Home to an estimated 15.9% of the world’s proven oil reserves, Saudi Arabia is the single largest economy in the Middle East and North Africa. According to the Ministry of Finance, real GDP grew by 3.8% to $746bn in 2013. While oil income is expected to continue to account for the majority of government revenues for the foreseeable future, the non-oil sector has expanded significantly in recent decades growing 9.3% in 2013.
To what extent is the pharmaceuticals industry adapting to the needs of Saudi Arabia’s population?
While Saudi Arabia is a regional leader in mutual fund activity and has led the recent GCC expansion of the segment in terms of both fund classes and volumes, growth has been less brisk in areas such as private equity and venture capital. Recent years, however, have seen momentum build, driven by increased private sector interest and the government’s determination to nurture alternative...
Saudi Arabia’s banking sector is one of the largest and most vibrant in the Middle East, with three of its domestically licensed institutions in the regional top 10 by net assets. Historically the sector has thrived on the rise of high-value lending derived from the government’s infrastructure programmes, but recent years have seen local lenders pursue a growing number of opportunities in the...
Historically the Kingdom has benefitted greatly from its ability to ship its hydrocarbons resources to consumers across the world, while its strong economic growth in recent decades has made it a significant importer of goods and services. Meanwhile, the country’s transport links, large consumer market and a relatively high per capita income combine to make it an attractive destination for...
Benefitting greatly from rising oil prices and production over the last decade, Saudi Arabia has used its sizeable revenues to build up strong external buffers and drive GDP growth through extensive spending programmes. The decline in oil prices that began in mid-2014, however, has significantly lowered export revenues and brought the era of fiscal surpluses to a close. The resulting altered...
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