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.
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
The outlook for unconventional oil and gas production- Focus on tight oil and shale gas and it's impact on Saudi Arabia
Over the last few years, the rapid increase of tight oil and shale gas production in the US has brought about a significant change to the global energy landscape. Following our publication on “Saudi Arabias coming oil and fiscal challenge” in July 2011, we decided to update our view on how this transformation in the energy sector could impact the Kingdoms future standing in the worlds energy markets. By reviewing many of specialized public domain industry information, we conclude that tight oil production should not significantly affect Saudi Arabias situation and that shale gas production may merely induce Saudi petrochemical firms to expand production in the US. Full Report <a rel="nofollow" href="http://{{siteurlwithoutprotocol}}/en/media/get/20140428_jadwa-booklet-Unconventional-oil-and-gas-production.pdf"> Download pdf</a> Summary Report
Jadwa Co-Investment Fund (Saudi Lube Oil)
Oil market reportThis Fund enables its unit holders to obtain a beneficial ownership interest in equity of Saudi Aramco Lubricating Oil Refining Company (LubeRef.) LubeRef is the dominant base oils manufacturer in the GCC. The company produces more than 1 million metric tons of base lube oils, asphalt, naphtha and other products at its refineries in Jeddah and Yanbu. The fast-growing Saudi market represents 60 percent of its sales. Unit holders of the Fund receive pro-rata dividends distributed by LubeRef and expect to benefit from an eventual exit by way of IPO or sale to a third party. This is a closed-end fund already closed in 2007 and appears here for record only.
Feature: Oil's surge: what's behind it and what it means for Saudi Arabia
Oil market reportOil prices have hit a series of all-time highs and have the momentum to go up further, even though we think they are now well beyond the level justified by the fundamentals. Saudi Arabia's economic performance will continue to benefit from high oil prices.
