Saudi Arabia accounts for 46.4% of Arab foreign reserves

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Saudi Arabia acquired 46.4 percent of the Arab countries’ foreign exchange reserves (excluding gold) at the end of last May, at about $436.7 billion, while the Arabs had about $940.3 billion in reserves at the end of the same period.
According to the monitoring of the economic reports unit in the newspaper “Al-Iqtisadiah”, which was based on the latest data available to the International Monetary Fund and central banks in the 18 countries included in the report, Saudi Arabia’s foreign reserves constituted at the end of May of this year, about 3.3 percent of the global reserves of 13.2 percent. trillion dollars, while Arab reserves constituted about 7.1 percent of global reserves.
Regarding the Arab ranking, the UAE came in second place behind Saudi Arabia with foreign reserves of 107.2 billion dollars, which constitutes 11.4 percent of the Arab reserves, then Libya with reserves of 73.6 billion dollars, equivalent to 7.8 percent of the Arab reserves.
Fourthly, Iraq comes with reserves of $54.5 billion, representing 5.8 percent of the Arab foreign reserves, then Kuwait with reserves of $46.1 billion, representing 4.9 percent of Arab reserves.
In sixth place came Algeria, with reserves of $45.4 billion, representing 4.8 percent of Arab reserves, then Qatar, with reserves of $37.6 billion, representing 4 percent of Arab foreign reserves.
Eighthly, Egypt comes with reserves of $34.5 billion, which constitutes 3.7 percent of Arab reserves, then Morocco with reserves of $33.1 billion, equivalent to 3.5 percent of Arab reserves.
Tenth, Lebanon with reserves of 22 billion dollars, representing 2.3 percent of the foreign reserves of the Arabs, then the Sultanate of Oman with reserves of 18.1 billion dollars, which constitutes 1.9 percent of the Arabs’ reserves.
Jordan came in 12th place with reserves amounting to 15.9 billion dollars, which constitutes 1.7 percent of the Arab foreign reserves, then Tunisia with reserves of 8.5 billion dollars, which constitutes 0.9 percent of the Arab reserves.
In 14th place, Bahrain with reserves of 3.8 billion dollars, which constitutes 0.4 percent of the Arab reserves, then Mauritania with reserves of 1.7 billion dollars, which constitutes 0.2 percent of the Arab reserves.
In the 16th place, Palestine came with reserves of 697 million dollars, which constitute 0.1 percent of the Arab reserves, then Djibouti with reserves of 622 million dollars, which constitutes 0.1 percent of the Arab reserves. Finally, Comoros, with reserves of $334 million, constitutes 0.04 percent of Arab foreign reserves.

The importance of foreign reserves
Foreign reserves are of great importance to countries and are a major measure of the country’s ability to cover imports, and among the benefits of foreign reserves increases confidence in the monetary policy of the country that holds the reserves.
In terms of the policies of the central bank of the country that holds the reserves, it can intervene efficiently in the exchange market and resist any external pressures on its currency, which contributes to the stability of the exchange rate of the national currency and creates a stable and attractive economic climate for foreign investments, especially in the case of countries that adopt a flexible exchange rate. and not fixed.
Economic Reporting Unit





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