Madinah Chamber: 103,370 economic licenses issued until Q1 2024

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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%.

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.