Saudi Arabia Macroeconomic Developments
- Total bank claims on the private sector reached SAR2.4 trillion ($628 billion) in March, growing 1.4 percent MoM. Meanwhile, total bank claims on the public sector reached SAR648 billion ($173 billion), decreasing by approximately 1 percent MoM.
- New residential mortgage contracts reached 9,526 worth SAR7.3 billion ($1.9 billion) in March. Houses dominated the share of mortgages as it accounted for 70 percent of the share, while apartments contributed 24 percent and land with the remaining 6 percent.
- Private sector imports financed through commercial banks reached SAR14 billion ($3.7 billion) in March, growing by 2 percent MoM. Motor vehicles accounted for 23 percent of the total share.