MarketsAug 20, 2024

📈 Saudi Arabia's Stock Market: A Heavy Reliance on Aramco

Despite Saudi Aramco's market capitalization remaining unchanged since its 2019 IPO, the rest of Saudi Arabia's stock market has grown by 71% from December 2019 to July 2024. However, Saudi Aramco still comprises 67% of the total market capitalization on the Saudi Stock Exchange (Tadawul).

Dataset

Saudi Exchange Market Capitalization
Billion US$

	Saudi Exchange (Tadawul)	Aramco	Rest of Saudi Exchange
2006-12	326		326
2007-01	290		290
2007-02	339		339
2007-03	318		318
2007-04	308		308
2007-05	312		312
2007-06	296		296
2007-07	341		341
2007-08	372		372
2007-09	354		354
2007-10	389		389
2007-11	426		426
2007-12	518		518
2008-01	464		464
2008-02	491		491
2008-03	445		445
2008-04	495		495
2008-05	472		472
2008-06	472		472
2008-07	451		451
2008-08	451		451
2008-09	386		386
2008-10	289		289
2008-11	243		243
2008-12	246		246
2009-01	246		246
2009-02	218		218
2009-03	236		236
2009-04	282		282
2009-05	302		302
2009-06	286		286
2009-07	297		297
2009-08	293		293
2009-09	328		328
2009-10	325		325
2009-11	330		330
2009-12	319		319
2010-01	331		331
2010-02	339		339
2010-03	359		359
2010-04	361		361
2010-05	319		319
2010-06	320		320
2010-07	329		329
2010-08	321		321
2010-09	336		336
2010-10	338		338
2010-11	338		338
2010-12	353		353
2011-01	340		340
2011-02	318		318
2011-03	352		352
2011-04	359		359
2011-05	358		358
2011-06	349		349
2011-07	340		340
2011-08	318		318
2011-09	324		324
2011-10	330		330
2011-11	323		323
2011-12	339		339
2012-01	347		347
2012-02	380		380
2012-03	411		411
2012-04	395		395
2012-05	366		366
2012-06	357		357
2012-07	365		365
2012-08	378		378
2012-09	366		366
2012-10	367		367
2012-11	356		356
2012-12	373		373
2013-01	384		384
2013-02	382		382
2013-03	387		387
2013-04	385		385
2013-05	398		398
2013-06	399		399
2013-07	417		417
2013-08	412		412
2013-09	423		423
2013-10	432		432
2013-11	452		452
2013-12	467		467
2014-01	480		480
2014-02	498		498
2014-03	513		513
2014-04	521		521
2014-05	530		530
2014-06	519		519
2014-07	560		560
2014-08	602		602
2014-09	590		590
2014-10	545		545
2014-11	497		497
2014-12	483		483
2015-01	511		511
2015-02	540		540
2015-03	506		506
2015-04	576		576
2015-05	570		570
2015-06	537		537
2015-07	540		540
2015-08	451		451
2015-09	445		445
2015-10	435		435
2015-11	442		442
2015-12	421		421
2016-01	366		366
2016-02	374		374
2016-03	384		384
2016-04	416		416
2016-05	397		397
2016-06	401		401
2016-07	390		390
2016-08	378		378
2016-09	353		353
2016-10	379		379
2016-11	437		437
2016-12	449		449
2017-01	442		442
2017-02	436		436
2017-03	437		437
2017-04	440		440
2017-05	433		433
2017-06	471		471
2017-07	450		450
2017-08	458		458
2017-09	460		460
2017-10	440		440
2017-11	443		443
2017-12	451		451
2018-01	479		479
2018-02	466		466
2018-03	500		500
2018-04	515		515
2018-05	523		523
2018-06	530		530
2018-07	526		526
2018-08	506		506
2018-09	507		507
2018-10	502		502
2018-11	486		486
2018-12	496		496
2019-01	541		541
2019-02	537		537
2019-03	558		558
2019-04	584		584
2019-05	535		535
2019-06	557		557
2019-07	550		550
2019-08	508		508
2019-09	510		510
2019-10	486		486
2019-11	493		493
2019-12	2,407	1,880	527
2020-01	2,333	1,820	513
2020-02	2,246	1,780	466
2020-03	2,009	1,610	399
2020-04	2,131	1,690	441
2020-05	2,219	1,760	459
2020-06	2,196	1,720	476
2020-07	2,236	1,940	296
2020-08	2,395	2,080	315
2020-09	2,436	2,110	326
2020-10	2,306	1,980	326
2020-11	2,483	2,110	373
2020-12	2,429	2,050	379
2021-01	2,417	2,030	387
2021-02	2,434	2,020	414
2021-03	2,572	1,920	652
2021-04	2,578	1,890	688
2021-05	2,578	1,880	698
2021-06	2,595	1,870	725
2021-07	2,587	1,860	727
2021-08	2,625	1,880	745
2021-09	2,689	1,920	769
2021-10	2,809	2,020	789
2021-11	2,571	1,850	721
2021-12	2,671	1,910	761
2022-01	2,827	1,990	837
2022-02	3,069	2,210	859
2022-03	3,199	2,300	899
2022-04	3,335	2,390	945
2022-05	3,333	2,390	943
2022-06	3,059	2,180	879
2022-07	3,159	2,330	829
2022-08	3,050	2,310	740
2022-09	2,894	2,110	784
2022-10	2,865	2,030	835
2022-11	2,727	1,940	787
2022-12	2,639	1,880	759
2023-01	2,713	1,930	783
2023-02	2,600	1,870	730
2023-03	2,671	1,890	781
2023-04	2,953	2,110	843
2023-05	2,834	2,060	774
2023-06	2,926	2,090	836
2023-07	2,949	2,080	869
2023-08	3,085	2,240	845
2023-09	3,055	2,260	795
2023-10	2,927	2,140	787
2023-11	2,963	2,160	803
2023-12	3,015	2,130	885
2024-01	2,859	2,040	819
2024-02	2,998	2,070	928
2024-03	2,931	1,980	951
2024-04	2,882	1,940	942
2024-05	2,736	1,930	806
2024-06	2,688	1,790	898
2024-07	2,709	1,810	899

Data sources

https://www.saudiexchange.sa/wps/portal/tadawul/home/

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Ehsan Soltani

@Soltani

Economist and Data Visualizer

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📈 Saudi Arabia's Stock Market: A Heavy Reliance on Aramco

Dataset

Data sources

Ehsan Soltani