沙特阿拉伯TASI指数 (TASI) 加自选

利雅得银行沙特阿拉伯的采购经理人指数从上个月的八个月低点55.6微升至2025年5月的55.8，仍牢牢高于中性50阈值，表明非石油私营部门持续增长。5月份新订单明显增加，主要受需求上升、销售业绩强劲、持续的工业发展和有效的营销举措的推动。作为回应，公司以十多年来最快的速度之一增加了招聘，这反映了提高员工能力的强烈愿望。与此同时，采购活动强劲增长，达到14个月来的最高水平。在定价方面，5月份投入成本大幅上升，尽管由于工资压力缓解，通货膨胀速度较4月份有所放缓。尽管投入成本较高，但在竞争压力和服务业收费显著下降的推动下，公司降低了销售价格。

Riyad Bank Saudi Arabia's PMI edged up to 55.8 in May 2025 from an eight-month low of 55.6 in the previous month, remaining firmly above the neutral 50 threshold and signaling continued growth in the non-oil private sector. New orders accelerated markedly in May, primarily driven by rising demand, strong sales performance, ongoing industrial development, and effective marketing initiatives. In response, companies ramped up hiring at one of the fastest rates seen in over a decade, reflecting a strong appetite to boost staff capacity. At the same time, purchasing activity saw robust growth, reaching its highest level in fourteen months. On the pricing front, input costs rose sharply in May, though the pace of inflation moderated from April due to easing wage pressures. Despite higher input costs, firms reduced selling prices—driven by competitive pressures and a notable drop in service sector charges.

2025年3月，沙特阿拉伯的贸易顺差从去年同期的301亿沙特里亚尔大幅收窄至198亿沙特里亚斯。这标志着自去年12月以来贸易顺差最小，出口大幅下降，进口小幅上升。出口同比下降9.8%，至938亿沙特里亚尔的四个月低点，原因是石油出口下降16.1%，占总出口的71.2%。与此同时，非石油出口增长了10.7%。中国仍然是沙特出口的最大目的地，占总量的15.5%，其次是印度（9.4%）和日本（8.7%）。与此同时，进口小幅增长0.1%，达到740亿沙特里亚尔，这得益于机械、电气设备和零部件采购的增加（3.6%），占进口总额的26.1%。此外，运输设备和零部件进口增长4.4%，占进口总额的15.2%。在主要供应商中，中国也占据了最大的进口份额，为25.3%，其次是美国（7.8%）和阿联酋（5.9%）。

Saudi Arabia’s trade surplus narrowed sharply to SAR 19.8 billion in March 2025, down from SAR 30.1 billion in the same month last year. It marked the smallest trade surplus since December, as exports plunged while imports edged up. Exports fell 9.8% yoy to a four-month low of SAR 93.8 billion, due to a 16.1% slump in oil exports, which accounted for 71.2% of total exports. Meanwhile, non-oil exports rose by 10.7%. China remained the top destination for Saudi exports, representing 15.5% of the total, followed by India (9.4%) and Japan (8.7%). Meanwhile, imports inched up by 0.1% to SAR 74 billion, boosted by an increase in purchases of machinery, electrical equipment, and parts (3.6%), which constituted 26.1% of total imports. Also, transportation equipment and parts imports rose by 4.4%, which represented 15.2% of total imports. Among the major suppliers, China also held the largest share of imports at 25.3%, followed by the US (7.8%) and the UAE (5.9%).

2025年4月，沙特阿拉伯的年通货膨胀率为2.3%，保持在2023年7月以来的最高水平，略高于市场预测的2.2%。价格上涨主要是食品和饮料（3月份为2.2%对2.0%）和教育（1.3%对1.1%）。此外，家具和家用设备的成本下降速度较慢（-1.8%对-2.6%）。相比之下，住房和公用事业的通货膨胀有所缓和（6.8%对6.9%），而通信（-1.5%对-1.4%）、服装和鞋类（-1.2%对-0.8%）以及交通（-1.0%对-0.8%”）的通货膨胀进一步下降。娱乐和文化成本也下降（-0.7%对0.3%）。按月计算，4月份消费者价格指数上涨0.3%，与上月持平。

The annual inflation rate in Saudi Arabia stood at 2.3% in April 2025, remaining at its highest since July 2023 and slightly above market forecasts of 2.2%. Prices accelerated mainly for food and beverages (2.2% vs 2.0% in March) and education (1.3% vs 1.1%). Additionally, costs declined at a slower pace for furnishings and household equipment (-1.8% vs -2.6%). In contrast, inflation moderated for housing and utilities (6.8% vs 6.9%), while it decreased further for communication (-1.5% vs -1.4%), clothing and footwear (-1.2% vs -0.8%), and transport (-1.0% vs -0.8%). Costs also fell for recreation and culture (-0.7% vs 0.3%). On a monthly basis, consumer prices rose by 0.3% in April, maintaining the same pace as in the previous month.

沙特阿拉伯的年度批发价格通胀从前一个月的1.5%加速至2025年4月的2.0%。这标志着自2024年10月以来的最高批发通胀，主要是由于农产品和渔业产品（4.5%对3月份的3.6%）和其他可运输货物（不包括金属制品、机械和设备）的成本增长更快（4.1%对3.2%）。此外，金属制品、机械和设备（-0.1%对-0.2%）以及矿石和矿物（-1.7%对-1.9%）的通货紧缩有所缓解。与此同时，食品、饮料、烟草和纺织品的价格停滞不前，而前一个月上涨了0.1%。按月度计算，批发价格在上个月上涨0.4%后，于2025年4月上涨至0.1%。

The annual wholesale price inflation in Saudi Arabia accelerated to 2.0% in April 2025 from 1.5% in the previous month. This marked the highest wholesale inflation since October 2024, mainly due to a faster increase in the costs of agricultural and fishery products (4.5% vs 3.6% in March) and other transportable goods, excluding metal products, machinery, and equipment (4.1% vs 3.2%). In addition, deflation eased for metal products, machinery, and equipment (-0.1% vs -0.2%) and for ores and minerals (-1.7% vs -1.9%). Meanwhile, prices for food products, beverages, tobacco, and textiles stalled, compared to a 0.1% rise in the previous month. On a monthly basis, wholesale prices rose to 0.1% in April 2025, following a 0.4% gain in the previous month.