RIYADH: Saudi Arabia’s Operating Revenue Index rose 5 percent year on year in November, supported by growth in manufacturing, trade and construction, official data showed.
In its latest report, the General Authority for Statistics noted that the rise was “supported by an increase in manufacturing activities by 6.5 percent,” while wholesale and retail trade, including the repair of motor vehicles, increased by 9.5 percent.
Construction activity expanded 7.4 percent, while financial activities grew 14.4 percent and insurance activities rose 8.6 percent.
The data underline the Kingdom’s broader economic diversification drive under Vision 2030, with non-oil activities such as manufacturing, construction, finance and trade continuing to expand and contribute a larger share to overall economic activity.
On a monthly basis, the index fell 1.2 percent from October, according to the preliminary figures released by GASTAT, pointing to uneven momentum across sectors at the end of the year.
