Experts have predicted that Saudi per capita income in the gross domestic product (GDP) will climb to SR 116,900 but, however, warned against growing inflation.
Earlier, the International Monetary Fund (IMF) predicted that Saudi per capita income would rise by 27.6 percent in 2011 to SR 81,200 compared to SR 63,600 in 2010.
Based on the Kingdom's annual population growth of 2.21 percent, Saudi population will reach 19.8 million and Saudi per capita income will hit SR 116,900 on the current prices and SR 48,800 based on fixed prices, economic expert Fahad Jumaa said.
He voiced concern that inflation will remain a major threat to Saudi income in the current year.
Jumaa said inflation has direct effect on per capita income as shown in the difference between the nominal and real values of per capita income.
Economic analyst Muhammed Al-Salim said Saudi income was enormously affected by inflation in the last few years, which coincided with the loss of a large segment of citizens of their savings in money market setbacks.
He said economic indicators showed that the real income of Saudis has not changed since the 1980's, a matter that necessitates adoption of solutions through continued government support to subsidize basic commodities, such as food, and create cooperative societies for provision of low-priced items to low-income categories as is the case in some GCC states.
Saudi per capita income may hit SR 116,900
Saudi per capita income may hit SR 116,900
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
