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Large Cap4,023 0.80
Med Cap3,850 0.49
Small Cap4,907 0.91
Micro Cap8,519 0.62

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GFH 0.46 3,578,848
QNBK 135.9 109,396
SABIC 98.06 2,513,945
DSI 0.39 45,711,538
AMLAK 1.09 12,534,009
AIRARABIA 1.12 4,055,524
EEC 18.03 354,774

Trade Notes Saudi Arabia

Source: Banque Saudi Fransi

Tightening ties

Asian oil demand and pragmatism at crux of Saudi-Indian Relations

• Saudi exports to India rise seven-fold, imports jump six-fold between 2000 and 2008, with trade balance consistently favouring the kingdom

• India’s geographic dependence on Saudi oil likely to grow in coming years as it seeks energy security to support economic growth plans

• Prime Minister Manmohan Singh set to make first official visit by an Indian PM to Saudi Arabia in 28 years as two states strive to deepen economic and diplomatic ties

The trading relationship between Saudi Arabia and India is among the most-strategic bilateral bonds for either country. As India’s largest supplier of crude oil, Saudi Arabia is favourably positioned to benefit from burgeoning demand for energy in Asia’s third-largest economy, set to experience annual economic growth rates of 7-8% for the foreseeable future. The balance of trade between the two states has consistently swung in favour of kingdom, its trade surplus standing at SR67.3 billion in 2008, up almost seven-fold from 2000 levels.

For India, Saudi Arabia comes fourth after China, the United States and the United Arab Emirates as its most-important trading partner. Saudi imports of Indian goods stood at SR18 billion in 2008, marking an almost six-fold rise from 2000, according to data of the Saudi Arabian Monetary Agency (SAMA). That positioned India as the sixth-largest source of Saudi imports, accounting for 12.4% of the kingdom’s total imports from Asia in 2008.

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