GASTAT President receives the Minister of Economy and Industry of Estonia
Dr. Fahad bin Abdullah Aldossari, President of the General Authority for Statistics, received Mr. Erki Kilu, Minister of Economy and Industry of the Republic of Estonia, along with Ambassador Maria Belolfas and the accompanying delegation at GASTAT’s headquarters. During the meeting, they reviewed various topics of mutual interest and discussed ways to strengthen cooperation in the field of statistical work between the two sides.
At the beginning of the meeting, Dr. Fahad Aldossari welcomed the Minister of Economy and Industry of the Republic of Estonia and his accompanying delegation. He provided an overview of GASTAT’s key activities and its efforts in digital transformation, showcasing GASTAT’s main products, which include 70 statistical products, and the development of data collection tools and methodologies. The significant role played by GASTAT in updating the base year for the Gross Domestic Product (GDP) according to chain-linked series, in line with internationally accepted practices among global and statistically advanced references, was also reviewed. In addition, updates to the Real Estate Index and geographic maps were discussed.
Aldossari also highlighted various regional and international projects, mentioning that the General Authority for Statistics was selected to host the sixth United Nations World Data Forum, set to take place in 2026.
For his part, the Minister of Economy and Industry of the Republic of Estonia expressed his gratitude to the President of the General Authority for Statistics for the warm welcome and congratulated GASTAT on its outstanding achievements. He highlighted the strong relations between the two friendly countries and praised the visit by GASTAT delegation to Estonia, along with its positive impact on various areas of cooperation between both sides.
Estonian Ambassador Maria Belolfas also delivered remarks, expressing her appreciation for the visit and commending the strong relations between the two countries, particularly in the economic sector.
It is worth noting that this meeting follows a visit by a delegation from the General Authority for Statistics to the Republic of Estonia last August, during which they met with officials from the Estonian Statistics Office and held meetings with several other officials involved in statistical work.
GASTAT: Crude oil production decreases by 9.3% in 2023
The General Authority for Statistics announced today the results of Oil and Gas Statistics Publication 2023 for the Kingdom of Saudi Arabia. According to the publication's results, the total crude oil production in the Kingdom for 2023 decreased by 9.3% compared to 2022, reaching 3.506 million barrels. Meanwhile, the quantity of crude oil exports recorded a decrease of 9.6%, amounting to 2.431 million barrels compared to 2022.
The total production of gasoline in 2023 decreased by 2.6% compared to 2022, with a production quantity of 224 million barrels. Regarding kerosene and jet fuel, there was an increase in production quantity, reaching 57 million barrels, an increase of 2.7% compared to 2022, based on the results.
The total consumption of gasoline in 2023 increased by 1.8% compared to 2022, with a consumption quantity of 186 million barrels. In terms of kerosene and jet fuel, there was also an increase in consumption, reaching 35 million barrels, up by 32.8% compared to 2022, according to the publication.
The publication showed a decrease in total fuel oil exports for 2023 by 10.3% compared to 2022, with export quantities amounting to 67 million barrels, while imports increased, totaling 88 million barrels with a growth rate of approximately 25.9%. As for gas/diesel oil, there was a decrease in export quantities, which amounted to 206 million barrels, marking a decline of 15.7% compared to 2022, while imports rose to 33 million barrels, with an increase of 43.8%.
It is noteworthy that the Oil and Gas Statistics Publication covers energy data at the level of the Kingdom of Saudi Arabia, according to the International Standard International Energy Product Classification (SIEC), with data available in a time series for the period (2010-2023).
Saudi economy grows by 2.8% during Q3 of 2024
The General Authority for Statistics (GASTAT) released today the flash estimates of the real GDP growth rate for Q3 of 2024 on its official website. Accordingly, the real GDP during Q3 of 2024 achieved a growth rate of 2.8% compared to the same period of the previous year.
The flash estimates revealed that oil activities recorded a growth of 0.3% during Q3 of 2024 compared to the same period of the previous year, while non-oil activities achieved a positive growth rate of 4.2% compared to the same period of the previous year. Additionally, government activities recorded a positive growth rate of 3.1% compared to the same period of the previous year.
The report's results indicated that the seasonally adjusted real GDP during Q3 of 2024 increased by 0.8% compared to Q2 of 2024.
GASTAT publishes Real Estate Price Index for Q3 2024 using updated methodology
The General Authority for Statistics (GASTAT) released the Real Estate Price Index for Q3 2024, which reached 2.6% compared to the same quarter of the previous year, following the updated methodology for calculating the Real Estate Price Index in the Kingdom.
GASTAT clarified that the updated methodology for calculating the index will contribute to providing more comprehensive and high-quality data, supporting efforts to develop the real estate sector, and aligning with best statistical practices used in international benchmarks.
In this context, GASTAT attributed the change in the Real Estate Price Index for Q3 2024 to a 1.6% increase in residential property prices. Year-on-year, residential land prices increased by 1.6%, while apartment prices rose by 1.9%, and villa prices grew by 1.5%. In contrast, commercial property prices saw a significant rise of 6.4%, primarily due to a 6.3% increase in commercial land prices. Among various commercial properties, building prices climbed by 8.6%, while exhibition prices fell by 1.1%. On the other hand, the agricultural sector, particularly agricultural land, experienced a decline of 8.7%.
It is worth noting that the Real Estate Price Index Publication is a statistical tool to measure the relative change in real estate prices in Saudi Arabia. It results from electronic registration and documentation processes carried out by the Ministry of Justice, encompassing various variables in real estate transactions, including value, location, area, sector, and property type.