SAUDI ARABIAN MARKET
Saudi Arabia Macroeconomic Developments
• Saudi Arabia’s investments in U.S. Treasuries increased by SAR4.5 billion ($1.2 billion) in September to reach SAR492 billion ($131.2 billion). The Kingdom’s U.S. Treasury holdings rose 5.3 percent in the past two months, surpassing Canada to become the 15th largest holder of U.S. debt.
• Saudi weekly seaborne crude exports fell to 4.7 million barrels per day (bpd) from 5.6 million bpd the week prior. Volumes to the major Asian importers were lower except for India. The U.S. received 3 million bbl of Saudi crude, the most since September, while the Mediterranean region received 2 million bbl.
• Point-of-sale (POS) transactions fell 7 percent to SAR7.5 billion ($2 billion) during the week ending November 14. The education sector fell the most (-22 percent) while telecommunications (+6 percent) and jewelry (+1 percent) sales increased. Consumer spending focused on food & beverages during the week, valued at SAR1.16 billion ($309 million).