The General Authority for statistics (GASTAT) released the GDP Flash Estimates Publication for the second quarter of 2023. According to the publication, real GDP increased by (1.1%) during the second quarter of 2023 compared to the same period of last year 2022.    The publication activities showed that non-oil activities positively grew by (5.5%) in quarter 2, 2023 compared to the same period of last year 2022. However, oil activities decreased by (4.2%) compared to the same period of last year.   The results also demonstrated that the seasonally adjusted real GDP declined by (0.1%) during the second quarter of 2023, compared to the first quarter of the same year.  It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.

Merchandise exports in May 2023 amounted to SAR 97.1 billion, compared to SAR 143.0 billion in May 2022, with a decrease of SAR 45.9 billion or 32.1%, according to GASTAT's report.   The publication indicated that the value of oil exports in May 2023 recorded SAR 72.0 billion compared to SAR 115.5 billion in May 2022, with a decrease of SAR 43.5 billion by 37.7%. On the other hand, the decline of non-oil exports was the main driver of merchandise exports decline. According to the publication's results, the value of non-oil exports (including re-export) in May 2023 amounted to SAR 25.1 billion, compared to SAR 27.5 billion in May 2022, with a decrease of SAR 2.4 billion, by 8.7%.  However, the value of merchandise imports of Saudi Arabia in May 2023 amounted to SAR 67.7 billion, compared to SAR 56.0 billion in May 2022, with an increase of SAR 11.7 billion, by 20.9%.  It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.

The General Authority for Statistics (GASTAT) announced that during the month of May 2023, the Industrial Production Index reached 1.2% compared to the same month of last year, with a slight decrease that resulted from the decline of mining and quarrying activity, which contributed directly to the decrease of the general index.   the Industrial Production Publication revealed the increase of the sub-index of manufacturing activity by 10.3% compared to the same month of last year (May 2022). However, the sub-index of electricity and gas supply activity increased by 12.0%.  The publication also indicated a decrease on the sub-index of mining and quarrying activity during the month of May 2023 by 5.5% compared to the same month of last year (May 2022).  It is noteworthy the Industrial Production Index (IPI) is an economic indicator that reflects relative changes and evolution in the volume of industrial production quantities based on the data of the Industrial Production Survey. It is implemented monthly and targets industrial establishments operating in the targeted activities, which are mining and quarrying, manufacturing, and electricity and gas supply.

Merchandise exports in May 2023 amounted to SAR 97.1 billion, compared to SAR 143.0 billion in May 2022, with a decrease of SAR 45.9 billion or 32.1%, according to GASTAT's report.   The publication indicated that the value of oil exports in May 2023 recorded SAR 72.0 billion compared to SAR 115.5 billion in May 2022, with a decrease of SAR 43.5 billion by 37.7%. On the other hand, the decline of non-oil exports was the main driver of merchandise exports decline. According to the publication's results, the value of non-oil exports (including re-export) in May 2023 amounted to SAR 25.1 billion, compared to SAR 27.5 billion in May 2022, with a decrease of SAR 2.4 billion, by 8.7%.  However, the value of merchandise imports of Saudi Arabia in May 2023 amounted to SAR 67.7 billion, compared to SAR 56.0 billion in May 2022, with an increase of SAR 11.7 billion, by 20.9%.  It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.