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Saudi reports fastest economic growth rate in a decade – Gulf Insider

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Saudi Arabia’s real Gross Domestic Product rose by 9.6 percent in the first three months of 2022 compared to the same period last year, according to flash estimates by the General Authority for Statistics.

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Real GDP in Saudi Arabia was driven mostly by the Kingdom’s oil activities which increased by 20.4 percent from a year ago. Non-oil activities and government services rose by 3.7 percent and 2.4 percent, respectively.

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According to quarterly data provided by GASTAT, GDP in Saudi Arabia grew by 2.2 percent in Q1 of 2022 compared to the previous quarter. Oil activities had a positive quarterly increase of 2.9 percent, non-oil activities by 2.5 percent, while government activities decreased by 0.9 percent.

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ismailsesa

Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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