Statistics: Saudi Arabia's industrial activities generate 2.9 trillion riyals in revenue
The General Authority for Statistics (GASTAT) announced the release of its economic activity statistics for the business sector, revealing positive figures that reflect the strength of the national economy and its capacity for sustainable growth under the Kingdom's Vision 2030. According to the official bulletin, industrial activities led the economic landscape with total operating revenues of SAR 2.901 billion , achieving a growth rate of 1.3% compared to the previous year. This growth underscores the pivotal role of the industrial sector as an engine of economic development and a key driver of income diversification.
Industrial performance indicators and operating expenditure
Detailed data revealed that revenue growth was accompanied by significant investment activity, with total operating expenses for industrial activities reaching SAR 1.176 billion, an increase of 11.3%. This rise in expenditures reflects the scale of expansions in industrial infrastructure and production costs, all geared towards enhancing local content. In a positive indicator for the labor market, total compensation for employees in the industrial sector reached SAR 212 billion, an increase of 8.5% compared to the previous year, indicating improved income levels and the sector's attractiveness to skilled workers.
Recovery of the trade and logistics sectors
In a related development concerning economic diversification, the report indicated that wholesale and retail trade activities generated total operating revenues of SAR 919 billion, representing strong growth of 8.5% compared to the previous year. Total operating expenses for this sector reached SAR 522.1 billion, an increase of 8.2%, while employee compensation reached SAR 78.1 billion, a rise of 7.7%. This growth reflects a recovery in purchasing power and increased commercial activity in local markets.
The results also showed that transportation and warehousing activities, a key pillar of the National Transport and Logistics Strategy, generated operating revenues of approximately SAR 178 billion, representing a growth of 4.8%. Operating expenses reached SAR 76.5 billion, while compensation for employees in these activities rose to SAR 32.3 billion, an increase of 7.2%, reinforcing the Kingdom's ambition to become a global logistics hub connecting three continents.
Digital transformation and growth of the telecommunications sector
In line with rapid technological advancements, the results showed that information and communications activities recorded total operating revenues of SAR 239.4 billion, representing a 5.6% increase compared to the previous year. Total operating expenses reached SAR 116.3 billion, while employee compensation amounted to SAR 31.7 billion, a 5.9% increase. This sector is a key enabler of the digital economy and smart cities.
The bulletin concluded by stating that other service activities recorded a huge total operating revenue of 750.8 billion riyals, with growth of 4.7%, with operating expenses of 275.5 billion riyals, and compensation to employees amounting to 145.2 billion riyals, an increase of 7.1%, which confirms the comprehensiveness of economic growth across all service and production sectors in the Kingdom.
