Within the joint committee meetings events on the occasion of completing 55 years in the capital city Seoul  Saudi Arabia and South Korea Signed a Memorandum of Understanding in the Field of Statistics    Saudi Arabia and South Korea signed on Friday 7th of Safar 1439 H (27th of October 2017) in Seoul the capital city of South Korea a memorandum of understanding (MOU) to cooperate in the field of statistics. It aims to establish a cooperation between the two countries in the field of statistics by exchanging administrative and technical experiences that are related to the work of official statistical entities. Moreover, the signing ceremony was held within the “Saudi-Korean” joint committee meetings events on the 26 and 27 of this October. These events were held in the capital city of Korea on the occasion of completing 55 years of relationship between The Kingdom and Korea. The memorandum was signed by his excellency the president of GaStat Dr.Fahad Bin Sulaiman AL-Tukhaifi from the Saudi side and by the official commissioner of the Korean statistics Mrs. Hwang Soo Kyeong from the Korean side. A number of the two countries officials have attended the ceremony. In addition, his excellency the president of GaStat Dr.Fahad Bin Sulaiman AL-Tukhaifi expressed in his speech for this occasion his thanks to the Korean side for the warm reception and gracious hospitality that the Saudi delegation had. He also assured on the deep cooperative relationship between the two countries since 55 years ago until now in a noticeable improvement. He said" we are here today and more than half century of relationship between our countries have passed where the relations have improved remarkably in different fields, in which the economic interests have gathered the experts of the two countries on the tables of the commercial cooperation. Additionally, the special political relationships between the two countries have attributed in the advancement towards cooperation fields that are more distinguished. Since the kingdom of Saudi Arabia and the Republic of Korea have agreed on establishing diplomatic relations at the ambassadorial level on 16th of October 1962 until this day, the two countries are keeping a strong cooperative relationship as partners and they represent a special model for the West-East convergence”. Dr.AL-Tukhifi added that signing the statistical memorandum between the two countries came along with the new Saudi Vision 2030 where it opens wider horizons for cooperation. The statistical partnership is a qualitative partnership to transfer successful experiences and effective cooperation in the fields of statistical data and information which is considered the strongest cornerstone towards future. It is noteworthy to mention that the statistical memorandum between Saudi Arabia and south Korea includes points for cooperative work in developing technical mechanisms necessary for collecting and publishing statistics according to international standards, determining the fundamentals of statistical databases in different statistical fields, exchanging experiences concerning the necessary requirements for establishing an information central system that is linked automatically with all public entities [and their activation mechanisms], developing statistical work in governmental entities in addition to developing government statistical plans, policies, and mechanisms, exchanging statistical awareness programs and organizing joint seminars and workshops which discuss cooperation issues.

GaStat: Real Estate Index Decreased by (6.3%) compared to the previous year and stabilized compared to Second Quarter On Tuesday Safar 4th, 1439 (October 24th,2017), GaStat issued its quarterly indicator of the real estate price general index in the Kingdom of Saudi Arabia for the third quarter (2017) and published it through its official website www.stats.gov.sa . This indicator is based on available registry data of the Ministry of Justice regarding real estate transactions. This indicator is an essential tool that supports entities which make economic and statistical decisions regarding the real estate price movements and future forecasts during different periods of time. The indicator includes three main sectors consisting of many real estate types: residential sector (piece of land, building, villa, apartment, and house), commercial sector (piece of land, building, shop, gallery and commercial centre), and agricultural sector which only includes agricultural land. The index of real estate prices for the third quarter 2017 recorded a relative stability compared to the previous quarter (second quarter 2017), reaching (84.9) in the third quarter 2017. The report attributed the stability of the real estate price index for the third quarter of 2017 to the varying percentage of change in the main sectors composing the indicator. The commercial sector witnessed a decline by (1.0%), the residential sector witnesses an increase by (0.2%), while the agricultural sector was stable without any relative change. The indicator recorded a decline of (6.3%) compared to the same quarter of the previous year (third quarter 2017). The report attributed this decline to the decline in the main sectors composing the indicator: the residential sector (7.9%), the commercial sector (10.9%) and the agricultural sector (1.0%).

Labor Market Bulletin Includes 67 Statistical indicators GaStat: The Saudi unemployment rate is 12.8% in the 2nd Quarter (2017)  The General authority for Statistics (GaStat) published the Labor Market Bulletin for the second quarter of 2017 on Sunday Muharram 11th,1439H (Corresponding to October 1st,2017) which provides comprehensive data and indicators on the labor market in the Kingdom from April 1st to June 30th, 2017 (Corresponding to Rajab 15th to Shawwal 6th, 1438H) to support decision and policy makers regarding labor force. It also contributes in building a database on the labor market in the Kingdom that can be used to prepare and plan future social and economic development programs. The quarterly bulletin includes 67 statistical indicators which contain data and indicators from the Labor Force Survey estimates and labor market data from the administrative records of the relevant entities (Ministry of Labor and Social Development, Ministry of Civil Service, General Organization for Social Insurance(GOSI), Human Resources Development Fund and National Information Center) applying international standards in this area. The results of the bulletin for the second quarter of 2017 indicated that the total number of employees from the data of administrative records in the Kingdom of Saudi Arabia reached (13,841,158) individuals compared to (13,889,137) for the first quarter of 2017.   According to the results of the bulletin also from the data of administrative records in the government agencies for the second quarter of 2017, the total number of Saudis seeking work reached (1,075,933) individuals, (216,352) of them are males and (859,581) are females. The results also showed that the highest percentage of Saudis seeking employment was among the age group (25-29), which is (34.2%). Also according to the results of the administrative records data, nearly half of the Saudi job seekers hold university degrees reaching (50.5%). The results of the bulletin showed that the unemployment rate in Saudi Arabia for the Saudi population (15 years and over) from the Labor Force Survey estimates for the second quarter 2017 reached (12.8%), (7.4%) are males and (33.1%) are females. And the unemployment rate in the Kingdom for the total population (15 years and over) is (6.0%), (3.3%) are males and (22.9%) are females. The results also showed that (11.6%) of the unemployed Saudis had previously worked, and (32.9%) of unemployed Saudis who had previously worked left their jobs due to dismissal from the employer. The survey results also showed that (9.6%) of unemployed Saudis have already been trained. Regarding the economic activity rate of total population (15 years and over) it reached (54.2%), divided between males (78.2%) and females (18.7%). In its bulletin, GaStat also explained that the economic activity rate for total Saudi population (15 years and over) reached (40.3%). The bulletin included a large number of detailed data on workers according to the regulations they are subject to, nationality, sex, age, administrative region and educational level, as well as data for job seekers, average monthly wages, working hours and domestic workers. For more details, you can view the bulletin through Gastat’s official website: www.stats.gov.sa

UN International Comparison Program board of directors holds second meeting Dr. Altekhaifi: KSA's distinctive work at statistics leads to council membership and participation in recurring meetings Saudi Arabia has participated at the second meeting of the board of directors of the International Comparison Program (ICP), which was held at Washington D.C. early this week.  His Excellency, president of the General Authority for Statistics, Dr. Fahad bin Sulaiman Altekhaifi, confirmed that the program’s work and results will help shape policies for global comparison to support statistical products of the participating countries. It will also enable the General Authority for Statistics to access the best global practices for statistics for the purpose of improving and developing the statistical work. Also, it will raise the quality of the data, which will reflect positively on the decisions for development that rely mainly on statistics. On the other hand, his excellency Dr. Altekhaifi pointed out that the board of directors, which has 11 countries including Saudi Arabia, which represents west Asia, has looked into the progress made when implementing the 2017 cycle in the participating areas. The council also specified a list of research topics including, implementing a rolling survey approach and building Purchasing Power Parity (PPP) time series, integrating ICP and Consumer Price Index (CPI) activities, Streamlining the process of establishing product lists and the use of importance indicators, improving the availability and quality of input data for rents, government services, and construction, streamline the use of productivity adjustments for government services, fine tuning global linking procedures, quality assurance of resulting PPPs and measures of reliability and other topics related to statistical work. Dr. Altekhaifi added that the ICP selecting of Saudi Arabia for the membership at the 2017-2019 cycle came as a result of the positive role of the General Authority for Statistics in different statistical programs organized by the UN. It also confirmed the kingdom’s effective role on the global map of statistics. Moreover, it reflects the results of the strategic transformation of the kingdom’s Statistic sector, which the leadership cares for and supports due to its role in aiding the national development decisions.  The ICP, which is under the supervision of the World Bank, is a partnership program for statistics on a global level. It is based on a statistical system that is connected with economic analysis. It uses statistical methods to derive the necessary data to calculate the PPP for about 200 countries and economies worldwide. It will facilitate the use of PPP as currency converters. That will allow for the comparison of the total economic indicators and the economic situations of countries worldwide. It is noteworthy to mention that the ICP board of directors is compiled of executives, chairpersons, and leading experts in 11 statistical devices participating in the program. They are distributed according to the regional areas: Africa, Asia, Pacific Islands, Latin America, the Caribbean, West Asia, Commonwealth of Independence States, European Union, non-European Union States, members of the organization for Economic Cooperation and Development, representatives of the International Monetary Fund, World Bank, UN Statistics Division, and the Inter-Agency Coordination Group.