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.
Saudi Arabia’s Balance of Payments: (The Current Account Surplus Narrows, but Financial Account Cushions FX Reserves)
Special reportIn H1-24, the current account remained in surplus, at $12.7 billion, equivalent to 2.3 percent of GDP. The trade surplus will narrow further in H2-24 given lower oil prices, while the transfers deficit could widen given the rise in expatriate workers. These dynamics point to a smaller current account surplus in H2-24.
Saudi Labor Market Update - H1 2024
Labor Market reportThe General Authority for Statistics’ (GaStat) latest labor market release shows that unemployment dropped to 7.1 percent at the end of H1 2024, down from 8.5 percent a year earlier.
Saudi Arabia’s 2025 Preliminary Budget Statement
Budget reportThe Preliminary Budget Statement highlights the government’s policy to support the Kingdom’s economic transformation, while maintaining fiscal space to deal with negative shocks. The government’s fiscal position remains strong.
