Market cap of Arab stock exchanges surpassed $4trln by 2022 end; AMF

By Arya M Nair, Official Reporter
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AMF report on Arab stock exchanges
Image Courtesy; WAM

The market cap of Arab stock exchanges has exceeded $4 trillion by the end of 2022, according to the UAE-headquartered Arab Monetary Fund (AMF).

The market value of the Abu Dhabi Securities Exchange (ADX) reached $714.6 billion in the reference year, while that of the Dubai Financial Market (DFM) was valued at $158.4 billion.

AMF said that the Saudi Stock Exchange, Tadawul’s market value was $2.63 trillion, while that of the Qatar Stock Exchange (QSE) was $167.09 billion. The market cap of Boursa Kuwait was $152.7 billion, while that of the Muscat Stock Exchange was $61.6 billion.

The Casablanca Stock Exchange’s market cap was $53.6 billion, while that of the Egyptian Exchange was $38.8 billion, and that of the Bahrain Bourse was $30.2 billion, according to the AMF’s statement.

The market value of the Amman Stock Exchange reached $25.4 billion, that of the Palestine Exchange was $4.89 billion, while Beirut Stock Exchange was put at $14.4 billion, and Damascus Securities Exchange was valued at $2.06 billion.

Last year, AMF forecasted that the economic growth rate for the Arab countries will rise to 5.4 percent in 2022 due to rising oil prices, the increase in production in Arab oil-exporting countries, and the continuation of reforms that promote growth. The Outlook report also warned that the Arab countries are expected to face relatively high inflation rates in 2022 due to local and global inflationary pressures.

The GCC countries are expected to record a relatively high growth rate of 6.3 percent in 2022, compared to 3.1 percent in 2021, thanks to a combination of factors, including the recovery from the Covid-19 pandemic, economic reforms, and continued adoption of stimulus packages, while 2023 will see a decline to 3.7 percent in economic growth, the Outlook report released in 2022 said.

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