Arab stock markets hit record gains of over $493 bn in 2023

UAE and Saudi Arabia propel region's robust market performance
Arab stock markets hit record gains of over $493 bn in 2023
Even in emerging markets, positive trends were evident

Arab stock markets experienced an unprecedented surge in 2023, reaching record highs with combined gains totaling $493 billion. This remarkable achievement underscores the resilience and dynamism of the region’s financial landscape.

UAE key driver in Arab stock markets

The United Arab Emirates (UAE) emerged as a key driver of this financial upswing in Arab stock markets, contributing significantly to the collective gains. The UAE added an impressive $117.5 billion to its market value, reaching a substantial $990.6 billion by the end of 2023. Both the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) played pivotal roles. ADX contributed $88.8 billion, soaring to $803.4 billion. Meanwhile, DFM witnessed a $28.7 billion increase, elevating its total market value to $187.2 billion.

Tadawul’s stellar performance

The Saudi Stock Exchange, Tadawul, emerged as another major standout among Arab stock markets, generating gains of $368.2 billion. This propelled its market capitalization to an impressive figure, crossing the $3 trillion mark. Hence, Tadawul showcases the Kingdom’s robust economic performance.

Regional performance

Egypt’s stock exchange also posted impressive gains among other Arab stock markets, adding $16.8 billion and expanding its market value to $55.6 billion. Moreover, the Casablanca Stock Exchange witnessed a notable surge of $9.6 billion, reaching $63.2 billion. Furthermore,  the Beirut Stock Exchange surged by $5.9 billion, reaching $20.4 billion. On the other hand, the Qatar Stock Exchange maintained momentum, adding $4.5 billion, reaching a market capitalization of $171.6 billion.

Even in emerging markets, positive trends were evident that contributed to further growth in the Arab stock markets. Damascus experienced a significant surge to $4.27 billion. While Muscat edged up $170.3 million to $61.8 billion, and Tunisia added $137.5 million, reaching $7.9 billion.

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Year-end market values

As 2023 concluded, the Kuwait Stock Exchange stood at $131.6 billion and the Oman Stock Exchange at $23.9 billion. Meanwhile, the Bahrain Stock Exchange stood at $20.6 billion and the Palestine Stock Exchange at $4.62 billion. These figures highlight the diverse and thriving financial landscapes across the Arab region. Therefore, the record-breaking gains in 2023 underscore the resilience and attractiveness of Arab stock markets, positioning the region as a key player in the global financial arena.

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