Arab stock exchanges, led by the UAE and KSA, Recorded $493 billion profits in 2023

Arab stock markets recorded record gains of approximately $493 billion in 2023, with the financial markets in the UAE and Saudi Arabia leading the winners.

According to UAE News Agency “WAM,” the market capitalization of Arab stock exchanges increased to approximately 4 trillion and 558 billion and 216 million and 586 thousand dollars at the end of 2023, compared to around 4 trillion and 65 billion and 559 million and 3 dollars at the end of 2022.

The UAE market’s gains reached approximately $117.5 billion, with its market capitalization rising from $873.05 billion at the end of 2022 to $990.6 billion at the end of last year.

The gains of the UAE markets were distributed as $88.8 billion for the Abu Dhabi Securities Exchange, with its market capitalization growing from $714.6 billion in 2022 to $803.4 billion in 2023. Meanwhile, the gains of the Dubai Financial Market reached approximately $28.7 billion, with its market value rising from $158.4 billion to $187.2 billion.

The Saudi stock market, “Tadawul,” gained approximately $368.2 billion, increasing its market capitalization from $2.633 trillion at the end of 2022 to over $3 trillion by the end of last year. Meanwhile, the gains of the Egyptian stock exchange reached around $16.8 billion, raising its market value from $38.8 billion to $55.6 billion.

The Casablanca Stock Exchange achieved gains of approximately $9.6 billion, increasing its market capitalization from $53.6 billion in 2022 to $63.2 billion in 2023. Similarly, the Beirut Stock Exchange earned about $5.9 billion, raising its market capitalization from $14.4 billion to $20.4 billion. The Qatar Stock Exchange saw gains of $4.5 billion, with its market value increasing from $167.09 billion to $171.6 billion.

The gains of the Damascus Stock Exchange reached approximately 2.2 billion dollars last year, with its market value rising from 2.06 billion dollars to 4.27 billion dollars. Meanwhile, the gains of the Muscat Stock Exchange reached 170.3 million dollars, with its market capitalization reaching around 61.8 billion dollars. The Tunis Stock Exchange earned around 137.5 million dollars, and its market capitalization reached 7.9 billion dollars.

According to the data, the market capitalization of the Kuwait Stock Exchange reached $131.6 billion, the Muscat Stock Exchange reached $23.9 billion, the Bahrain Stock Exchange reached $20.6 billion, and the Palestine Stock Exchange reached $4.62 billion, all by the end of last year 2023.