Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s flight resumption planned for May 17 will not include countries that were subjected to a travel ban in early February. The U.S. is among 20 countries that will not be allowed entry via international flights when flights resume.
- Saudi non-oil exports grew 16.2 percent YoY in February, according to the latest data from the General Authority for Statistics (GAStat). Total exports grew 3 percent over the same period. Non-oil exports totaled SAR18.6 billion ($5 billion) while total exports were SAR65.8 billion ($17.5 billion). Imports declined 6.2 percent to reach SAR40.4 billion ($10.7 million).
- Saudi Arabia closed its April 2021 issuance under the riyal-denominated sukuk program at SAR11.7 billion ($3.1 billion). The sukuk was divided into two tranches: the first tranche was sized at SAR3.9 billion ($1 billion) and matures in 2028 while the second tranche was sized at SAR7.8 billion ($2.1 billion) and matures in 2031.