The relative strength of Kuwait in the financial industry extends to its stock market. For many years, the total valuation of all companies listed on the Kuwait Stock Exchange far exceeded the value of those on any other GCC bourse, except Saudi Arabia. In 2011, financial and banking companies made up more than half of the market capitalization of the Kuwaiti bourse; among all the GCC states, the market capitalization of Kuwaiti financial-sector firms was, in total, behind only that of Saudi Arabia. In recent years, Kuwaiti investment companies have invested large percentages of their assets abroad, and their foreign assets have become substantially larger than their domestic assets.