Doha: Saudi Arabia’s General Authority for Statistics (GASTAT) reported a notable increase in the contribution of the digital economy to the country’s gross domestic product (GDP), reaching 15.6 percent in 2023, representing a 1.6 percent growth compared to 2022.
According to Qatar News Agency, the results of the Saudi 2023 Digital Economy Statistics Publication highlighted that Saudi Arabia’s imports of information and communications technology (ICT) goods reached SAR 54.9 billion in 2023, compared to SAR 45.8 billion in 2022, marking an increase of 19.9 percent.
Conversely, exports and re-exports of ICT technologies showed significant growth, rising by 76.1 percent from SAR 6.7 billion to SAR 11.8 billion during the same period.
The publication also noted that 71.6 percent of internet-connected establishments in Saudi Arabia are leveraging smart devices or internet-enabled systems, such as smart alarm systems, smart meters, smart lighting, and surveillance cameras.
From a financial perspective, the ICT sector demonstrated substantial performance in 2023. Operating revenues reached approximately SAR 236.4 billion, while operating expenditure stood at SAR 115.4 billion. Total employee compensation in the sector amounted to SAR 27.5 billion.
In terms of digital economy stratification, the core level, which includes enterprises directly involved in the production of ICT goods and services, contributed 2.6 percent to the GDP. The narrow level, encompassing businesses that primarily rely on digital inputs for their operations, accounted for 2.3 percent. The broad level, representing entities utilizing digital technologies to enhance their products and services, contributed 10.7 percent.