The latest monthly edition of the Saudi Chartbook published by Jadwa Investment finds positive indicators for the Saudi economy as growth picks up in the Kingdom.
According to Jadwa, non-oil exports in March increased by 1.8 percent year-on-year, the Kingdom’s FX reserves soared to the largest monthly increase since October 2013, and while inflation ticked up, rental housing prices declined.
In March, non-oil exports increased by 1.8 percent year-on-year, supported by higher exports in petrochemicals, which rose by 16 percent year-on-year, and metals, which were 33 percent higher year-on-year, according to Jadwa Investment.
The report, sent to investors on June 4, comes amid indications that the Saudi economy is growing again.
The think tank Capital Economics said the Saudi economy grew by 1.5% in the first quarter, after having contracted by 0.7% in 2017, according to a report in Arabian Business.
And, the recently released Emirates NBD/IHS Markit Purchasing Managers Index (PMI) — a measure of business conditions — increased to 53.2 from an all-time low of 51.4 in April for Saudi Arabia, according to Arab News.
[Click here to read the full report from Jadwa Investment] [In Arabic]
