RIYADH: Saudi Arabia’s Operating Revenue Index rose 10.2 percent in March from a year earlier, driven by robust growth in transportation, mining and financial services, as the Kingdom’s non-oil economy continued to expand, government data showed.
The transportation and storage sector posted the biggest annual increase, climbing 25.8 percent, according to data released by the General Authority for Statistics.
Mining and quarrying activities rose by 25.5 percent year on year in March, while manufacturing activity witnessed a 4 percent increase during the same period.
Monthly business indicators are closely monitored as key measures of private sector momentum, investment activity, and the country’s progress toward reducing its dependence on hydrocarbons.
The figures also underscore Saudi Arabia’s broader economic diversification efforts as the Kingdom seeks to attract foreign investment and expand non-oil growth.
