沙特阿拉伯TASI指数 (TASI) 加自选

2025年5月，沙特阿拉伯的工业生产同比增长1.5%，高于4月份向下修正的0.9%的增长。这一增长主要是由制造业产出增长0.9%推动的，这得益于化学品和化学产品（14.0%）以及食品（3.2%）的强劲增长。 此外，随着该国石油产量从2024年5月的899万桶增至每天918万桶，采矿和采石活动增长了2.1%。供水、污水处理、废物管理和修复行业也实现了强劲增长，增长了15.5%。相反，电力、天然气、蒸汽和空调供应下降了7.7%。按月计算，工业产出反弹，在4月份修正后下降1.6%后，5月份增长2.5%。

Industrial production in Saudi Arabia increased by 1.5% year-on-year in May 2025, accelerating from a downwardly revised 0.9% rise in April. The growth was primarily driven by a 0.9% increase in manufacturing output, supported by strong gains in chemicals and chemical products (14.0%) and food products (3.2%). Additionally, mining and quarrying activity grew 2.1%, as the country’s oil production rose to 9.18 million barrels per day, up from 8.99 million barrels in May 2024. The water supply, sewerage, waste management, and remediation sector also saw robust growth, climbing 15.5%. Conversely, electricity, gas, steam, and air conditioning supply declined by 7.7%. On a monthly basis, industrial output rebounded, rising 2.5% in May after a revised 1.6% fall in April.

利雅得银行沙特阿拉伯的采购经理人指数从5月份的55.8升至2025年6月的三个月高点57.2，表明非石油私营部门状况强劲改善。这一增长是由强劲的国内需求、新项目的启动和营销力度的加强推动的。新订单是四个月来增长最快的，公司为了应对工作量的增加，以2011年5月以来最快的速度扩大了招聘。随着企业建立库存以满足未来需求，采购活动也激增，达到两年来的最高点。在成本方面，工资压力加剧，导致员工成本创下历史新高，并导致整体投入价格再次上涨。随着企业重新获得定价权并试图转嫁更高的成本，销售价格相应上涨，为2023年底以来的最高水平。尽管面临这些压力，但商业信心攀升至两年来的最高水平，反映出对持续需求和经济韧性的乐观预期。

Riyad Bank Saudi Arabia's PMI rose to a three-month high of 57.2 in June 2025, up from 55.8 in May, signaling a robust improvement in non-oil private sector conditions. The uptick was driven by strong domestic demand, new project starts, and enhanced marketing efforts. New orders registered the fastest growth in four months, and firms expanded hiring at the sharpest pace since May 2011 in response to rising workloads. Purchasing activity also surged, reaching a two-year high, as companies built inventories to meet future demand. On the cost side, wage pressures intensified, leading to a record rise in staff costs and contributing to a renewed increase in overall input prices. Selling prices rose accordingly—the most since late 2023—as firms regained pricing power and sought to pass on higher costs. Despite these pressures, business confidence climbed to its highest level in two years, reflecting optimistic expectations for continued demand and economic resilience.

沙特阿拉伯的整体失业率从2024年第四季度的3.5%降至2025年第一季度的2.8%，为1999年有记录以来的最低水平。在性别方面，沙特女性（10.5%对第四季度的11.9%）和沙特男性（4.0%对4.3%）的失业率均有所下降。整体劳动力参与率从第四季度的66.4%上升到68.2%。与此同时，第一季度的就业人口比从上一季度的64.0%上升到66.3%。

The overall unemployment rate in Saudi Arabia fell to 2.8% in Q1 of 2025 from 3.5% in Q4 of 2024, marking the lowest level since records began in 1999. Among genders, the jobless rate declined for both Saudi females (10.5% vs. 11.9% in Q4) and Saudi males (4.0% vs. 4.3%). The overall labor force participation rate increased to 68.2% from 66.4% in Q4. Meanwhile, the employment-to-population ratio rose to 66.3% in Q1 from 64.0% in the previous quarter.

2025年4月，沙特阿拉伯的贸易顺差从去年同期的370亿沙特里亚尔大幅收窄至142亿沙特里亚斯。这是自去年12月以来贸易顺差最小的一次，因为出口大幅下降，进口激增。出口同比暴跌10.9%，至903亿沙特里亚尔的七个月低点，原因是石油出口下滑21.2%，占总出口的68.6%。与此同时，非石油出口增长了24.6%。中国仍然是沙特出口的最大目的地，占出口总额的12.6%，其次是日本（10.1%）和阿联酋（9.8%）。与此同时，由于机械、电气设备和零部件采购激增（25.4%），占进口总额的27.7%，进口额跃升18.3%，达到761亿沙特里亚尔。此外，运输设备和零部件进口激增64.5%，占进口总额的17.2%。在主要供应商中，中国也占据了最大的进口份额，为25.0%，其次是美国（7.5%）和阿联酋（6.8%）。

Saudi Arabia’s trade surplus narrowed sharply to SAR 14.2 billion in April 2025, down from SAR 37.0 billion in the same month last year. It marked the smallest trade surplus since December, as exports slumped while imports surged. Exports plunged 10.9% yoy to a seven-month low of SAR 90.3 billion, due to a 21.2% slump in oil exports, which accounted for 68.6% of total exports. Meanwhile, non-oil exports jumped by 24.6%. China remained the top destination for Saudi exports, representing 12.6% of the total, followed by Japan (10.1%) and the UAE (9.8%). Meanwhile, imports jumped by 18.3% to SAR 76.1 billion, boosted by a surge in purchases of machinery, electrical equipment, and parts (25.4%), which constituted 27.7% of total imports. Also, transportation equipment and parts imports soared by 64.5%, which represented 17.2% of total imports. Among the major suppliers, China also held the largest share of imports at 25.0%, followed by the US (7.5%) and the UAE (6.8%).