Riyadh -- Liquidity levels in the Saudi economy experienced robust growth in 2024, reaching an estimated SAR2,945,656 million by the end of November.

This represents an annual increase of 10.3%, or SAR275,155 billion, compared to the same period in 2023 when liquidity stood at SAR2,670,501 million.

These figures reflect the broad money supply (M3) as reported in the Saudi Central Bank (SAMA) monthly statistical bulletin for November 2024.

Liquidity levels increased monthly by 0.3%, or over SAR9,567 billion, compared to SAR2,936,089 million at the end of October 2024.

Liquidity also recorded significant growth from the beginning of 2024 until the end of November, increasing by 8.3% or over SAR224,699 billion. This compares to the liquidity level of SAR2,720,957 million at the end of January.

These robust liquidity levels are a key economic and commercial activity driver, contributing significantly to positive economic growth.

Among the four components of the broad money supply (M3), demand deposits constituted the largest share, accounting for 48.8% or SAR1,436,392 million at the end of November 2024.

Time and savings deposits followed closely, contributing 33.6% with a value of SAR989,986 billion.

Quasi-cash deposits accounted for 9.9% of the total money supply, reaching SAR292,630 billion. Currency in circulation outside banks followed, contributing 7.7% with a value of SAR226,647 billion.

Quasi-cash deposits encompass residents' deposits in foreign currencies, deposits secured by letters of credit, ongoing transfers, and repurchase agreements (repos) conducted by banks with the private sector. 

Domestic liquidity comprises M1, which includes currency in circulation outside banks along with demand deposits exclusively; M2, consisting of M1 plus time and savings deposits; and broad money M3, encompassing M2 along with other quasi-cash deposits.