Latest news with #SaudiGeneralAuthorityforStatistics
Gulf Today
29-06-2025
- Business
- Gulf Today
Saudi Arabia's net foreign direct investment falls 7% in Q1
The Saudi General Authority for Statistics reported on Sunday that Foreign Direct Investment (FDI) inflows reached SAR 22.2 billion (USD 5.9 billion) in Q1 2025, while the unemployment rate declined to 7.8%. The data indicated a 44 percent increase in FDI inflows compared to the same period last year, when it amounted to SAR 15.5 billion (USD 4.1 billion), despite a 7% decline compared to the fourth quarter of 2024, which recorded SAR 23.9 billion (USD 6.4 billion). FDI inflows into the Kingdom totaled SAR 24.0 billion (USD 6.4 billion) in Q1 2025, reflecting a 24% year-on-year increase but a 6% drop compared to Q4 2024. In the labour market, the data showed a decline in the overall unemployment rate for individuals aged 15 and older to 7.8% in Q1 2025, compared to 8.5% in Q4 2024, 3.7% males, and 18.4% females. The Authority reported Saudi unemployment falling to 7.6%, down from 8.4%, with male unemployment sliding from 5.1% to 4.7% and female easing from 14.3% to 13%. The labour force participation rate for Saudis stood at 47.6%, with 66.6% for males and 35.4% for females, while the employment-to-population ratio was 92.4%. The data showed that the majority of Saudi job seekers are in the 20-29 age group, with the highest numbers in Riyadh, Makkah, the Eastern Province, Aseer, and Qassim. WAM
Morocco World
09-06-2025
- Morocco World
Saudi Arabia Celebrates Successful Hajj Season
Rabat — Saudi Arabia's authorities are celebrating a successful Hajj season at all levels, which ensured security and health for pilgrims. Prince Saud bin Mishaal bin Abdulaziz, the Deputy Governor of the Mecca region and Vice Chairman of the Permanent Committee for Hajj, extended his congratulations to all people who contributed to the success of Hajj this season. 'My thanks to my colleagues in the security, health, and service sectors,' as well as the volunteers who ensure access to the Hajj rituals. He also extended his appreciation to pilgrims, describing them as 'key partners in this success through their commitment and adherence to the regulations.' About two million Muslims performed the Hajj this season. The Saudi General Authority for Statistics said over 1,673,230 people carried out Hajj rituals, among them being 1,506,576 foreigners who traveled from around the world to Saudi Arabia. The number of Saudi citizens and residents who performed Hajj this season reached 166,654. As for Morocco, the Ministry of Equipment announced a quota of 34,000, with 22,400 pilgrims managed through official government channels and 11,600 through travel agencies. Crowd control crackdown Saudi authorities faced many challenges with unauthorized pilgrims this season. Emerging reports detail that many people across the world have flocked to the Gulf countries to perform the Hajj without going through the official procedure and selection measures. Earlier this month, Saudi authorities reportedly expelled over 205,000 people who attempted to perform the Hajj without a permit. Saudi Public Security also identified over 415 fake Hajj offices and turned back more than 269,000 pilgrims without permits. Those who broke the law faced penalties, including arrest measures against at least 1,239 individuals who attempted to transport unauthorized pilgrims. In April, Morocco's General Consulate in Jeddah urged Moroccan citizens regarding entry and residence regulations, detailing strict measures implemented by authorities in Saudi Arabia. 'Holders of Umrah visas are prohibited from entering Saudi territory starting April 13, 2025. Those already in the country before this date must leave Mecca and Saudi territory completely by April 29,' the consulate warned in its statement. The Saudi Ministry of Interior also announced strict financial penalties against anyone violating regulations regarding Hajj . Among the penalties are a fine estimated at $5,331 to those caught performing, or attempting to perform, Hajj without a permit. An estimated fine of $26,658 is also imposed on people who apply for a visit visa on behalf of someone who 'performed or attempted to perform Hajj without a permit,' Gulf Business reported recently. The same fine applies to anyone who travels and stays in Mecca during the restricted period. Tags: Hajj 2025Hajj pilgrimage
Time of India
09-06-2025
- Business
- Time of India
Saudi Arabia's first-quarter GDP grows by 3.4%, beating flash estimates
Saudi Arabia 's economy grew by more than expected in the first quarter of 2025, according to government data estimates, with lower oil prices impacting the economy less than previously forecast. First-quarter GDP grew by 3.4% compared to the same quarter of the previous year, beating flash estimates of 2.7% released in May by the Saudi General Authority for Statistics. "The upward revision was both due to a smaller annual contraction from the oil sector and stronger private sector growth," said Monica Malik , chief economist at Abu Dhabi Commercial Bank. Oil GDP shrank by 0.5%, while initial flash estimates had shown it contracting by 1.4%. Non-oil growth reached 4.9% compared to estimates last month pointing to a 4.2% increase. Live Events The impact of lower oil prices may have been blunted by the kingdom's increase of oil output. The kingdom faces a widening budget deficit with the International Monetary Fund saying Riyadh needs a price of oil of over $90 per barrel to balance its books compared to prices of around $60 per barrel in recent weeks. Saudi Arabia, the world's biggest oil exporter, lowered its July prices for Asian buyers at the beginning of June, after Organization of the Petroleum Exporting Countries and allies, known as OPEC+, hiked output for a fourth month. OPEC+ agreed to another big output increase of 411,000 bpd for July, having increased output by the same amount in May and June. Saudi Arabia is in the midst of a costly economic transformation program known as Vision 2030 that aims to wean the economy off oil dependency and has been funneling billions into massive new development projects. Saudi Finance Minister Mohammed Al-Jadaan said the kingdom would "take stock" of its spending priorities in response to a significant decline in oil revenue, the Financial Times reported in May. "We also expect to see some pullback in government spending to limit the widening of the fiscal deficit , which will likely weigh on non-oil growth," said Malik. Daniel Richards , senior economist at Emirates NBD, said that still, the bank believes that spending will remain high. "There is still sufficient project spending already in progress that growth will remain supported through this year and next at least," he wrote in a note. Saudi Arabia is committed to hosting several large international events, each of which require significant spending on construction and development. These include the 2029 Asian Winter Games, set to feature artificial snow and a man-made freshwater lake, and the 2034 World Cup, for which 11 new stadiums will be built and others renovated. Saudi Arabia's 2025 fiscal deficit is forecast at around 101 billion riyals ($27 billion).
Daily Tribune
07-06-2025
- Daily Tribune
Nearly 2 Million Pilgrims Enter Final Stages of Hajj with Ritual Stoning at Mina
Nearly two million Muslim pilgrims began the final phase of the Hajj pilgrimage on Saturday by performing the symbolic stoning of the devil at Mina. The sacred ritual marks one of the final rites of the pilgrimage before worshippers return to the Grand Mosque in Mecca for the farewell circumambulation, known as Tawaf al-Wada. According to local Saudi media reports monitored by Anadolu Agency, early groups of pilgrims made their way to the Jamarat complex in Mina at dawn, where they participated in the stoning ritual, which symbolizes the rejection of evil. In a statement issued on Saturday, the Saudi Ministry of Interior emphasized the importance of crowd control and safety, urging pilgrims to adhere to designated pathways to and from the Jamarat complex to ensure smooth movement and avoid congestion. The Saudi General Authority for Statistics confirmed that the total number of pilgrims performing Hajj this year — 1446 according to the Islamic calendar — reached 1,673,230. Of those, 1,506,576 arrived from abroad, while 166,654 were domestic pilgrims, including Saudi citizens and residents. This year's turnout mirrors the growing global enthusiasm for the spiritual journey, following last year's figures, where over 1.8 million pilgrims from 200 nations participated in the sacred rites. With meticulous planning, expansive infrastructure, and coordinated efforts by Saudi authorities, the Kingdom continues to deliver a seamless and spiritually enriching Hajj experience, reinforcing its commitment to hosting the Guests of Allah with unwavering dedication.
Al Manar
06-06-2025
- General
- Al Manar
Nearly 2M Pilgrims Continue Hajj Ritual on 1st Day of Eid al-Adha
Nearly two million Muslim pilgrims began the ritual of casting stones at the Jamarat pillars on Friday morning, marking the first day of Eid al-Adha and one of the key rituals of the annual Hajj pilgrimage in Mina, western Saudi Arabia. After completing the stoning of Jamarat Al-Aqaba, pilgrims continue with the other rites of Eid, including the ritual animal sacrifice marking the beginning of the four-day Eid al-Adha festival. Pilgrims will remain in Mina during the three days of Tashreeq (Saturday to Monday), continuing the stoning ritual. Saudi authorities announced on Thursday the successful movement of pilgrims to Mount Arafat, aided by advanced artificial intelligence systems. The six-day Hajj season began on Wednesday, and the final rituals will continue until Monday. The Saudi General Authority for Statistics announced that the number of Hajj pilgrims for the 1446 AH Islamic calendar year is 1,673,230, including 1,506,576 who arrived from outside the kingdom. The number of domestic pilgrims, Saudi citizens and residents, is 166,654. Last year, over 1.8 million Muslim pilgrims from 200 countries around the world performed the Hajj. The Hajj pilgrimage is the fifth pillar of the Islamic faith, a ritual that must be performed by all Muslims, if financially viable, at least once in their lives. The Hajj includes a number of rituals aimed at illustrating the fundamental concepts of Islam and commemorating the Prophet Abraham and his family's trials.
