With total operating revenues of 162 billion SAR
 

GASTAT Releases the Results of the Finance and Insurance Survey 2017
 

The General Authority for Statistics (GASTAT) released the results of " Finance and Insurance Survey (2017) " , which conducted annually by the Authority, on its official website www.stats.gov.sa . This survey is an important source for presenting and analyzing the economic data of finance and insurance establishments, such as employees, compensations paid to them, other expenses, revenues and capital formations.
The survey results showed that the number of establishments engaged in the finance and insurance activity increased by 1.14% in 2017, compared to the previous year 2016.  However, the total number of establishments engaged in the finance and insurance activities amounted to 6,664 establishments distributed among 14 sub-activities. The sub-activities include banking and holding companies, financial leasing, other loan- granting forms, insurance, financial market management, securities contracts, insurance agents and brokers, money management as well as other activities.
Furthermore, finance and insurance survey results revealed that the total number of employees in this sector reached 113,728 employees, where 82,308 of them are Saudi employees and 31,420 are Non-Saudi employees. Therefore, the number of Saudi employees in finance and insurance establishments increased by 3.32% during 2017 compared to the previous year 2016.
According to the finance and insurance survey results, the total amount paid to finance and insurance establishment's employees for wages, benefits and allowances made up 22 billion and 920 million SAR during 2017.

Additionally, the results of the survey indicated that the operating revenues of the establishments engaged in the finance and insurance activity increased during 2017 by 10.3%, compared to the last year 2016.  It should be noted that the total number of revenues reached about 162 billion SAR, while the total number of operating expenses of these establishments was approximately 47 billion and 312 million SAR in the year of 2017.
The finance and insurance survey was conducted based on an evident methodology according to the international standards. The methodology is to study the establishments that carry out their main operations in finance and insurance field in private and public sectors.
It is worth mentioning that the finance and insurance survey is important in providing detailed data on finance and insurance activity at the level of Saudi Arabia. These data contribute to measuring the participation of this activity in the economic development process, in addition to providing the basic data necessary for preparing and composing national accounts.