The Middle East

Despite the effects of lower international oil prices placing downward pressure on sector profitability, Saudi Arabia’s banks have succeeded in expanding their assets over the past year. While the trend of lower profits is likely to prevail over the medium term, the Kingdom’s banks are well positioned to capitalise on the growth opportunities encompassed in the country’s new economic...

For many decades Saudi Arabia has built its financial reserves with the proceeds of oil exports, while its increasingly affluent consumers have established the country as a significant importer of goods and services. However, lower oil prices have eroded the Kingdom’s healthy trade surplus, reminding countries around the world of the importance of having a diversified export base. Saudi Arabia...

As a member of the G20 and the world’s 17th-largest exporter, Saudi Arabia is an economic powerhouse. Classified as a high-income nation by the World Bank, its population of over 30m has established a consumer market in which domestic and global businesses have prospered. The exploitation of its hydrocarbons resources has driven growth for decades, and the nation’s trading status has been...