In Q4 of 2023, the net value of foreign direct investment (FDI) flows in the Kingdom amounted to SAR 13 billion, representing an increase of more than 16% compared to Q3 of the same year. This information is based on the Foreign Direct Investment Publication for the fourth quarter of 2023 from the General Authority for Statistics. The results of the Publication showed that the value of FDI inflows into the Kingdom's economy reached SAR 19 billion, an increase of 16.6% compared to Q3 of the same year, which was valued at SAR 16 billion. The Publication also indicated that the value of FDI outflows from the Kingdom's economy was about SAR 6 billion, representing an increase of 17.6% compared to Q3 of the same year, which amounted to SAR 5 billion.

The General Authority for Statistics (GASTAT) issued today the Labor Market Publication for Q4 of 2023. According to the results of this publication, the total unemployment rate (for Saudis and non-Saudis) decreased to 4.4% from Q3, 2023 by 0.7 percentage points, where it was 5.1%. The unemployment rate for Saudis also decreased to 7.7% in Q4 of 2023 compared to 8.6% in Q3, 2023. Additionally, the unemployment rate for Saudi females during Q4 of 2023 decreased to 13.7% compared to 16.3% in the previous quarter, while the unemployment rate for Saudi males remained stable at 4.6% in Q4 of 2023. During the fourth quarter of 2023, the labor force indicators showed a decline in the total participation rate in labor force (for Saudis and non-Saudis) compared to Q3, 2023, reaching 60.4%. Moreover, the participation rate in labor force for Saudis dropped to 51.3%, compared to the previous quarter. The results of the Labor Market Publication also indicated a decrease in the participation rate in labor force for Saudi females during Q4 of 2023, with 35.5% compared to the previous quarter. However, the participation rate in labor force for Saudi males in Q4 of 2023 decreased to 66.6% compared to 66.8% in the previous quarter. It is worth mentioning that the Labor Market Publication bases its results on a household survey conducted by GASTAT falling under the social statistics. Data is collected through a representative sample of population from various administrative regions in the Kingdom of Saudi Arabia, by completing an electronic questionnaire containing several questions. This process provides estimates and indicators related to the labor force of population in the working age group (15 years and above) residing in the Kingdom of Saudi Arabia, estimating the population (inside and outside the labor force), and calculating key labor market indicators such as the unemployment rate, labor force participation rate, and others.

Based on its role in developing the statistical sector, the General Authority for Statistics adopted the chain-linked methodology in the national accounts to calculate the real GDP. The publication of Q4, 2023 and the annual publication of the same year will be published using the new methodology instead of the previous methodology that was based on utilizing the fixed base year. Saudi Arabia is the first country in the Gulf and Arab regions and among the first G20 countries that implement the chain-linked methodology. This dynamic methodology is thought to be a useful tool for estimating the real growth rates of national accounts and for measuring economic growth rates using weights and prices from the prior year as a benchmark to provide measurements within adjacent time periods. It accurately reflects the current economic conditions of any country that employs it. Expert statisticians in the field of national accounts have pointed out that the chain-linked methodology takes into account the impact of price changes, flexibility in dealing with economic activities along with their continuous updating and accurately reflects economic changes. It also considers production structure and consumption patterns, allowing for clearer international comparisons. International statistical organizations and bodies concerned with national accounts systems urge countries worldwide to adopt the chain-linked methodology instead of the previous methodology that used a fixed base year for weights and prices, in order to accurately reflect real growth at the national level and monitor developments and achievements effectively. It is worth mentioning that the Gross Domestic Product publication is one of the releases issued by the General Authority for Statistics on a quarterly and annual basis to provide estimates of the GDP for the relevant period, expenditure components, measure the contribution of economic activities and various regulatory sectors, as well as provide modern annual economic indicators such as GDP growth rates, relative contributions of economic activities, and regulatory sectors to the GDP according to the latest international systems. It also includes many analytical tables highlighting the tracks of the national economy. National accounts publications also contribute to meeting the requirements of the Kingdom Vision 2030, regional requirements to understand the national economy, including the statistical center of the Gulf Cooperation Council, the Arab Monetary Fund, the League of Arab States, in addition to international requirements such as those of the World Bank, the International Monetary Fund, the Organization for Economic Cooperation and Development, and others. The General Authority for Statistics website provides more details about its statistical products.

General Authority for Statistics participated in the fifty-fifth session of the United Nations Statistical Commission which took place from 27 February to 1 March 2024 at the United Nations Headquarters in New York. Representatives of member states' statistical offices and representatives of United Nations statistical organizations involved in statistical work took part in the session. The session discussed topics related to international statistical activities, reviewed practices related to sustainable development indicators for the year 2023 and the progress made, as well as discussed indicators related to economic, social, spatial, and resource statistics. It also addressed developments in the methodologies of calculating statistical indicators and indices and their applications in participating countries, as well as new and improved data collection methods. Such sessions are important as they work on reviewing and setting statistical standards, developing concepts and methods used by official statistical offices worldwide and discussing new international statistical methodologies, standards, and classifications. They also shed light on reviewing key international statistics related to economic and social matters and discussing international efforts to develop the capabilities of statisticians. It is worth mentioning that the United Nations Statistics Division organizes the Statistical Commission session annually in the first quarter of each year. This session is one of the highest levels of international statistical sessions and serves as a reference for those interested in statistical field.