Riyadh must target non-oil growth to counter the effects of low oil prices
Government budget
Key economic numbers in Saudi Arabia
Planned Saudi government spending in 2016
Saudi Arabia budget, 2016 | |
---|---|
Sector | 2016 budget allocation (SRbn) |
Education and training | 191.659 |
Health and Social Development | 104.864 |
Municipality Services | 21.246 |
Military and Security Services | 213.367 |
Infrastructure and Transportation | 23.903 |
Economic resources | 78.121 |
Public administration | 23.84 |
Budget Support Provision | 183 |
Total | 840 |
Source: Saudi Arabia Finance Ministry |
Saudi Arabia budget, 2015 | |||
---|---|---|---|
Government revenues | 2015 (SRbn) | 2014 (SRbn) | Percentage change |
Petroleum products tax | 16.08 | 15.04 | 6.91 |
Customs duties | 25 | 23.52 | 6.29 |
General service fees | 1.8 | 1.611 | 11.73 |
Government share in the telecommunications sector | 4.4 | 4.962 | -11.33 |
Passport & residency documents fees | 15.7 | 14.531 | 8.04 |
Other income taxes | 14 | 13.925 | 0.54 |
Rents and sales | 1.8 | 1.146 | 57.07 |
Investments* | 37 | 21.858 | 81 |
Other revenues | 25.5 | 9.23 | 149 |
Zakat** | 14.5 | 14.3 | 1.4 |
Fees of port services | 4 | 3.762 | 6.33 |
Visa fees | 2.7 | 2.394 | 12.78 |
Mining fees | 0.52 | 0.517 | 0.58 |
Total | 163.5 | 126.796 | |
*= Investments: Saudi Arabian Monetary Authority (Sama) SR22bn, Public Investments Fund SR15bn; **= Deposited in Samas account and expensed directly to the beneficiaries of social insurance in addition to what has been allocated in the budget as their benefits. Source: Saudi Arabia Finance Ministry |
Banking
Saudi Arabia interbank rate
Saudi Arabia government deposits
Saudi Arabia loan to deposit ratio 2015
Saudi banking sector | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nov-14 | Dec-14 | Jan-15 | Feb-15 | Mar-15 | Apr-15 | May-15 | Jun-15 | Jul-15 | Aug-15 | Sep-15 | Oct-15 | Nov-15 | |
Government deposits (SRbn) | 1,630 | 1,561 | 1,535 | 1,416 | 1,372 | 1,324 | 1,270 | 1,254 | 1,244 | 1,233 | 1,190 | 1,201 | 1,163 |
Total deposits in commercial banks (SRbn) | 1,542 | 1,576 | 1,544 | 1,599 | 1,619 | 1,626 | 1,646 | 1,646 | 1,629 | 1,625 | 1,653 | 1,602 | 1,623 |
Total bank credit (SRbn) | 1,252 | 1,251 | 1,260 | 1,270 | 1,282 | 1,288 | 1,306 | 1,319 | 1,323 | 1,328 | 1,330 | 1,342 | 1,355 |
Loan-to-deposit ratio (%) | 81.19 | 79.38 | 81.61 | 79.42 | 79.18 | 79.21 | 79.34 | 80.13 | 81.22 | 81.72 | 80.46 | 83.77 | 83.49 |
3-month Saudi interbank rate (%) | 0.89 | 0.86 | 0.86 | 0.82 | 0.78 | 0.77 | 0.77 | 0.78 | 0.78 | 0.83 | 0.88 | 0.93 | 1.03 |
Source: Sama |
Power
Saudi Arabia peak power demand growth
Saudi Arabia power demand growth
Saudi Arabia power demand | |
---|---|
Demand (MW) | |
2000 | 21,000 |
2010 | 43,000 |
2020f | 85,000 |
2030f | 120,000 |
f=Forecast. Source: Saudi Electricity Company (SEC) |
Saudi peak electricity demand growth (%) | |
---|---|
2008 | 7 |
2009 | 8 |
2010 | 10 |
2011 | 5 |
2012 | 8 |
2013 | 3.7 |
2014 | 5 |
Source: MEED |
Saudi Electricity Company planned new capacity by year (MW) | |||||||||
---|---|---|---|---|---|---|---|---|---|
Scheme | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
Qurrayah (steam turbine) | |||||||||
PP12 | |||||||||
Duba | 600 | ||||||||
PP13 | 1,800 | ||||||||
Shuaiba | |||||||||
PP14 | 1,755 | ||||||||
North Qassim | 1,800 | ||||||||
South Medina (Taiba ISCC) | 3,780 | 1,800 | |||||||
Waad al-Shamal | 1,050 | ||||||||
PP15 | 1,800 | 1,800 | 1,800 | ||||||
PP16 | 1,200 | 600 | 1,200 | ||||||
Al-Kharj | 500 | ||||||||
Al-Rays | 1,800 | 1,800 | |||||||
Ras Abu Qumais | 1,800 | 1,800 | |||||||
Ras al-Khair | 1,800 | 1,800 | 1,800 | ||||||
ISCC=Integrated solar combined-cycle. Source: SEC |
Projects
Value of projects planned and under way in Saudi Arabia
Saudi Arabia biggest projects underway | ||||||
---|---|---|---|---|---|---|
Q4 2015 Rank | Project | Client | Industry | Contract Value ($m) | Main Contract Award | Scheduled Completion |
1 | Riyadh Light Rail Transit (Riyadh Metro): Lines 1 & 2 | Arriyadh Development Authority | Transport | 9,289 | 2013 | 2019 |
2 | Haramain High-Speed Rail Network: Phase 2 | Saudi Railways Organisation | Transport | 8,396 | 2011 | 2016 |
3 | Riyadh Light Rail Transit (Riyadh Metro): Lines 4, 5 & 6 | Arriyadh Development Authority | Transport | 7,820 | 2013 | 2018 |
4 | Riyadh Light Rail Transit (Riyadh Metro): Line 3 | Arriyadh Development Authority | Transport | 5,942 | 2013 | 2018 |
5 | KAIA: Phase 1: New Terminal: Package 1 | General Authority Of Civil Aviation | Transport | 4,034 | 2010 | 2016 |
6 | Military Medical City in Riyadh: Phase 1 | Ministry of Defence | Construction | 3,800 | 2015 | 2020 |
7 | Housing Development: Phase 2 | Saudi National Guard | Construction | 3,600 | 2011 | 2015 |
8 | Abraj Kudai in Mecca | Ministry of Finance | Construction | 3,500 | 2013 | 2018 |
9 | King Abdullah Project: Security Forces Medical Complex: Riyadh | Ministry of Interior | Construction | 3,350 | 2013 | 2018 |
9 | King Abdullah Project: Security Forces Medical Complex: Jeddah | Ministry of Interior | Construction | 3,350 | 2013 | 2018 |
Source: MEED Projects |
Transport
Saudi transport contract awards, 2015
Saudi infrastructure and transport contract awards, 2015 | |
---|---|
ctor | Contract value ($m) |
Airports | 1,034 |
Ports | 172 |
Roads | 4,907 |
Rail | 603 |
Total | 6,716 |
Source: MEED Projects |
Key infrastructure projects planned to be awarded in 2016 | ||||
---|---|---|---|---|
Project | Project owner | Sub-sector | Estimated budget ($m) | Status |
Jeddah Metro: Green line | Jeddah Metro Company | Rail | 1,500 | Prequalification |
Jeddah Metro: Orange and Blue lines | Jeddah Metro Company | Rail | 8,000 | Prequalification |
Jeddah Metro: Red line | Jeddah Metro Company | Rail | 3,500 | Prequalification |
Jeddah Light Rail Transit | Jeddah Metro Company | Rail | 1,500 | Prequalification |
Obhur suspension bridge | Jeddah Metro Company | Roads | 1,000 | Under bid |
Mecca Metro: phase 1 (Lines B and C) civils, package 1 | Development Commission of Mecca & Mashaaer | Rail | 2,653 | Under bid |
Mecca Metro: phase 1 (Lines B and C) systems | Development Commission of Mecca & Mashaaer | Rail | 3,547 | Under bid |
Completion of Qasim-Mecca direct highway: Mecca portion | Transport Ministry | Roads | 1,560 | Under bid |
Completion of Tabuk-Medina highway: Medina portion | Transport Ministry | Roads | 1,118 | Under bid |
Source: MEED Projects |
Retail
Growth in saudi retail spending
Retail spending ($m) | ||||||
---|---|---|---|---|---|---|
Categories | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
Retail sales, of which: | 118,132 | 130,266 | 143,974 | 159,683 | 177,314 | 196,064 |
- Grocery Retailers | 38,968 | 42,210 | 45,965 | 50,079 | 54,903 | 59,649 |
Non-Grocery specialists, of which: | 74,930 | 83,188 | 92,330 | 102,905 | 114,387 | 126,661 |
- Apparel & Footwear | 12,659 | 14,251 | 16,198 | 18,365 | 20,428 | 22,127 |
- Electronics & Appliances | 17,310 | 19,466 | 21,887 | 24,794 | 28,240 | 32,325 |
- Health & Beauty | 8,979 | 9,982 | 11,109 | 12,359 | 13,761 | 15,235 |
- Home & Garden | 13,720 | 14,913 | 16,017 | 17,308 | 18,526 | 19,796 |
- Leisure & Personal Goods | 20,637 | 22,895 | 25,393 | 28,312 | 31,618 | 35,318 |
- Other | 1,626 | 1,682 | 1,726 | 1,767 | 1,816 | 1,861 |
Mixed Retailers (department stores etc) | 2,643 | 2,864 | 3,118 | 3,389 | 3,692 | 4,023 |
Luxury Retailing | 1,697 | na | na | na | na | na |
Non-Store Retailing* | 1,590 | 2,004 | 2,560 | 3,311 | 4,332 | 5,730 |
*=includes direct selling, home shopping, internet, mobile, and vending machines; na=not available. Source: Euromonitor |
Growth in Saudi retail spending (%) | |||||
---|---|---|---|---|---|
Categories | 2015/16 | 2016/17 | 2017/18 | 2018/19 | 2019/20 |
Retailing | 10.3 | 10.5 | 10.9 | 11 | 10.6 |
- Grocery Retailers | 8.3 | 8.9 | 8.9 | 9.6 | 8.6 |
Non-Grocery specialists, of which: | 11 | 11 | 11.5 | 11.2 | 10.7 |
- Apparel & Footwear | 12.6 | 13.7 | 13.4 | 11.2 | 8.3 |
- Electronics & Appliances | 12.5 | 12.4 | 13.3 | 13.9 | 14.5 |
- Health & Beauty | 11.2 | 11.3 | 11.3 | 11.3 | 10.7 |
- Home & Garden | 8.7 | 7.4 | 8.1 | 7 | 6.9 |
- Leisure & Personal Goods | 10.9 | 10.9 | 11.5 | 11.7 | 11.7 |
- Other | 3.5 | 2.6 | 2.4 | 2.8 | 2.5 |
Mixed Retailers (department stores etc) | 8.4 | 8.9 | 8.7 | 8.9 | 9 |
Non-Store Retailing | 26 | 27.7 | 29.3 | 30.8 | 32.3 |
Source: Euromonitor |
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