IMF Slashes 2025 Economic Growth Forecast for Saudi Arabia
Jan 23, 2025

IMF Slashes 2025 Economic Growth Forecast for Saudi Arabia

The International Monetary Fund (IMF) has adjusted its growth forecast for Saudi Arabia, projecting a GDP increase of just 3.3 percent in 2025, primarily due to continued oil production cuts. IMF forecast indicates a broader impact on the Middle East and Central Asia region's economic outlook.

The revised forecast marks a significant change from the earlier projection of 4.6 percent growth outlined in the IMF's October Regional Economic Outlook report. For 2024, the IMF has further reduced its growth estimate for the Gulf state to 1.4 percent, down from 1.5 percent.

As a result of these adjustments, the Middle East and Central Asia region's growth forecast has been downgraded to 3.6 percent for this year, a drop from the previous 3.9 percent expected in October. The IMF statement highlighted that the revision is primarily driven by a major downward adjustment to Saudi Arabia's 2025 growth estimation due to ongoing OPEC+ production cuts.

Despite earlier predictions from analysts forecasting a sharp economic rise for Saudi Arabia in 2025, reflecting a projected expansion of 4.4 percent by a Reuters poll and 4.6 percent by the Saudi government, recent developments have prompted revisions. OPEC+ has announced a delay in the increase of oil output until April 2025, responding to weak global demand and increased production elsewhere.

These developments continue to affect Saudi Arabia's revenue, which heavily relies on oil. However, the kingdom remains committed to augmenting non-oil growth as part of its wider economic transformation plans. The IMF further anticipates a decline in energy commodity prices by 2.6 percent in 2025, exceeding the assumptions made in October.

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

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    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
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    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

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    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
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  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

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    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
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    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
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  7. 7. GLOBAL PRODUCTION

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    1. PRODUCTION VOLUME AND VALUE
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    1. IMPORTS FROM 2012–2024
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  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
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  10. 10. PROFILES OF MAJOR PRODUCERS

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  11. 11. COUNTRY PROFILES

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    • United States
    • China
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    • United Kingdom
    • France
    • Brazil
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    • India
    • Canada
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    • Spain
    • Mexico
    • Indonesia
    • Netherlands
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    • Switzerland
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    • Pakistan
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    • Algeria
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    • Qatar
    • Peru
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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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