Riyadh, March 10, 2025 – The Saudi Arabian economy has witnessed a significant surge in liquidity levels, with the total money supply (broad money, M3) growing by SAR 236.129 billion, or 9%, in 2024. By the end of the year, the liquidity level reached SAR 2.921 trillion, compared to SAR 2.685 trillion at the end of 2023. This notable growth reflects a positive economic trend and is highlighted in the Saudi Central Bank (SAMA) monthly statistical bulletin for December 2024, showcasing the continuing strength of the country’s financial system.
Throughout 2024, liquidity levels increased steadily, growing by SAR 236.129 billion or 7.4% from January to December. Over the past five years, from 2020 to 2024, liquidity levels have experienced remarkable positive growth, rising by 36%, or approximately SAR 772.205 billion. This consistent upward trajectory reflects the robustness of the Saudi economy, with liquidity serving as a key driver in fueling economic activity, business operations, and overall growth.
The liquidity growth is a crucial indicator of the health and stability of the country’s commercial and financial system. It demonstrates the ample availability of money, which is essential for investment, spending, and fostering economic development. These increasing liquidity levels provide ample resources to support both domestic and international business activities and ensure the sustained flow of capital within the Kingdom.
SAMA’s report also provides a breakdown of the components within the broad money supply (M3), offering a detailed view of the financial landscape. Demand deposits, which make up the largest share of the total money supply, represented 49.3% of the overall liquidity, amounting to SAR 1.440 trillion by the end of 2024. This category includes funds held in checking accounts and other highly liquid assets, essential for day-to-day transactions in the economy.
Time and savings deposits, the second-largest contributor to the total money supply, accounted for SAR 949.708 billion, or 32.5%. These deposits are often held for longer terms and earn interest, reflecting a significant portion of the population’s savings that contribute to long-term economic stability.
In addition to these two major categories, quasi-monetary deposits—such as certificates of deposit and other short-term savings instruments—amounted to SAR 302.036 billion, or 10.3% of the total money supply. These deposits provide businesses and individuals with an alternative investment option while still contributing to the overall liquidity available in the economy.
Currency in circulation outside banks, which ranked fourth in terms of contribution to the money supply, reached SAR 229.088 billion by the end of 2024. This category represented 7.8% of the total liquidity and reflects the cash held by individuals and businesses for immediate use in everyday transactions.
Overall, the growth in liquidity levels underscores the strength and resilience of the Saudi economy, positioning it as a regional and global economic leader. The steady increase in money supply throughout 2024, combined with the positive growth observed over the past five years, highlights the Kingdom’s commitment to maintaining a stable and vibrant financial ecosystem. This stability is critical in attracting both domestic and international investments, fostering sustainable growth, and ensuring long-term economic prosperity for the Kingdom of Saudi Arabia.
As Saudi Arabia continues to diversify its economy under Vision 2030, these positive liquidity trends are expected to play a key role in supporting the broader goals of economic transformation, private sector growth, and global competitiveness. The steady growth in liquidity levels is a clear indicator of the Kingdom’s robust financial infrastructure and its ability to adapt to changing economic conditions, making it well-positioned for the future.
