Saudi Arabia’s liquidity levels reached a record high at the end of May 2024, amounting to SAR 2.82 trillion ($753 billion), according to the Saudi Central Bank (SAMA).
This represents a robust annual growth rate of 8.6%, with an increase of over SAR 222.928 billion compared to the same period in 2023, which stood at SAR 2.602 trillion.
This data is reflected in the broad and comprehensive money supply measure (M3), according to the central bank’s monthly statistical bulletin for May 2024.
Since the beginning of the year, liquidity has grown by 4%, translating to an increase of more than SAR 104.757 billion from SAR 2.720 trillion at the end of January.
Additionally, liquidity saw a monthly growth of 1.2%, increasing by approximately SAR 32.402 billion from SAR 2.793 trillion at the end of April.
These levels of liquidity are expected to support economic and commercial activities, contributing significantly to economic development and facilitating the achievement of Saudi Vision 2030 goals, highlighting the resilience and strength of the Kingdom‘s banking and financial sector.
The four components of the broad money supply (M3) include:
- Demand Deposits: The largest contributor, making up 49.2% of M3, reached SAR 1.390 trillion at the end of May 2024.
- Time and Savings Deposits: The second-largest contributor, accounting for 31.5% of M3, amounted to SAR 889.558 billion.
- Other Quasi-Monetary Deposits: The third-largest contributor, comprising 11.1% of M3, totaled SAR 314.807 billion.
- Currency in Circulation Outside Banks: The fourth component, contributing 8.2% of M3, was valued at SAR 230.456 billion.
