Investor Presentation 2022
Domestic Macroeconomic Indicators
Gross Domestic Product (GPD) Growth
According to estimates by GASTAT, real GDP rose by 11.8% y/y in Q2 2022, achieving the
highest growth rate since Q3 2011. This positive growth rate was mainly driven by the
increase in oil activities by 23.1% y/y. whilst, non-oil activities grew by 5.4%, with
government services activities growing by 2.2% y/y.
Saudi Unemployment Rate (15+)
GASTAT's latest labor market release for Q1, 2022 showed that Saudi unemployment
rate fell to 10.1% from 11.0% in Q4 2021. Unemployment rate among male and female
decreased to 5.1% and 20.2%, respectively, whereas unemployment among total
working age population reached 6%, compared to 6.9% in Q4 2021.
Investor Presentation 2022 | stc group
18.0%
Bn (SAR)
2,700
7%
16.0%
2,600
4.1%
3.7%
2,633
2,642
5.4%
2.7%
2,588
2,569
2,500
2,545
14.0% 12.5% 12.3%
5%
12.0%
12.0%
11.8%
2,615
12.0%
31.7%
31.1% 30.8% 30.8%
31.4%
2,533
3%
10.0%
30.2%
15.4%
14.9%
12.6%
34%
11.7%
11.3%
11.3%
11.0%
10.1%
26%
42%
28.2%
3.3%
8.0%
2.5%
2,400
2,445
2,300
2,359
2,297
2,200
1%
1.7%
6.0%
24.4%
22.3%
21.9% 22.5%
18%
21.2%
20.2%
0.3%
-1%
4.0%
8.1% 7.9%
6.6%
7.1% 7.2%
6.0% 5.8%
-0.7%
4.9%
5.6%
6.1% 5.9%
10%
5.2% 5.1%
2.0%
-4.1%
-3%
0.0%
2%
26
Q1-19 Q2-19 Q3-19
Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22
2,100
-5%
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Source: GASTAT
Real GDP (SAR)
Real GDP (% Change)
Total Unemployment Rate
Male
Source: GASTAT
Female
Inflation Rate
The annual inflation rate in Saudi Arabia increased to 2.3% in June 2022 from 2.2% in
the previous month. It is the highest inflation rate since last June, mainly due to higher
prices in food and beverages (+4.4%), followed by transport (+2.5%).
2.8%
2.1%
1.5%
0.2%
0.5
2.1%
2.2%
-0.8%
-0.8%
-0.5%
-1.1%
-1.4%
-2.1%
30-Jun-17
30-Sep-17
31-Dec-17
4
Source: SAMA
31-Mar-18
30-Jun-18
30-Sep-18
31-Dec-18
31-Mar-19
30-Jun-19
30-Sep-19
31-Dec-19
6.2%
5.7%
4.9%
5.3%
31-Mar-20
30-Jun-20
30-Sep-20
31-Dec-20
31-Mar-21
30-Jun-21
0.6%
Government Outlook on Expenditures & Revenues
Bn (SAR)
1200
50%
1045
990
1015
955
968
992
930
941
951
1000
40%
849
800
200
32.7%
2.0% 2.3%
600
29.2%
25.9%
26.9%
25.4%
20%
1.2%
400
10%
30-Sep-21
31-Dec-21
31-Mar-22
30-Jun-22
Source: MoF
0
2021
(budget)
2021
(estimates)
2022
(budget)
2023
(projection)
Total Revenue
Total Expenditure
Debt (%GDP)
0%
30%
2024
(projection)
stcView entire presentation