Saudi Arabia Macroeconomic Developments
- The IMF’s 2022 Article IV Consultation for Saudi Arabia revealed a GDP growth of 7.6 percent for 2022. Non-oil growth will increase to 4.2 percent in 2022, and the current account surplus will increase to 17.4 percent of GDP in 2022.
- Saudi Arabia’s non-oil exports increased by 36.6 percent YoY in April 2022, rising to SAR27.4 billion ($7.3 billion) from SAR20.0 billion ($5.3 billion) in April 2021, according to GAStat’s International Trade report for April 2022. Merchandize imports rose by 12 percent YoY in the first quarter of 2022 to SAR 156.8 billion.
- The Saudi stock exchange has approved the listing of SR5.44 billion ($1.5 billion) worth of government debt instruments submitted by the Ministry of Finance, it said in a statement. Divided into two issuances, the first is valued at SR2.86 billion ($763 million), while the other one has a size of SR2.58 billion ($688 million). The listing and trading of the instruments will start on June 27.