Saudi Arabia Macroeconomic Developments
- Saudi Arabia’s international reserve assets reached SR1.75 trillion ($467.5 billion) in May, the highest in 18 months and an annual 6 percent increase. According to May’s figures, international currency holdings – including currency and deposits abroad and investments in foreign securities – constituted 95 percent of the total, amounting to SAR1.66 trillion ($443 billion).
- Saudi Arabia’s ongoing economic diversification efforts have propelled the country to the 16th spot in the World Competitiveness Index 2024, up one place from the previous year. Saudi Arabia was also ranked first in other sub-indicators, including long-term labor market growth and the number of internet users per thousand people.
- Saudi Arabia has emerged as the top issuer of international bonds among emerging markets, surpassing China with $33.2 billion in bond sales to date.
