234.4 billion riyals is the output of the wholesale and retail trade sector in 2020, which constitutes 9.3% of the Saudi economy


The GDP of the retail and wholesale trade sector in Saudi Arabia during the past year reached 234.4 billion riyals, compared to about 246.1 billion riyals for the previous year, recording a decline of 4.75 percent, equivalent to about 11.7 billion riyals, at constant prices.
According to the monitoring unit of the reports in Al-Eqtisadiah newspaper, based on official data, the retail and wholesale trade sector activity was affected during the past year as a result of the economic closure to confront the outbreak of the Covid-19 pandemic, especially in the second and third quarters, while the performance in the fourth quarter was the least in terms of backing down.
Before that, the sector recorded a strong performance in the first quarter of last year, as it grew at the highest rate since 2013, that is, in about seven years, on an annual basis, while the sector recorded negative growth in the second quarter at 18.3 per cent, then 5.2 per cent for the third quarter. While the pace of decline decreased in the last quarter of the year to 1.2 per cent.
Despite the performance in the past year, the sector maintained its weight in the Saudi economy at 9.3 percent, which are the same levels as the previous year, and these levels are the highest according to the available data since 2011.
While the sector constitutes about 15.7 percent of non-oil GDP during the past year 2020, while it was about 16 percent for the year preceding 2019, noting that the sector includes vehicle repair activities in addition to hotel and restaurant activities.
The wholesale and retail trade sector occupies about 1.89 million jobs by the end of last year, with a localization rate of 23.2 percent, which equates to 439.2 thousand jobs, of which 173.8 thousand jobs are women, according to the participants through the social insurance systems.
Saudi Arabia achieved a total output during the past year amounting to about 2.53 trillion riyals, compared to about 2.64 trillion riyals for the year before 2019, with a contraction of about 4.1 percent, affected by the decline in the oil sector by about 6.7 percent.
The wholesale and retail trade sector is the fourth most important sector in terms of contributing to the GDP, with the exception of the mining and quarrying sector, which includes “oil and gas”, as it comes after both the government services sector, which constitutes about 14.7 per cent, and the manufacturing industries sector, which contributes about 11 per cent. Percent, as well as the financial services, insurance and real estate services sector, which contributes about 10.8 percent.Economic Reports Unit


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