KSA Financial Brokerages Market – Key Brokerage Houses

 KSA Financial Brokerages Market – Key Brokerage Houses

Gurugram, India, June 30, 2021 (GLOBE NEWSWIRE) — Saudi Arabia economy has been relying heavily on hydrocarbons industry; contributing > 40% of GDP (2015). As oil market experienced boom during 2003-2014, the country’s overall GDP grew by ~5% (annualized). Being one of the largest oil producers in the Middle Eastern region, KSA jumped from position of 27th largest economy in world in 2003 to 19th in 2014.

However, as oil prices plummeted across the world, KSA economy experienced shrinkage in GDP for the first time post financial crisis. But, during such tough times, its non-oil private sector grew by 0.9% for the first time since 2015. It was only after this event that the government of Saudi Arabia decided to shift its heavy reliance on oil for its overall economic development. On lines of development of non oil sector, the government introduced Vision 2030 in year 2016 with a part being accredited to increased role of…

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