to download the complete report - GulfBase.com
to download the complete report - GulfBase.com
to download the complete report - GulfBase.com
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Economic Overview<br />
GDP<br />
» Saudi Arabia possessing more than 20% & 10% of world’s oil & gas reserves, respectively, regarded as<br />
<strong>the</strong> economic powerhouse of Gulf Cooperation Council (GCC), will fur<strong>the</strong>r consolidate its position in<br />
post GCC full economic union.<br />
» In <strong>the</strong> scenario of falling oil prices & slowdown of global economy, we expect Saudi economy <strong>to</strong> record<br />
real GDP growth of 2.2% in 2009 and an oil price of around US$51/bbl could lead <strong>to</strong> balancing of<br />
FY2009 Saudi budget.<br />
Global Investment House<br />
Nominal GDP & Oil Price<br />
(SR bn)<br />
1,800<br />
1,700<br />
1,600<br />
1,500<br />
1,400<br />
1,300<br />
1,200<br />
1,100<br />
1,000<br />
900<br />
800<br />
700<br />
600<br />
(US$/barrel)<br />
1,753.0 100<br />
95.0 95<br />
90<br />
85<br />
84.4<br />
80<br />
1,430.5<br />
1,335.6<br />
75<br />
70<br />
1,182.5<br />
65<br />
59.0<br />
60<br />
55<br />
49.7<br />
50<br />
938.8<br />
45<br />
804.6<br />
40<br />
34.5<br />
35<br />
686.3 707.1<br />
30<br />
27.1<br />
23.1 24.3<br />
25<br />
20<br />
2001 2002 2003 2004 2005 2006 2007 2008E<br />
Nominal GDP (LHS)<br />
Source: SAMA, Ministry of Economy & Planning<br />
Average Price-Arabian Light (RHS)<br />
Saudi Arabia Economic Overview - January 2009
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