The General Authority for Statistics in Saudi Arabia announced a remarkable increase in the operational revenue index by 10.2% during March 2026, compared to the same month in 2025. The index also experienced a monthly rise of 8.1% compared to February 2026, reflecting strong growth in several core economic activities.
According to the Short-Term Business Indicators Statistics report for March 2026, this annual increase in operational revenues was driven by growth in mining and quarrying activities by 25.5%, manufacturing by 4.0%, as well as an increase in wholesale and retail trade and vehicle repair activities by 4.6%, and construction activities, financial services, and insurance activities by 4.8% and 17.6% respectively.
Monthly Revenue Index Performance
On a monthly basis, the operational revenue index recorded an increase of 8.1%, supported by a surge in mining and quarrying activities by 38.6%, and manufacturing by 4.4%. Wholesale and retail trade and vehicle repair activities saw a slight growth of 0.2%, while financial and insurance activities rose by 2.6%, and information and communications activities by 0.6%.
Regarding the index of employee compensation, the authority reported an annual increase of 10.0%, supported by a rise in manufacturing activities by 9.9%, construction by 7.9%, and wholesale and retail trade and vehicle repair by 10.4%. Mining and quarrying activities, along with financial and insurance activities, also saw increases of 0.7% and 14.4% respectively.
Background & Context
These figures come as part of the Saudi government's efforts to enhance economic growth and diversify income sources, as the Kingdom seeks to reduce its dependence on oil by developing new sectors. Data has shown a positive market response to the new economic policies implemented in recent years.
The growth in mining and quarrying activities reflects an increasing interest in natural resources, while the manufacturing sector is vital in creating job opportunities and boosting local production.
Impact & Consequences
This growth in operational revenues is a positive indicator of the health of the Saudi economy, which may enhance investor confidence and attract more foreign investments. Additionally, the rise in employee compensation reflects improved working conditions in the market, potentially leading to increased domestic consumption.
However, the decline in the number of building permits issued by 0.7% year-on-year indicates some challenges that the construction sector may face. Permits dropped from 5201 in March 2025 to 5162 in March 2026, which could impact future growth in this sector.
Regional Significance
The economic growth in Saudi Arabia serves as a model for other Arab countries striving for sustainable development. Successful policies can contribute to growth in non-oil sectors, aiding in achieving economic stability in the region.
In conclusion, the positive figures announced by the General Authority for Statistics reflect the progress Saudi Arabia is making towards achieving Vision 2030, enhancing its position as an economic powerhouse in the region.