The Saudi General Authority for Statistics (GASTAT) has published on its website flash estimates of the Saudi Gross Domestic Product (GDP) growth rate for the first quarter of 2022.
The flash estimates revealed that the Saudi GDP has made the highest growth rate in the past 10 years, achieving a growth rate of 9.6 percent during the first quarter of 2022, compared to the same period in 2021, driven by a significant increase in oil activities by 20.4 percent, in addition to an increase in non-oil activities by 3.7 percent and an increase in government services activities by 2.4 percent.
According to the Saudi Press Agency (SPA), the results published by GASTAT showed that the seasonally adjusted real GDP in the Kingdom grew by 2.2 perceny in the first quarter of 2022 compared to the previous year. This increase was due to the positive growth in oil activities by 2.9 percent, and an increase in non-oil activities by 2.5 percent, while government services activities decreased by 0.9 percent.
Source: Emirates News Agency