Saudi Arabia’s industrial sector is thriving, with investments reaching SR1.5tn ($400bn) by the end of the third quarter of 2023.
Investments in Saudi Arabia’s industrial sector witnessed a quarterly growth rate of 1.5 per cent, according to official figures.
This value compares to around SR1.4tn ($373bn) by the end of Q2 2023, representing an annual growth rate of 9.3 per cent compared to approximately SR1.3tn ($347bn) for the same period in the previous year.
Saudi industrial investments
Investments in large-scale facilities reached a value of SR975.767bn ($260.2bn), accounting for 65.1 per cent of the total.
Investments in medium-scale facilities amounted to SR390.06bn ($104bn), representing 26 per cent of the total, while investments in small-scale facilities amounted to SR132.951bn ($35.4bn), accounting for 8.9 per cent of the total.
National investments topped the list of investors in terms of investment type by the end of Q3 2023, with a total value of SR938.133bn ($250.2bn), accounting for 62.6 per cent of the total investment volume.
This was accomplished by 9,324 existing factories, representing 82.7 per cent of total number of factories.
Joint investments ranked second with a value of SR486.961bn ($130bn), accounting for 32.5 per cent of the total investments, and 941 existing factories, representing 8.3 per cent of the total number of factories.
Foreign investments ranked third with a value of SR73.684bn ($19.6bn), accounting for 4.9 per cent of the total, and 1,008 existing factories, representing 8.9 per cent of the total.
Meanwhile, the total number of existing factories increased by 2.6 per cent and 5.1 per cent on a quarterly and annual basis, respectively, reaching 11,273 factories.
The total number of employees reached 757,429 workers, showing a quarterly and annual growth rate of 2.9 per cent and 11.6 per cent, respectively.
Investments were concentrated in the Eastern Region, accounting for 41.2 per cent of the total investment volume, with a value of SR617.191bn ($164.5bn).
The Riyadh Region, however, had the highest number of existing factories, with 4,389 factories, representing 38.9 per cent of the total number of factories.
Additionally, Riyadh had the largest workforce of 282,702 employees, accounting for 37.3 per cent of the total number of workers in Saudi Arabia.
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