Saudi Arabia Returns to Current-Account Surplus on Strong Oil Exports

Saudi Arabia has returned to a current-account surplus after nearly two years, driven by a large goods trade surplus and stronger oil export receipts. This shift marks a significant turnaround from the $6 billion deficit recorded in 2024 following a previous $35 billion surplus in 2023, reflecting the kingdom's progress toward fiscal consolidation. The World Bank forecasts the surplus to reach 3.3% of GDP in 2026, indicating that exports now exceed imports and strengthening the nation's balance of payments. This positive change enhances Saudi Arabia's net foreign assets and financing capacity, benefiting the country's overall economic stability while supporting moderate domestic demand.