Tadawul Shares End Week Lower; Saudi Arabia's April Trade Surplus Declines
The Tadawul Share Index closed out the week 0.67% lower as Iraq's potential exit from OPEC dampened investor sentiment on Thursday.Iraq is reportedly considering leaving the Organization of the Petroleum Exporting Countries, Reuters reported, citing sources with knowledge of the matter. The sources said that the Middle Eastern country might leave the group if it is not allowed to boost its crude production.According to data from the General Authority for Statistics, the kingdom's merchandise trade surplus decreased to 25.43 billion Saudi riyals in April, compared with the prior month's revised 56.93 billion riyals.Meanwhile, merchandise exports climbed 9.3% year over year in the reporting month, while imports declined 5.2% annually. The report also said that China was Saudi Arabia's main merchandise trading partner."Non-oil exports, including re-exports, recorded an increase of 4.5% compared to April 2025, while national non-oil exports, excluding re-exports, decreased by 7.3%. Moreover, the value of re-exported goods increased by 20.4% during the same period, driven by a 74.0% increase in 'machinery, electrical equipment and parts,' which represented 53.5% of total re-exports," the report said.Back at home, First Avenue for Real Estate Development's (SASE:9610) consortium with Dar Al Majed Real Estate Co. (SASE:4326) and Rekaz Real Estate signed a 180-day framework deal to develop an informal settlement area in Makkah.Shares of First Avenue and Dar Al Majed closed 3.50% and 1.09% in the red, respectively.
