Strength of Saudi Arabia's External Position Supports Economy Despite Challenges of War
The Saudi economy continues to benefit from the strength of its external position, supported by significant reserves and revenues from its oil and non-oil exports, despite the challenges imposed by the regional war on trade and tourism. Data from the second quarter of the current year showed a decline in the current account deficit by around 30 percent compared to the same period last year, at a time when personal remittances abroad recorded a record level.
