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	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	-0.05	1	0.6	0.5	0.6	0.5	percent
Unemployment Rate	6.00	6	6	6.1	6.1	5.9	percent
Inflation Rate	2.10	2.1	1.6	2	2.1	3.1	percent
Interest Rate	2.75	3	3	3.25	3.5	4	percent
Balance of Trade	162782.00	162000	150000	135500	126500	129000	Million SAR
Government Debt to GDP	17.20	18	20	20	20	22	percent


MARKETS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Currency	3.75	3.75	3.75	3.75	3.75	3.75
Stock Market	7747.68 points	7960	7883	7807	7731	7436

GDP	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	-0.05 percent	1	0.6	0.5	0.6	0.5
GDP Annual Growth Rate	1.61 percent	2	2.2	2.3	2.3	2.3
GDP	683.83 USD Billion	745	758	758	758	780
GDP Constant Prices	639248.00 SAR Million	671310	662010	653951	652630	703232
Gross Fixed Capital Formation	153061.00 SAR Million	192970	610902	156581	125088	202146
GDP per capita	20796.32 USD	21000	21700	21700	21700	22000
GDP per capita PPP	49045.41 USD	48917	50405	50405	49196	49388
GDP From Agriculture	15949.00 SAR Million	13551	16416	16316	15542	14195
GDP From Construction	27111.00 SAR Million	30455	29467	27735	30530	31903
GDP From Manufacturing	78900.00 SAR Million	79596	83286	80715	80415	83381
GDP From Mining	256428.00 SAR Million	257648	257671	262326	261095	269900
GDP From Transport	37098.00 SAR Million	40780	39185	37951	36394	42719
GDP From Utilities	9920.00 SAR Million	6071	3802	10148	14910	6360

LABOUR	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Unemployment Rate	6.00 percent	6	6	6.1	6.1	5.9
Unemployed Persons	847917.00	800000	790000	810000	815000	810000
Population	32.61 Million	33.4	34	34	34	34.5
Labor Force Participation Rate	56.20 percent	57.5	57.5	57.7	57.8	58.5
Employed Persons	11168.50 Thousand	11200	11350	11350	11350	11200
Retirement Age Men	60.00	60	60	60	60	60
Retirement Age Women	55.00	55	55	55	55	55

PRICES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Inflation Rate	2.10 percent	2.1	1.6	2	2.1	3.1
Consumer Price Index CPI	107.10 Index Points	106	110	110	109	112
Food Inflation	6.70 percent	5.5	4.8	4.7	4.2	3.9
Inflation Rate Mom	-0.20 percent	0.2	0.1	0.1	0.2	0.2
GDP Deflator	126.49 Index Points	136	141	141	141	146
Cpi Housing Utilities	108.60 Index Points	114	115	113	111	120
CPI Transportation	119.40 Index Points	108	122	122	122	114
Producer Prices	116.60 Index Points	116	120	120	119	121
Producer Prices Change	15.80 percent	14.7	2.7	2.4	2.3	2.5

MONEY	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Interest Rate	2.75 percent	3	3	3.25	3.5	4
Interbank Rate	2.64 percent	2.89	2.89	3.14	3.39	3.89
Money Supply M0	311497.00 SAR Million	312000	315000	319000	321000	355000
Money Supply M1	1201274.00 SAR Million	1213000	1250000	1280000	1290000	1313443
Money Supply M2	1627573.00 SAR Million	1650000	1680000	1700000	1720000	1792800
Money Supply M3	1815513.00 SAR Million	1830000	1840000	1843000	1847000	1880000
Foreign Exchange Reserves	1902031.00 SAR Million	1870000	1880000	1870000	1880000	1900000
Banks Balance Sheet	2330785.27 Million SAR	2350000	2320000	2340000	2345000	2640000
Deposit Interest Rate	3.13 percent	3.38	3.38	3.63	3.88	4.38
Loan Growth	1.90 percent	2	2	2.5	2.8	3.5
Loans To Banks	49126.00 SAR Million	51200	57000	63000	76000	87000
Loans To Private Sector	1441727.31 SAR Million	1440000	1450000	1456000	1460000	1496000
Central Bank Balance Sheet	1942497.00 Million SAR	1950000	1980000	1985000	1990000	2000000
Reverse Repo Rate	2.25 percent	2.25	2.25	2.5	2.5	3

TRADE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Balance of Trade	162782.00 Million SAR	162000	150000	135500	126500	129000
Exports	282206.00 Million SAR	290000	280000	265000	254000	260000
Imports	119423.00 Million SAR	128000	130000	129500	127500	131000
Current Account	19181.00 USD Million	10000	6800	6200	6000	5290
Current Account to GDP	2.20 percent	9.1	9.1	8.6	8.6	6.3
Capital Flows	14674.00 USD Million	-1400	-3600	-4000	-2000	1500
Tourism Revenues	14848.00 USD Million	12000	11890	11900	12200	13500
Gold Reserves	323.10 Tonnes	323	323	323	323	323
Crude Oil Production	10502.00 BBL/D/1K	10600	10500	10200	10150	10200
Foreign Direct Investment	882.00 USD Million	350	800	1000	1300	2430
Terrorism Index	5.81	5.6	5.5	5.5	5.5	5.4
Tourist Arrivals	16119.00 Thousand	18689	17500	18200	18600	21230
Remittances	32128.00 SAR Million	32900	32300	32400	32280	36800

GOVERNMENT	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Government Debt to GDP	17.20 percent	18	20	20	20	22
Government Budget	-8.90 percent of GDP	-4.4	-1.9	-1.9	-1.9	-2.2
Government Spending	183426.00 SAR Million	216701	644860	187645	146035	227006
Government Revenues	691505.00 SAR Million	650000	640000	640000	640000	650000
Fiscal Expenditure	929999.00 SAR Million	930000	1000000	1000000	1000000	970000
Military Expenditure	69521.40 USD Million	92000	76660	74950	73240	99732
Government Budget Value	-238494.00 SAR Million	-301933	-360000	-360000	-360000	-138218

BUSINESS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Business Confidence	3.00 Index Points	5	5	5	5	5
Manufacturing PMI	53.80	52.4	53.1	54.2	56	57
Industrial Production	3.44 percent	4	4	4.5	4.1	4.3
Changes in Inventories	17508.00 SAR Million	40000	41000	41500	42000	42900
Internet Speed	6705.52 KBps	8075	8124	8215	8269	8433
IP Addresses	3510242.00 IP	2888031	2876293	2791496	2775941	2501346
Industrial Production Mom	0.59 percent	0.5	0.5	0.5	0.6	0.8
Manufacturing Production	8.09 percent	6.3	6.5	6.8	7	9.4
Mining Production	2.01 percent	2.8	1.5	1.2	0.9	0.1
Competitiveness Index	67.50 Points	68	68	68	68	70.5
Competitiveness Rank	39.00	39	39	39	39	39
Ease of Doing Business	92.00	91	90	90	90	89
Corruption Index	49.00 Points	49	49	49	49	49
Corruption Rank	57.00	57	57	57	57	57
Steel Production	470.00 Thousand Tonnes	460	436	435	435	500

CONSUMER	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Consumer Confidence	107.00 Index Points	108	110	106	106	109
Consumer Spending	279738.00 SAR Million	274129	283021	286172	272286	287164
Households Debt To GDP	12.60 percent of GDP	13.2	13.4	13.3	13.2	13.1
Gasoline Prices	0.54 USD/Liter	0.54	0.75	0.44	0.41	0.75

HOUSING	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Housing Index	82.30 Index Points	82	81	81	82	85

TAXES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Corporate Tax Rate	20.00 percent	20	20	20	20	20
Personal Income Tax Rate	0.00 percent	0	0	0	0	0
Social Security Rate	22.00 percent	22	22	22	22	22
Social Security Rate For Companies	12.00 percent	12	12	12	12	12
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	Q4/18	Q1/19	Q2/19	Q3/19	2020
Temperature	34.68 celsius	21.35	18.04	31.17	27.67	26.17

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Saudi Arabia - Economic Forecasts - 2018-2020 Outlook

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