Saudi Arabia Macroeconomic Data & Forecasts

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 Particulars

1997 1998 1999 2000 2001f 2002f
   
Nominal GDP(US$bn) 146.5 128.9 142.7 173.1 176.5 165.3
Nominal GDP growth(%of y/y) 3.7 -12.0 7.9 21.3 2.0 1.3
Population(mn) 19.3 19.9 19.9 20.6 21.2 21.9
 
Budget balance (% of GDP) -2.9 -10 -6.5 6.9 1.1 -3.5
CPI (ave,% y/y) -0.4 -0.2 -1.2 -0.6 0.5 1.5
Exchange rate (SAR/US$,eop) 3.745 3.745 3.750 3.75 3.75 3.75
 
Oil production (mn b/d)* 8.35 8.37 7.79 8.40 7.90 8.26
Oil price (Opec bkt US$/b,ave) 18.77 12.28 17.47 27.60 24.00 18.00
Oil price (Arab light (US$/b,ave) 18.8 12.24 16.87 26.32 22.96 17.18
Oil price (Arab heavy (US$/b,ave) 17.25 10.6 15.05 23.72 20.64 13.86
Exports (fob, US$bn) 60.73 39.77 50.76 78.97 65.00 61.00
Imports (fob,US$bn) 26.37 27.54 25.72 27.79 30.00 32.00
Trade balance (US$bn) 34.36 12.24 25.04 51.18 35.00 29.00
Current account balance (US$bn) 0.26 -12.88 0.41 15.56 7.50 3.00
 % of  GDP 0.17 -9.99 0.29 8.99 4.25 1.82
Foreign reserves (ex gold, US$bn) 14.88 14.22 17.00 16.80 17.50 17.30
Imports cover (months)** 3.5 3.9 4.6 3.8 4.1 6.6

e/f = estimates/ forecasts (bold).*including condensates.**no of months imports of good and services covered by FX reserves plus gold. 


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