to download the complete report - GulfBase.com
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to download the complete report - GulfBase.com
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Economic Overview<br />
Current and Trade Account<br />
Current and Trade Accounts<br />
(SR bn)<br />
840<br />
780<br />
720<br />
660<br />
600<br />
540<br />
480<br />
420<br />
360<br />
300<br />
240<br />
180<br />
120<br />
60<br />
0<br />
2003 2004 2005 2006 2007 2008E<br />
Current Account Balance (LHS)<br />
Trade Balance (LHS)<br />
CA % of GDP (RHS)<br />
TB % of GDP (RHS)<br />
46%<br />
42%<br />
38%<br />
34%<br />
30%<br />
26%<br />
22%<br />
18%<br />
14%<br />
10%<br />
Source: SAMA, Central Department of Statistics & Information & Global Research<br />
» Trade Balances improved, driven by:<br />
- High oil prices<br />
- Diversification initiatives<br />
» Trade balances and current account balances both increased in 2008. Also in terms of GDP ratio, both<br />
witnessed increase <strong>to</strong> 46.8% and 32.2%, respectively. In 2009 we estimate current account balance <strong>to</strong><br />
GDP ratio <strong>to</strong> drop <strong>to</strong> around 26.0%.<br />
Global Investment House Saudi Arabia Economic Overview - January 2009
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