External Debt in Saudi Arabia
Saudi Arabia - External Debt
Economic growth likely strengthened in recent months due to a combination of higher oil prices and increased oil production. The Saudi oil industry has ramped up production to pump more than 11 million barrels per day since May, filling the gap left by other key producers in recent months. Against this backdrop, international reserves hovered above USD 500 billion in the April–July period, while credit growth accelerated to an over one-year high in July. Despite the improvement in the oil market, business conditions in the non-oil sector remained relatively weak compared to the previous year. Moreover, the Saudi government indefinitely postponed the long-awaited privatization of Aramco, which has called into question Crown Prince Mohammed bin Salman’s 2030 Vision to diversify the economy.Saudi Arabia - External Debt Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| External Debt (% of GDP) | 12.3 | 13.1 | 13.8 | 19.8 | - |
Saudi Arabia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.49 | 0.0 % | Jun 23 |
| Exchange Rate | 3.75 | 0.0 % | Sep 20 |
| Stock Market | 0.2 | 1.00 % | Sep 19 |
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Economic News
Saudi Arabia: PMI inches up in August
September 3, 2018
The Purchasing Managers’ Index (PMI) sponsored by Emirates NBD and produced by IHS Markit edged up to 55.1 in August from 54.9 in July.
Saudi Arabia: Supply shortages and strong fundamentals continue to support oil prices in August
August 30, 2018
Resilient global growth and concerns about supply shortages are shoring up oil prices.
Saudi Arabia: Inflation accelerates in July
August 28, 2018
Consumer prices rose 0.1% over the previous month in July, rising by the same margin as in June.
Saudi Arabia: PMI edges down marginally in July
August 12, 2018
The Purchasing Managers’ Index (PMI) sponsored by Emirates NBD and produced by IHS Markit inched down to 54.9 in July from 55.0 in June.
Saudi Arabia: Geopolitical risks continue to push up oil prices
July 30, 2018
Despite key producers’ efforts to stabilize the market, oil prices continued to rise in recent weeks amid the war of words between the U.S. and Iran.
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