Economic updates
Our in-depth, independent reports cover the macroeconomic environment, the Saudi government’s annual budget, and Saudi Arabia’s monetary and financial developments, labor market, and inflation.
Buoyant oil market boosts economic outlook – April 2012
Oil markets have been tight so far this year, with prices and Saudi production above our expectations. We have revised up our forecasts for both, meaning that oil revenues will be at a record level in 2012.
Near-term prospects for oil prices and the Saudi economy in 2012.
Presented to the Society of Petroleum Engineers. This set of slides looks at the outlook for oil prices and the Saudi economy over 2012 and touches on key longer-term issues.
Quarterly GDP update: Oil sector pulls overall growth down in Q1-13
Oil market reportLatest economic growth data released this week show a real economic growth of 2.1 percent down from 4.4 percent in the fourth quarter last year. The slowdown was fairly broad based, with only government services growing at a faster pace than in the fourth quarter. Nonetheless, most sector of the economy grew with the exception of oil sector. We assume that year-on-year economic growth will ease further in the second quarter owing to lower growth in oil production. Other sectors of the economy will benefit from solid local fundamentals.
Q2-13 GDP: Growth picks up despite falling oil GDP
Latest economic growth data released this week show a real economic growth of 2.7 percent up from 2.1 percent in the first quarter, but down from 5.5 percent in the second quarter last year. While this reading marks the second lowest quarterly growth since the first quarter of 2011, the low growth is mainly due to falling oil output. Non-oil growth picked up to 4.5 percent form 4.4 percent for both previous quarter and the same period last year with government services, construction and retail sector leading the growth. We expect year-on-year economic growth to pick up in the third quarter as the contribution of the oil sector improves.
The Outlook for Unconventional Oil Gas Production English
Oil market reportThe Outlook for Unconventional Oil Gas Production English
