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GASTAT: Number of Saudi Workers Working at Private Establishments Rose to 5.7%

GASTAT: Number of Saudi Workers Working at Private Establishments Rose to 5.7% On Wednesday 29/2/1440 H corresponding to 7/11/2018 , GASTAT released the results of the “Economic Indicators Survey (Q2, 2018)” on its official website www.stats.gov.sa . The results provide short-term indicators about the number of workers by gender and nationality as well as the paid compensations, operating expenses and operating revenues as a periodical study that focuses on the features and the components of the working institutions practicing one economic activity or several economic activities in public and private sectors. The results of the survey showed that the total number of workers working at private establishments increased by 3.6% compared to the same quarter of 2017. It also showed an increase of 5.7% in the total number of Saudi workers working at private establishments compared to the same quarter of 2017. In addition, the total paid compensations of workers working at private establishments rose to 8.9% compared to the same quarter of 2017, results showed. According to the survey’s results, the total operating expenses of private establishments increased by 10.2% compared to the same quarter of 2017. The total operating revenues of private establishments also increased by 9.9% compared to the same quarter of 2017.  Economic indicators are a set of economic statistics and data which can be used as a short-term plan to measure the performance of the various economic sectors in order to evaluate the economic situation and to identify the strengths and weaknesses of economy.
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GASTAT: Per Capita GDP, Current Account of the Balance of Payments and Total Savings of the 2nd Quarter of 2018 Increased

Three Economic Indicators Suggest an Economic Growth GASTAT: Per Capita GDP, Current Account of the Balance of Payments and Total Savings of the 2nd Quarter of 2018 Increased      On its official website www.statts.gov.sa , GASTAT published three economic indicators which are: GDP per capita  for the 2nd quarter (2018),  the surplus or deficit in the current account of the balance of payments for the 2nd quarter (2018), and the total savings index for the second quarter of 2018. Furthermore, per capita share at current prices reached (21.997) riyals with an increase of (14.91%) compared to the 2nd quarter of 2017. On the other hand, GDP per capita reached (22.272) riyals for the 2nd quarter of 2018 with an increase of (14.20%) compared to the same quarter of the previous year. The above-mentioned indicator reflects the individual’s ability to obtain consuming goods and services, shows the average income per capita in Saudi Arabia on a quarterly basis, also it can be used to measure the economic development around the world and to compare between countries as well, GASTAT clarified.    In regard to surplus and deficit in current account for the 2nd quarter of 2018, the current account indicator of the balance of payment achieved a surplus amounted to (9.82%) to GDP during the 2nd quarter of 2018; and the deficit was (3.24%) in the current account of the balance of payments in the 2nd quarter (2018).   GASTAT also published the total savings indicator for the second quarter of 2018 where it reached 242 billion and 497 million riyals with an increase of (29.13%) compared to the same period last year 187 billion and 793 million riyals. The total savings rate to GDP edged up to (33.09%) in the 2nd quarter of 2018 compared to (30.18%) in the same period of the previous year.
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The coordination committee is holding its third meeting with 17 governmental entities

To develop the statistical departments The coordination committee is holding its third meeting with 17 governmental entities The third meeting of the coordination committee was held on Wednesday 21/2/1440H corresponding 31/10/2018 at the General Authority for Statistics (GASTAT) head office to facilitate the exchange of data and information with various government agencies.  The official spokesman of the General Authority for Statistics (GASTAT), Taiseer Almofarrej, explained that the coordination teams discussed several topics, including the program of developing the statistical departments which aims at establishing organizational rules and fundamentals to found statistical departments in the governmental entities. Furthermore, it aims to build an official statistical system and to make the statistics, information, and indicators basic parts of the governmental work to enhance the quality of statistical work in Saudi Arabia. The mechanism of classifying government statistical units was also discussed in the meeting. Moreover, the committee reviewed the statistical works carried out during the last period.  On the other hand, Almofarrej said that the coordination committee of the General Authority for Statistics includes a number of representatives including the Saudi Arabian Monetary Agency , General Authority for Investment, Ministry of Health,  Ministry of Environment, Water and Agriculture, Saudi Customs, Ministry of Housing, Ministry of Trade and Investment, Ministry of Education, Ministry of Justice, Ministry of Municipal and Rural Affairs, Ministry of Finance, Ministry of Energy, Industry and Mineral Resources, Ministry of Communications and Information Technology, Ministry of Labor and Social Development, National Information Center, Ministry of Economy and Planning, and Saudi Post.  It is worth mentioning that the coordination committee was formed permanently to coordinate the statistical work between the General Authority for Statistics and related entities, in accordance with the Ministers Cabinet resolution number (11) dated 13/1/1437 H of the authority organization, which aimed at activating and organizing the statistical work through the establishment of a comprehensive, accurate and unified statistical system, in addition to the follow-up of its implementation. It also develops the plans and programs necessary for fulfilling statistical needs; in order to serve the developmental plans, scientific research, and other activities.

GASTAT: Real-Estate Prices Index Decreased During Q3, 2018

The index includes housing, commercial and agricultural sectors GASTAT: Real-Estate Prices Index Decreased During Q3, 2018 The General Authority for Statistics (GASTAT) released the report of Real Estate Price index for the third quarter, 2018 on the official website of the Authority www.stats.gov.sa       The real-estate price index has recorded a decline by (1.6%), compared to the previous quarter Q2 2018, where the indicator of the real estate price index reached (82.3) in the third quarter of 2018, compared to (83.6) in the second quarter of 2018. This decline can be attributed to the decrease in the main sectors composing the indicator: the housing sector (2.1%), the commercial sector (0.5%), and the agricultural sector (0.1%) compared to the second quarter of the current year. At the level of the housing sector, the third quarter of 2018 witnessed a decline in residential lands by (2.1%), compared to the previous quarter, where the villas, apartments and houses decreased by (1.4%), (2.0%), and (0.3%) respectively. On the other hand, residential buildings increased by (0.2%). Regarding the commercial sector, commercial plots decreased by (0.5%), compared to the previous quarter.  However, the agricultural sector witnessed a decrease by (0.1%) in agricultural lands. Additionally, the index is based on the data records about real-estate’s transactions available at the Ministry of Justice, and it is an important tool to support economic and statistical decision makers regarding the changes of property prices and future forecasts during different periods of time.  The index has three main sectors consisting of several types of real estate: housing sector which includes the following (plot of land, building, villa, apartment and house), commercial sector includes (plot of land, building, exhibition/ shop or commercial center), and the agricultural sector with only one category which is the agricultural land. It is worth mentioning that the real estate price index aims at finding accurate real estate statistical indicators that measure real estate market in Saudi Arabia according to universally recognized scientific norms and standards, and filling the gap of data in real estate sector. It is considered an essential tool to support entities which make economic decisions in this field, and to contribute to a development process in the real estate sector in order to achieve the vision of 2030.
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GASTAT: Number of Saudi Workers Working at Private Establishments Rose to 5.7%

GASTAT: Number of Saudi Workers Working at Private Establishments Rose to 5.7% On Wednesday 29/2/1440 H corresponding to 7/11/2018 , GASTAT released the results of the “Economic Indicators Survey (Q2, 2018)” on its official website www.stats.gov.sa . The results provide short-term indicators about the number of workers by gender and nationality as well as the paid compensations, operating expenses and operating revenues as a periodical study that focuses on the features and the components of the working institutions practicing one economic activity or several economic activities in public and private sectors. The results of the survey showed that the total number of workers working at private establishments increased by 3.6% compared to the same quarter of 2017. It also showed an increase of 5.7% in the total number of Saudi workers working at private establishments compared to the same quarter of 2017. In addition, the total paid compensations of workers working at private establishments rose to 8.9% compared to the same quarter of 2017, results showed. According to the survey’s results, the total operating expenses of private establishments increased by 10.2% compared to the same quarter of 2017. The total operating revenues of private establishments also increased by 9.9% compared to the same quarter of 2017.  Economic indicators are a set of economic statistics and data which can be used as a short-term plan to measure the performance of the various economic sectors in order to evaluate the economic situation and to identify the strengths and weaknesses of economy.
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GASTAT: Per Capita GDP, Current Account of the Balance of Payments and Total Savings of the 2nd Quarter of 2018 Increased

Three Economic Indicators Suggest an Economic Growth GASTAT: Per Capita GDP, Current Account of the Balance of Payments and Total Savings of the 2nd Quarter of 2018 Increased      On its official website www.statts.gov.sa , GASTAT published three economic indicators which are: GDP per capita  for the 2nd quarter (2018),  the surplus or deficit in the current account of the balance of payments for the 2nd quarter (2018), and the total savings index for the second quarter of 2018. Furthermore, per capita share at current prices reached (21.997) riyals with an increase of (14.91%) compared to the 2nd quarter of 2017. On the other hand, GDP per capita reached (22.272) riyals for the 2nd quarter of 2018 with an increase of (14.20%) compared to the same quarter of the previous year. The above-mentioned indicator reflects the individual’s ability to obtain consuming goods and services, shows the average income per capita in Saudi Arabia on a quarterly basis, also it can be used to measure the economic development around the world and to compare between countries as well, GASTAT clarified.    In regard to surplus and deficit in current account for the 2nd quarter of 2018, the current account indicator of the balance of payment achieved a surplus amounted to (9.82%) to GDP during the 2nd quarter of 2018; and the deficit was (3.24%) in the current account of the balance of payments in the 2nd quarter (2018).   GASTAT also published the total savings indicator for the second quarter of 2018 where it reached 242 billion and 497 million riyals with an increase of (29.13%) compared to the same period last year 187 billion and 793 million riyals. The total savings rate to GDP edged up to (33.09%) in the 2nd quarter of 2018 compared to (30.18%) in the same period of the previous year.
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The coordination committee is holding its third meeting with 17 governmental entities

To develop the statistical departments The coordination committee is holding its third meeting with 17 governmental entities The third meeting of the coordination committee was held on Wednesday 21/2/1440H corresponding 31/10/2018 at the General Authority for Statistics (GASTAT) head office to facilitate the exchange of data and information with various government agencies.  The official spokesman of the General Authority for Statistics (GASTAT), Taiseer Almofarrej, explained that the coordination teams discussed several topics, including the program of developing the statistical departments which aims at establishing organizational rules and fundamentals to found statistical departments in the governmental entities. Furthermore, it aims to build an official statistical system and to make the statistics, information, and indicators basic parts of the governmental work to enhance the quality of statistical work in Saudi Arabia. The mechanism of classifying government statistical units was also discussed in the meeting. Moreover, the committee reviewed the statistical works carried out during the last period.  On the other hand, Almofarrej said that the coordination committee of the General Authority for Statistics includes a number of representatives including the Saudi Arabian Monetary Agency , General Authority for Investment, Ministry of Health,  Ministry of Environment, Water and Agriculture, Saudi Customs, Ministry of Housing, Ministry of Trade and Investment, Ministry of Education, Ministry of Justice, Ministry of Municipal and Rural Affairs, Ministry of Finance, Ministry of Energy, Industry and Mineral Resources, Ministry of Communications and Information Technology, Ministry of Labor and Social Development, National Information Center, Ministry of Economy and Planning, and Saudi Post.  It is worth mentioning that the coordination committee was formed permanently to coordinate the statistical work between the General Authority for Statistics and related entities, in accordance with the Ministers Cabinet resolution number (11) dated 13/1/1437 H of the authority organization, which aimed at activating and organizing the statistical work through the establishment of a comprehensive, accurate and unified statistical system, in addition to the follow-up of its implementation. It also develops the plans and programs necessary for fulfilling statistical needs; in order to serve the developmental plans, scientific research, and other activities.

GASTAT: Real-Estate Prices Index Decreased During Q3, 2018

The index includes housing, commercial and agricultural sectors GASTAT: Real-Estate Prices Index Decreased During Q3, 2018 The General Authority for Statistics (GASTAT) released the report of Real Estate Price index for the third quarter, 2018 on the official website of the Authority www.stats.gov.sa       The real-estate price index has recorded a decline by (1.6%), compared to the previous quarter Q2 2018, where the indicator of the real estate price index reached (82.3) in the third quarter of 2018, compared to (83.6) in the second quarter of 2018. This decline can be attributed to the decrease in the main sectors composing the indicator: the housing sector (2.1%), the commercial sector (0.5%), and the agricultural sector (0.1%) compared to the second quarter of the current year. At the level of the housing sector, the third quarter of 2018 witnessed a decline in residential lands by (2.1%), compared to the previous quarter, where the villas, apartments and houses decreased by (1.4%), (2.0%), and (0.3%) respectively. On the other hand, residential buildings increased by (0.2%). Regarding the commercial sector, commercial plots decreased by (0.5%), compared to the previous quarter.  However, the agricultural sector witnessed a decrease by (0.1%) in agricultural lands. Additionally, the index is based on the data records about real-estate’s transactions available at the Ministry of Justice, and it is an important tool to support economic and statistical decision makers regarding the changes of property prices and future forecasts during different periods of time.  The index has three main sectors consisting of several types of real estate: housing sector which includes the following (plot of land, building, villa, apartment and house), commercial sector includes (plot of land, building, exhibition/ shop or commercial center), and the agricultural sector with only one category which is the agricultural land. It is worth mentioning that the real estate price index aims at finding accurate real estate statistical indicators that measure real estate market in Saudi Arabia according to universally recognized scientific norms and standards, and filling the gap of data in real estate sector. It is considered an essential tool to support entities which make economic decisions in this field, and to contribute to a development process in the real estate sector in order to achieve the vision of 2030.