RIYADH — According to the findings of Saudi Arabia’s Comprehensive Economic Survey for 2023, the business sector’s overall operating revenues were SR5,292 billion, while its total operating expenses came to SR2,165 billion.
The results of the survey bulletin, which contained a collection of key indicators that represent the most notable structural characteristics of the business sector, were released by the General Authority for Statistics (GASTAT) on Sunday. The survey found that gross fixed capital creation reached SR867.8 billion and employee compensation in the industry totaled SR544.7 billion.
According to the report, manufacturing accounted for 30% of overall operating revenues, with mining and quarrying coming in second at 21.8 percent and wholesale and retail trade at 16 percent. Together, these sectors contributed for 67.8 percent of total operating revenues, making them the top contributors. The remaining economic sectors displayed lesser percentages. A total of 8.1 percent came from the construction industry, 4.7 percent from the banking and insurance sector, 4.3 percent from the information and communications sector, and 3.2 percent from the transportation and storage sector. The remaining 12 percent came from other economic activities.
Additionally, according to the bulletin, 41.5 percent of overall operating expenses came from the manufacturing sector, followed by wholesale and retail trade (22.3 percent) and construction (7.6 percent). While other sectors had lower percentages of expenses, these sectors collectively accounted for the largest portion of total operating expenses (71.4 percent). The remaining economic activities together accounted for 11.9 percent of total operating expenses, with the information and communications sector accounting for 5.1 percent, mining and quarrying for 4.7 percent, finance and insurance for 3.5 percent, and transportation and storage for 3.4 percent.
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