturing sector, which compensated for poor retail and transportation dynamics due to the implementation of a value added tax (VAT) and higher petrol prices. Recent data for Q2 suggests that the economy is gaining traction. The PMI for the non-oil sector rebounded in May from April’s all-time low. Moreover, higher oil prices are providing greater fiscal space and improving Saudi Arabia’s external position. On 30 June, Saudi Arabia agreed to increase oil supply to offset falling production in Venezuela and negative spillovers from the U.S. sanctions against Iran. The Saudi oil industry has an unused capacity of around 2 mbpd and could quickly ramp up production.
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 %||Jul 13|
|Stock Market||0.2||1.00 %||Jul 11|
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July 11, 2018
The Purchasing Managers’ Index (PMI) sponsored by Emirates NBD and produced by IHS Markit rose from 53.2 in May to 545.0 in June.
July 1, 2018
The economy expanded for the first time in five quarters in Q1 due to stronger dynamics in the oil sector and a low base from last year.
June 29, 2018
Oil prices traded sideways since hitting the highest level since November 2017 on 22 May.
June 27, 2018
Consumer prices dropped 0.4% from the previous month in May, falling from April’s 0.2% decrease.
June 6, 2018
The Purchasing Managers’ Index (PMI) sponsored by Emirates NBD and produced by IHS Markit rose from 51.4 in April to 53.2 in May.