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  • 30-05-21

    Saudi CAPEX declines 14 percent in 2020

    (MENAFN)New research showed that Companies listed on the Saudi Stock Exchange (Tadawul) spent SR177 billion (USD47 billion) on capital expenditure (CAPEX) in last year or 7 percent of the Kingdom’s gross domestic product (GDP).

    CAPEX decreased by 14 percent in 2020, as supply chains were interrupted as a result of the pandemic, other than the effect were not at the same level across sectors.

    The hardest-hit were energy, entertainment, real estate development, consumer services, durables, tourism, and media. But, companies in the telecom, banking and insurance, transportation, and public services sectors witnessed CAPEX raises.

    Saudi Aramco managed the pack in last year with CAPEX of SR101 billion, followed by the Saudi Electricity Co. (SR23 billion) and SABIC (SR15 billion).

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