RIYADH, SAUDI ARABIA – The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues to US$1.35 trillion (SAR 5.07 trillion) in 2022.
Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics (GASTAT).
The business sector maintained successive growth rates during 2021 and 2022, as positive performance signals appeared clearly in various business activities.
During 2022, mining and quarrying activities topped by revenue of US$394 billion (SAR 1.48 trillion).
Manufacturing activities came second, recording nearly US$378 billion (SAR 1.42 trillion) revenues, followed by the wholesale and retail trade US$201 billion (SAR 757.18 billion).
Employees’ compensation increased by 6 percent YoY to reach US$110 billion (SAR 413.34 billion) in 2022.
Manufacturing activities, wholesale and retail trade activities, and construction activities took precedence over other business activities in terms of compensation value.
The number of employees by business activity, as per GASTAT, reached 9.07 million in 2022.
Construction activity accounted for the largest number of workers with 27 percent, or 2.46 million. It was followed by the wholesale and retail trade (1.63 million) and administrative support services (1.17 million).
