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Foreign Investor Shares in Saudi Stock Market Settle Above 5%

Foreign Investor Shares in Saudi Stock Market Settle Above 5%

Monday, 3 September, 2018 - 12:00
A Saudi trader monitors stocks at the Saudi stock market in Riyadh. Reuters/Faisal Nasser
Riyadh - Shujaa al-Bogmi
The shares of foreign investors in the Saudi stock market reached 5.06 percent end of August, exceeding five percent for the second month in a row.

The market value of the shares has inched close to SAR100 billion (USD26.6 billion), reaching at the end of August tradings to SAR95.9 billion (USD25.5 billion).

The data comes as a report by the Saudi Ministry of Commerce and Investment revealed a growth in the profitability of the Saudi private sector in 2017. Sectors that enjoyed the most growth were administrative consultations, manufacturing of equipment, mining, recycling, natural gas, financial consultation activities, training, education, maintenance, agricultural activities, administrative facilities and warehouses of medical and pharmaceutical products.

Qawaem 2017 report revealed that the growth included revenues of the refined oil products industry, chemical products industry, education, agriculture, fishing, medicines, pharmaceuticals, health, food products, media, and publishing.

All institutions of the private sector are compelled to provide Qawaem with financial lists of 2017, within a determined period after the end of the fiscal year. The program aims to improve and increase work efficiency and take advantage of the financial statements to provide information and services unique to the beneficiaries, stakeholders, and shareholders.

According to the General Authority for Statistics, the domestic product of the non-oil sector in Saudi Arabia achieved positive growth of 1.6 percent during the first quarter of the current year, while that of the non-oil sector reached around 2.7 percent during the same period.

The economy expanded at an annual rate of 1.2 percent in the first quarter, according to the authority. 

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