The estimates of the Saudi General Authority for Statistics showed that the Kingdom’s gross domestic product (GDP) at constant prices grew by 1.8% in the second quarter of 2021, on an annual basis.
According to the authority, the positive growth is due to the increase achieved by the non-oil sector by 8.4%, due to the increase in the private sector by 11.1%, and the government sector by 2.3%, while the oil sector declined by 6.9% compared to the same quarter of 2020.
The Kingdom’s seasonally adjusted GDP increased by 0.6% in the second quarter of 2021, compared to the first quarter of 2021, due to the increase in the growth rate of the oil sector by 2.4%, while the private sector and the government sector recorded a decrease of 0.5% in each.
The Kingdom’s GDP at current prices amounted to 735.034 billion riyals in the second quarter of 2021, and the private sector contributed 48% of the GDP at current prices, while the oil sector contributed 29.3%, and the government sector contributed 22.6%. Noting that the final private consumption expenditures achieved the highest growth rates for the second quarter of 2021, on an annual basis, at 21.9%, compared to a positive growth rate of 1.3% in the previous quarter.
Source (Al-Arabiya.net website, Edited)
