Current Account Surpluses Here To Stay

Saudi Arabia's current account will continue to outperform by historical and comparative standards with the Kingdom largely staying out of the global rebalancing process. Despite a small hiccup in 2009, the Kingdom's current account surplus has averaged 18.4% of GDP in the past decade (2000-2009) and we foresee large and growing surpluses for the remainder of the five-year forecast period. Indeed, we are forecasting a prodigious US$111.0bn surplus for 2010 (21.5% of GDP) - a level second only to the record surplus of US$175.5bn (37.4%) witnessed in 2010.

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