RIYADH: Saudi Arabia’s Operating Revenue Index rose 10.6 percent in April from a year earlier, driven by broad-based growth across key economic activities, official data showed.
According to the latest report released by the General Authority for Statistics, manufacturing activities grew 10.3 percent year on year in April, while mining and quarrying activities surged 22.5 percent. Financial and insurance activities also posted strong growth of 14.2 percent, followed by wholesale and retail trade, including motor vehicle repair, at 6.9 percent, and construction activities at 5.4 percent.
The figures add to a growing body of evidence pointing to the resilience of Saudi Arabia’s non-oil economy as the Kingdom accelerates its Vision 2030 transformation agenda. Rising business activity, stronger investor sentiment, expanding construction pipelines, and sustained growth in service sectors have helped support economic diversification efforts, reducing reliance on hydrocarbons while creating new sources of growth.
In its latest report, GASTAT said: “On a monthly basis, the Operating Revenues Index decreased by 3.8 percent, affected by a 19.1 percent decrease in manufacturing and mining and quarrying activities, a 1.5 percent decline in wholesale and retail trade and repair of motor vehicles activities, a 2.5 percent decline in financial and insurance activities, and decreases of 1.5 percent and 4.9 percent in information and communication activities and transportation and storage activities, respectively.”
