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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT

Employees’ compensation increased by 6 percent YoY to reach US$110 billion in 2022. (WAM)
  • Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics.
  • Manufacturing activities recorded nearly US$378 billion revenues, followed by the wholesale and retail trade at US$201 billion.

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).