The digital economy’s contribution to the Saudi GDP will rise to 16% in 2024
The results of the 2024 Digital Economy Survey issued by the Statistics Authority revealed an increase in the digital economy’s share of Saudi gross domestic productfrom 15.6% in 2023, to reach 16%, an increase of 0.4 percentage points.
According to the levels of The digital economy The contribution of the basic digital economy amounted to 2.7%, which includes activities that produce technical goods and services Information and Communications.
Digital Economy
The contribution of the narrow digital economy amounted to 2.4%, which includes establishments that rely on digital inputs, while the contribution of the broad digital economy amounted to 10.9%, which includes establishments whose products and services are significantly improved using digital inputs.
According to the results, the operating revenues of the information and communications technology sector amounted to 249.8 billion riyals.
Revenues and Expenditures Operational
The highest activities in revenue were wired and wireless communications activities with revenues of 133.9 billion riyals, followed by computer programming activities with revenues of 31.1 billion riyals.
Operating expenses for the information and communications technology sector amounted to 122.2 billion riyals, while wired communications and wireless communications activities recorded the highest value of expenditures of 74.3 billion riyals, followed by computer programming activities with expenditures of 14.1 billion riyals.
Employee compensation
The results indicated that compensation for workers in the information and communications technology sector amounted to 29.2 billion riyals.
Wireless and wireless communications activities ranked first with compensation amounting to 16.1 billion riyals, followed by computer programming activities with compensation amounting to 4.5 billion riyals.
Imports of information and communication technology goods achieved an increase from 54.9 billion riyals. in 2023 to 67.9 billion riyals in 2024, registering a growth of 23.5%.
Communications equipment came as the highest category in terms of import value with a value of 36.8 billion riyals, followed by computer equipment and accessories with a value of 14.9 billion riyals.
Exports of ICT goods and re-exported goods achieved growth from 11.8 billion riyals in 2023 to 25.8 billion riyals in 2024, with a growth rate of 118%.
Communications equipment came at the forefront of the value of exports and re-exported goods, with a value of 24.9 billion riyals. Followed by computer equipment and accessories with a value of 579.5 million riyals.
E-commerce records
E-commerce records increased from 37,481 to 40,953 records during the year 2024, while the number of records for application development activities increased from 11,605 to 15,775 records.
Cloud computing services records increased from 1,759 to 15,775 records. 3,005 records, while the number of FinTech solutions records increased from 2,795 to 3,152 records.
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