Middle East & North Africa Data Response Saudi Arabia GDP (Q1, Flash Estimate) Saudi Arabia’s economy recorded a slight contraction in Q1 as the impact of the Kingdom’s additional voluntary output cut more than offset a further rebound in non-oil sectors. With oil output cuts... 10th May 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi: weak Q1, recovery to resume over rest of 2021 Saudi Arabia’s economy is likely to have suffered a fresh downturn in Q1 on the back of oil production cuts and tighter virus containment measures. But with the vaccine roll out picking up pace and... 4th May 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Mar.) Saudi inflation fell to 4.9% y/y in March and, while the headline rate is likely to rise in Q2, we expect it to fall sharply to 1.5-2.0% from July as the effects of last year’s VAT hike fade. 15th April 2021 · 2 mins read
Middle East & North Africa Economics Update Tighter virus restrictions weigh on Saudi recovery Saudi Arabia’s tightening of COVID-19 restrictions has weighed on activity in the non-oil sector and the voluntary oil output cut has hit the hydrocarbon sector too. But, with the vaccine rollout... 30th March 2021 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Feb.) Saudi inflation dropped to an eight-month low of 5.2% y/y in February and while, it is likely to rise again over the next few months, we expect it to fall sharply to 1.5-2.0% from July as the effects... 15th March 2021 · 2 mins read
Middle East & North Africa Economics Update Saudi still failing to entice foreign investors The Saudi government’s efforts to improve the Kingdom’s business environment and attract foreign direct investment in recent years haven’t had the desired effect. One result is that the government is... 4th March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi recovery remains weak at start of 2021 Saudi Arabia’s economic recovery has continued to be slow going as the tightening of COVID-19 restrictions has weighed on activity. The slow start to the vaccine rollout and the Kingdom’s voluntary... 1st March 2021 · 3 mins read
Middle East & North Africa Economics Update Saudi unemployment rate to fall only gradually Saudi Arabia’s unemployment rate has risen sharply in the past year and, while we expect it to fall back, the weak recovery means that it might take many years before it gets close to its pre-pandemic... 10th February 2021 · 2 mins read
Energy Update Saudi production cuts to boost prices If implemented, Saudi Arabia’s shock pledge to cut oil production by 1m bpd in February and March should offset much of the current lockdown-related weakness in global oil demand. Consequently, the... 7th January 2021 · 3 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Sep.) Saudi inflation dropped back to 5.7% y/y in September as food inflation eased and schools slashed tuition fees ahead of the new academic year. While the effects of July’s VAT hike will keep inflation... 15th October 2020 · 2 mins read
Middle East & North Africa Data Response Saudi Arabia GDP (Q2) Saudi Arabia’s economy contracted by 7.0% y/y in Q2 on the back of the virus containment measures and oil production cuts. And even though containment measures have started to be lifted, the... 30th September 2020 · 2 mins read
OPEC Watch OPEC Monthly Oil Market Report (Sep.) OPEC’s oil production rose sharply in August on the back of higher output quotas. However, if concerns persist about global oil demand, which was discussed at length at yesterday’s JMMC meeting, then... 18th September 2020 · 3 mins read
Middle East & North Africa Economics Update Saudi consumer resilience unlikely to last Consumer spending in Saudi Arabia seems to have bounced back quickly in recent months, but the steep VAT hike and the suspension of the Cost of Living Allowance means that this is unlikely to be... 16th September 2020 · 3 mins read
Middle East & North Africa Data Response Saudi Consumer Prices (Aug.) Saudi inflation edged up to 6.2% y/y in August as the effects of the VAT hike at the start of July continued to dominate. Inflation will remain elevated until the middle of next year and, combined... 15th September 2020 · 2 mins read
Middle East & North Africa Economics Update Saudi recovery stutters Saudi Arabia’s economic recovery has faltered in recent months and the backdrop of fiscal austerity, the partial suspension of pilgrimages and oil production cuts mean that it is likely to remain slow... 7th September 2020 · 2 mins read
Middle East & North Africa Data Response Whole Economy PMIs (Aug.) August’s whole economy PMIs from across the Middle East and North Africa all fell adding to the signs that activity in the region has plateaued amid fiscal austerity and continued virus containment... 3rd September 2020 · 3 mins read
