Commercial Registrations Surge in Madinah Region

During the second quarter of this year, 16 economic sectors in Madinah experienced a rise in commercial registrations, resulting in an 8.6% increase in 20 sectors.According to a report from AlMadinah AlMunawarah Chamber, the transport and storage sector registered a 19.1% year-over-year growth. The construction sector also gained significant momentum, with new registrations rising by 18.8%, to reach 11,865.The region saw an overall increase in economic activities, according to the National Classification for the Economic Activities report. The mining industry experienced a 12.7% growth, and the restaurant and catering sector a 7.5% growth.Other significant increases were observed in vehicle maintenance (6.9%), communications and information (6.6%), manufacturing (6.4%), and tourism (5.5%). Car rental and agricultural activities also expanded by 5.5% and 5.1%, respectively.Wholesale and retail trade, and arts and entertainment activities grew by 3.9% and 3.2%, respectively, whereas educational activiti es saw a modest increase of 1%, and real estate grew by 0.4%.The financial, health, professional, and social services sectors experienced declines.The total commercial registrations for 105,132 sub-activities reached 61,833 in the region. The majority of economic activities, 92%, are concentrated in Madinah, with the remaining percentages spread in Al Ula, Al Henakiyah, Al Mahd, and Khaybar.Source: Saudi Press Agency