GCC Macro Daily(Beta Mode)
Saudi Non-Oil GDP Hits $278bn, MSCI UAE Jumps
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| Saudi Aramco | 26.52 | -0.30% |
| MSCI Saudi | 38.56 | +0.38% |
| MSCI UAE | 20.30 | +3.49% |
| DFM General | 6,163.50 | -1.69% |
| MSCI Qatar | 18.54 | +0.22% |
| MSCI Kuwait | 37.41 | +0.00% |
| Brent Crude | 79.34 | -0.64% |
| WTI Crude | 75.57 | -1.34% |
| Gold | 4,204.30 | -0.47% |
| USD/SAR | 3.75 | +3.08% |
| USD/AED | 3.67 | +0.03% |
| USD/KWD | 0.31 | -0.10% |
| Bitcoin | 64,143.90 | -0.15% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Saudi Non-Oil Export Value | Type: macro_line | USD mn: 21.45 (2026-03-01) | Range: -36.57–98.83 | Trend(5pt): 73.58,31.3,-15.45,3.387,21.45
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Saudi non-oil sectors contribute $278.6bn with exports at record $166.1bn
- MSCI UAE jumps 3.49% while DFM General falls 1.69%
- No economic data releases scheduled for 22 June across GCC
Yesterday's Recap
Saudi Arabia reported non-oil sectors contributed $278.6bn to the economy while exports reached a record $166.1bn, underscoring Vision 2030 progress. Saudi Arabia maintained its third-place global ranking for business creation and led cybersecurity standings for a third straight year. UAE retained its top-five global competitiveness position.
Equity markets showed divergence: MSCI UAE rose 3.49% and MSCI Saudi gained 0.38%, while DFM General declined 1.69% and Saudi Aramco fell 0.30%. Brent crude slipped 0.64% to $79.34/bbl and WTI dropped 1.34% to $75.57/bbl. GCC FX pegs held steady with USD/SAR at 3.75 and USD/AED at 3.67.
Kuwait’s USD/KWD rate edged down 0.10% to 0.31. Saudi Arabia’s push toward a cashless economy continues alongside strong business-formation metrics. UAE and Saudi Arabia remain primary destinations for Pakistani workers.
Qatar factory explosion left several injured with no gas leak detected. Broader diversification efforts in Oman and Bahrain focus on tourism and logistics.
The Day Ahead
No major data releases are scheduled across the GCC for 22 June. Markets will monitor OPEC+ compliance signals ahead of the July ministerial meeting. Saudi Arabia’s non-oil PMI momentum and UAE tourism recovery remain focal points for investors.
Regional equity volumes are expected to stay moderate absent fresh catalysts. FX reserve data from Bahrain and Oman may provide minor updates later in the week. Emirates adds four weekly Dubai-Accra flights as Ghana demand grows.
UAE riders claim top three spots in Emirates Global Endurance Series opener in France. Dubai tourism and businesses expect bookings boost as UK eases UAE travel warning.
Other Economic Notes
Saudi Arabia’s march toward a cashless economy advances with continued reforms. UAE retains top-five global competitiveness ranking. Saudi Arabia and France back Uzbekistan’s new $78 million green economy initiative.
Russian economy minister states Russia is a reliable partner for Saudi Arabia. Egypt, Pakistan, Saudi Arabia and Türkiye affirm US-Iran agreement should ensure security and stability of Gulf region. <i>↓ p.2</i>
