KSA ranks first among the G20 in productivity growth rate

The Kingdom of Saudi Arabia ranked first among the G20 countries in the factor productivity growth rate for the year 2022.

The achieved productive value was 4.9%, according to the International Labor Organization (ILO).

(ILO) issued this within the series of modeled readings annually by worker productivity.

This figure represents the highest productivity growth rate achieved by the Kingdom, according to the same source.

In 2019, the Saudi growth rate reached -6.3%.

It rose in 2021 to 4.4%, before reaching its highest level in 2022.

It is noteworthy that the (HRSD), in partnership with government agencies, has contributed to this achievement.

The Ministry has initiated the development and regulation of the Saudi labor market.

It also enhanced its attractiveness and improved its productive efficiency in accordance with the labor market strategy.

The Saudi economy is among the G20 twenty largest economies in the world, and the largest in the Arab world in the Middle East region.

Saudi Arabia is a permanent member and leader of OPEC countries.

It is also a permanent member of the Group of Twenty countries G20.

Saudi Arabia has the second most valuable natural resource in the world, with a total value of $35 trillion.

Saudi Arabia has the second-largest proven oil reserves and is the largest oil exporter in the world.

It also has the fifth-largest proven reserves of natural gas and is considered an energy superpower.