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Madinah Chamber of Commerce and Industry stated that the total number of economic licenses issued until the end of Q1 2024 reached 103,370, a rise of 0.7% quarter-on-quarter (QoQ) and 10.8% year-on-year (YoY).
A total of 18 sectors recorded varying increase rates in the three-month period, while the financial activities and the healthcare sectors declined during Q1 2024, the chamber stated in a recent report covering 20 sectors.
Among the 20 sectors, the mining sector ranked first, with a rise of 27.4%, followed by the contracting sector (21.9%), then tourism as well as transportation and storage sectors with 15.3% and 14%, respectively. The service activities sector also recorded a rise of 12.1%.
|
Change in Economic Activities in Madinah |
||
|
Period |
Number of Activities |
Change |
|
Q1 2023 |
96295 |
-- |
|
Q2 2023 |
96778 |
+0.5% |
|
Q3 2023 |
102358 |
+5.8% |
|
Q4 2023 |
102676 |
+0.3% |
|
Q1 2024 |
103365 |
+0.7% |
The wholesale and retail trade sector led with nearly 37,120 sub-activities, representing 36% of the total activities, followed by the contracting sector with around 26,530 sub-activities, or 26% of the total.
|
Economic Activities of Top 10 Sectors in Madinah in Q1 2024 |
|||
|
Sector |
Q1 2023 |
Q4 2023 |
Q1 2024 |
|
Wholesale and Retail Trade |
35134 |
37301 |
37117 |
|
Contracting |
21763 |
26045 |
26534 |
|
Restaurants and Catering |
8568 |
9232 |
9447 |
|
Service Activities |
5753 |
6390 |
6450 |
|
Manufacturing |
5633 |
5962 |
6001 |
|
Vehicle Maintenance |
3890 |
4339 |
4291 |
|
Real Estate |
2651 |
2741 |
2758 |
|
Tourism |
2322 |
2653 |
2677 |
|
Transportation and Storage |
1975 |
2194 |
2252 |
|
Professional Activities |
1578 |
1614 |
1616 |
|
Other |
13091 |
4205 |
4222 |
|
Total |
102358 |
102676 |
103365 |
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