Financial Performance of Petrochemicals Industry in Saudi Arabia: Pre and Post Global Economic Recession
Keywords:
Global Economic Recession, Petrochemicals, Financial Performance, Pre and Post GER, Saudi ArabiaAbstract
Industrial development is plays rapid and robust role in the economic development of a nation and contributes to the GDP. The industrial development is the base of development in any economy. In present global era, most of the business players are running their business activities internationally and enjoying the benefits of large scale turnover. So, the business is not limited to a particular specified territory of a nation and governed by the global environment that affects an economy. The global economic recession (GER) affected the business of most economies in the period of 2007 to 2009. Saudi economy is predominantly based on petrochemical exports in the world and petrochemical industry is the volumetric contributor of the Saudi Arabian GDP. This Paper tries to find out the effects of GER on petrochemical industry and variations in financial performance of selected petrochemical companies of Saudi Arabia. The study is purely based upon secondary data available on the websites of Saudi Arabia and considers only financial aspects to measure the impact of GER on the performance of petrochemical industry.
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