The BOI registered 154.2 points in Q3, 2021 compared to 152.1 points in Q2, 2021, indicating an increase of 1.4% q-o-q. The BOI for Q3, 2021 is the highest since Q4, 2019. This is an improvement of 5.3% in optimism in comparison to the corresponding period last year.
According to the results, Large Companies are considerably more optimistic with a BOI of 162.5 points compared to a BOI of 141.9 points for Small and Medium Enterprises (SMEs). Additionally, companies in Trading Sector are more optimistic than Services and Manufacturing Sectors. This increase in optimism is driven by expected increase in demand coupled with business expansion plans in the upcoming quarter.
Exporters’ Optimism Index stood at 155.0 points in Q3, 2021 compared to 157.5 points in Q2, 2021, down 1.6% q-o-q. USA, UAE and UK were identified as top export destinations for businesses.