Saudi Digital Economy Expands GDP Share

Saudi Arabia’s digital economy continued to expand in 2024, accounting for 16.0% of the Kingdom’s gross domestic product (GDP), up from 15.6% in 2023, according to the results of the Digital Economy Survey.  

The core digital economy contributed 2.7% to GDP, while the narrow digital economy accounted for 2.4%. The broad digital economy made up the largest portion, representing 10.9% of GDP.

Survey findings showed that operating revenues in the information and communications technology (ICT) sector reached SAR249.8 billion in 2024. Wired and wireless telecommunications activities led the sector with revenues of SAR133.9 billion, followed by computer programming activities at SAR31.1 billion.

Operating expenditures in the ICT sector totaled SAR122.2 billion, while employee compensation amounted to SAR29.2 billion. Wired and wireless telecommunications activities accounted for the highest share of employee compensation at SAR16.1 billion.

In terms of foreign trade, imports of ICT goods rose from SAR54.9 billion in 2023 to SAR67.9 billion in 2024, marking a 23.5% increase. Communications equipment led imports, valued at SAR36.8 billion. Meanwhile, exports and re-exports of ICT goods surged to SAR25.8 billion in 2024, up from SAR11.8 billion the previous year, representing growth of 118%.

Previously, News Agency reported Saudi unemployment falls to 7.5% amid strong gains in female workforce participation. 

SPA