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Statistics: 3.8% rise in the growth of the Saudi economy in the first quarter of 2023

Reading time: < 1 MinuteThe General Authority for Statistics (GASTAT) released today the GDP report and national accounts indicators for the first quarter of 2023. According to the estimates, the real GDP during the first quarter of 2023 achieved an increase of (3.8%) compared to the same period of the previous year 2022, boosting the growth of the Saudi economy.

08/06/2023

International Monetary Fund Riyadh office market
Riyadh city

Saudi Arabia's second quarter budget 301 billion riyals in revenues and expenditures of 336 billion riyals

The Kingdom recorded a deficit of 34 billion riyals and a public debt of 1.38 trillion riyals with GDP growth of 3.9%

Residential program

More than SAR 265 billion in domestic liquidity growth by the end of May

Domestic liquidity reached a record high of 3.09 trillion riyals with a growth of 9.4% year-on-year and 1.3% monthly.

Tatma Real Estate Company offers 12 real estate opportunities in the «Capital Fingerprint» auction»

The hybrid auction will be held in person at Al Farida Hall in Riyadh and online via the Saudi Auctioneers platform, July 31, 2025 at 4 pm

Sulaiman Mohammed Al-Hassan - Foreign Ownership - Foreign Investments

A new phase of attracting foreign investment

Saudi Arabia allows foreigners to own real estate from January 2026 with e-conditions, special controls and 5% tax

Abdullah Alharbi

«Abdullah Al-Harbi» participates in the Fourth International Conference on Financing for Development in Spain

FIABCI Saudi Arabia's participation at the Seville conference saw 130 initiatives launched to close the SDG financing gap

General Authority for Statistics - Residential Rental Prices

Net FDI inflows rise to SAR 22.2 billion in Q1 2025

Inflows 24.0 billion riyals (+24%) and outflows 1.8 billion riyals (-54%).

Hani Khashoggi - Foreign Ownership - 95th National Day

Saudi Arabia's Real Estate Management

Five government measures have lowered real estate prices in Riyadh and secured planned and affordable residential lands.

Residential program

with a growth of 52%... Trade balance surplus exceeds 63 billion riyals in the first quarter of 2025

Total international trade exceeded 508 billion riyals, commodity exports 285 billion and imports 222 billion.

Saudi bank credit grows by more than 443 billion riyals by the end of April

SAMA: Bank credit rose 16.5% y/y to SR3,126,381 million with a quarterly growth of 5%.

Residential program

“Statistics Authority”: Inflation rate stabilized at 2.2% in May

Official data: Annual inflation stabilized at 2.2%, one of the lowest rates in the G20.

Residential program

Saudi Central Bank announces the start of registration for the SAMA Promising Professionals Program for recent graduates

SAMA opens enrollment for graduates for three weeks with training tracks, internship and employment opportunities.

Ministry of Commerce - Saudi Companies

“Trade”: All services will continue to be provided to all customers during the Eid al-Adha vacation

Online services are available around the clock during the period May 30 - June 14, 2025, with a call center and digital support.

Financial facilities for SMEs to exceed SAR 351 billion by the end of 2024

Banks provide 95% of financing, up 28% from 2023, with medium-sized enterprises accounting for the largest share.

Dr.. Dr. Moans Shujaa writes about: Teamwork and Startups

Teamwork and Startups

Project success depends on experienced leadership and team collaboration, clear job descriptions, incentives, training and periodic evaluation.

200 investment opportunities in Sarlivo

Saudi business sector unveils 200 investment opportunities at Sarajevo Forum

A Saudi delegation comprising six government agencies and private companies will participate in the forum with more than 2,000 participants from 35 countries

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