Monsha’at says SMEs in Saudi Arabia increased to 663,190 by Q3 2021

16/03/2022 Argaam
Logo of The Small Medium Enterprises General Authority

Logo of The Small & Medium Enterprises General Authority

The Small & Medium Enterprises General Authority (Monsha’at) announced that the number of small and medium-sized enterprises (SMEs) in Saudi Arabia reached 663,190 by the end of Q3 2021, an increase of 48% from 2016. 

 

Credit facilities extended to micro, small and medium enterprises (MSMEs) rose by 14% to SAR 200.4 billion in Q3 2021, from SAR 175.7 billion in Q3 2020, according to data available with Argaam.  

 

Saleh Al-Rasheed, Governor of Monsha’at, announced in March 2021 that SMEs contribution to the Kingdom’s gross domestic product (GDP) grew to 28.7%. 

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