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Saudi mining sector’s income jumps 63% in 2022

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  • Mining accounted for one-third of private sector revenues

Private sector companies involved in the mining industry in Saudi Arabia recorded the highest operating revenues in the Gulf Kingdom’s non-oil sector after they jumped by nearly 63 percent in 2022, according to official data.

The mining sector generated almost a third of the total operating revenues of the private sector in the world’s largest oil exporter, following by non-oil industries, showed a government report published by the Saudi daily Alwatan.

The mining sector alone generated an operating income of nearly 1.4 trillion Saudi riyals ($373 billion) in 2022, an increase of 63 percent over 2021 when it stood at SAR909 billion ($242.2 billion), according to the report by the General Statistics Authority.

Total operating revenues of the Saudi private sector soared by around 24 percent to SAR5.07 trillion ($1.35 trillion) in 2022 from SAR4.08 trillion ($1.08 billion) in 2021, it showed.

(Writing by Nadim Kawach; Editing by Anoop Menon)



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