RIYADH: Saudi Arabia’s share of the Arab financial system grew 0.4 proportion factors in 2021, because it retained its place because the area’s largest financial participant.
The Kingdom recorded a home output of $833.5 billion final yr, the equal of 29.7 % of your entire Arab area, based on a report of the Arab Company for Funding and Export Credit score Assure, Dhaman.
The UAE was the second largest Arab financial system, with $410 billion — 14.6 % of the overall, whereas Egypt ranked third, with a manufacturing of $402.8 billion.
Dhaman Director Normal Abdullah Ahmed Al-Sabeeh expects continued progress in 2022, particularly after the worth of overseas initiatives imported to the area elevated by 86 % to succeed in $21 billion through the first quarter of 2022, in comparison with the identical interval in 2021.
The report confirmed that the Arab financial system as an entire, outperformed the eighth largest financial system on the planet, Italy, with a gross home product of $2.1 trillion.
International direct funding grew within the area, with influx rising by 43 % year-on-year, equal to about $53 billion.
This introduced the FDI whole to round $1.58 trillion.
These inflows characterize 6.3 % of incoming flows to growing international locations and three.3 % of worldwide flows.
Greater than 96 % of the elevated inflows are concentrated in simply 5 international locations, led by the UAE with $20.7 billion, and adopted by Saudi Arabia with $19.3 billion.
Egypt got here in third place with a worth of $5.1 billion, adopted by Oman in fourth place with a worth of $3.6 billion, Morocco in fifth place with $2.2 billion value of inflows, Dhaman annual monitoring knowledge confirmed.
FDI balances acquired by Arab international locations elevated by the top of 2021 from $958 billion to greater than $1 trillion in 2021, based on UNCTAD knowledge.
For the overall quantity acquired, Saudi Arabia topped the Arab rating with $261 billion, representing 26 % of the Arab whole, adopted by the UAE with $171.6 billion, and Egypt with $137.5 billion.