Analysis by Region - Emerging Markets - Saudi Arabia
Description
Q3 national accounts data showed the economy expanding by 5% y/y, slightly softer than the flash estimate, but still signalling that Saudi Arabia is heading into year-end with solid momentum. On the expenditure side, growth was driven primarily by a 19.6% surge in real exports, while retail and utilities posted the strongest sectoral outturns, rising 5.4% and 6.9% y/y, respectively. We expect real GDP growth of 4.6% in 2025, with the pace moderating to 4.3% and 4.4% in 2026 and 2027, respectively, as softer oil prices begin to weigh on oil-sector activity.
Table of Contents
7 Pages
- Saudi Arabia: Softer oil prices will add to fiscal pressure in 2026
- Forecast overview
- Recent developments
- Short-term outlook
- Key drivers of our short-term forecast
- Economic risk
- Economic risk evaluation
- What to watch out for
- Exposure to key global risks
- Background
- Economic development
- Structure of the economy
- Politics
- Economic policy
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