Highlights
- The total value of awarded contracts reached SAR45.2 billion ($12 billion) during the first quarter of 2020, marking an 8 percent decline y-o-y. However, the value grew by 28 percent q-o-q.
- The USSBC’s Contract Awards Index climbed to 216.6 points by the end of the first quarter. The index briefly dipped below the 200 point mark in January for the first time since May 2019.
- The military sector led all other sectors with SAR15 billion ($4 billion) worth of awarded contracts.
- The oil & gas sector registered the second highest with SAR11.2 billion ($3 billion) worth of contract awards.
- The petrochemicals sector came in third with SAR8.3 billion ($2.2 billion) worth of contract awards.
