Where the economy of the whole world is staggered, Saudi Arabia’s strong position remains in the Arab economy, UAE in second place
While the whole world is grappling with COVID and war, on the other hand, the economy is also crumbling, meanwhile Saudi Arabia’s share in the Arab economy increased by 0.4 percentage points in 2021 as the kingdom maintains its position as the largest economic player in the region. Is
According to a report by the Arab Corporation for Investment and Export Credit Guarantee, the country recorded a GDP of ₹833.5 billion last year, which is 29.7 percent of the entire Arab region.
The UAE was the second largest Arab economy with 10,410 billion, followed by Egypt with 402.8 billion jgs. Abdullah Ahmed Al-Sabih, director general of the Arab Corporation for Investment and Export Credit Guarantee, expects sustained growth in 2022, especially for imported foreign projects in the region, during the first quarter of 2022 compared to the same period in 2022. The value will increase by 86 percent to 21 billion. This takes the total FDI to about Rs 1.58 lakh crore.
The Arab economy overtook Italy, the world’s eighth-largest economy, with a combined GDP of ₹2.1 trillion.
Foreign direct investment in the region increased. Revenue grew 43 percent year-over-year to nearly 53 billion. These imports account for 6.3 per cent of inflows from developing countries and 3.3 per cent of global inflows.
More than 96 percent growth is concentrated in just five countries, led by the United Arab Emirates at ₹20.7 billion, followed by Saudi Arabia at ₹19.3 billion.
