Saudi gazette report
RIYADH — Operating revenues in Saudi Arabia’s business sector recorded an annual increase of 3.9 percent, reaching SR5.5 trillion during the year 2024, according to the General Authority for Statistics (GASTAT). The 2024 Structural Business Statistics report released by GASTAT showed that total operating expenses amounted to SR2.367 trillion, up by 9.3 percent during the last year.

The report includes a set of key indicators highlighting the structural features of the business sector in the Kingdom. According to the report, compensation of employees totaled SR588.8 billion, marking an annual growth of 8.1percent.

A comparison with 2023 data showed that operating revenues rose across several economic activities, most notably in manufacturing by 7.3 percent, construction by 9.6 percent, and wholesale and retail trade by 8.5 percent.

In terms of operating expenses, manufacturing accounted for the largest share at 41.6 percent, followed by wholesale and retail trade at 22.1 percent, construction at 7.7 percent and mining at 5.3 percent. Other activities collectively constituted 11.9 percent of total expenses.

Salaries and wages in the sector amounted to SR 498.5 billion, representing 84.7 percent of total employee compensation, while benefits and allowances reached SR 90.3 billion, or 15.3 percent. Purchases of fixed assets totaled SR 1,653 billion, compared to sales of SR 665.2 billion. The manufacturing sector led in fixed capital formation, contributing 21.7 percent, followed by wholesale and retail trade at 20.7 percent, mining at 18.9 percent and construction at 11.4 percent.

GASTAT noted that the Structural Business Statistics report is issued annually and is considered one of the Kingdom’s key economic reports. It provides detailed indicators that reflect the structure of economic activities and measures operating revenues, expenses, and employee compensation, in addition to a range of other indicators classified according to the national economic activity classification system.