Abstract
Saudi Vision 2030 aims to improve Saudi Arabia’s ranking on the Global Competitiveness Index from 25 in 2015–2016 to within the top 10 by 2030. It also strives to increase the share of non-oil exports in non-oil GDP from 16% in 2016 to 50% by 2030. To achieve these goals, decision-making process should be better informed about the driving forces of Saudi Arabia’s competitiveness. To this end, we consider the real effective exchange rate (REER) as a measure of external price competitiveness, as it captures domestic and global changes in prices.
