The General Authority for Statistics in Saudi Arabia revealed that real GDP increased by 12.2 percent in the second quarter of the current year 2022 compared to the same quarter of 2021. Compared to the first quarter of 2022, the seasonally adjusted GDP grew by 2.2 percent. This economic growth is due to the significant increase achieved by oil activities, which amounted to 22.9 percent on an annual basis and 4.4 percent on a quarterly basis. Growth in non-oil activities reached 8.2 percent, on an annual basis, and 5.4 percent, on a quarterly basis.
Government activities recorded a growth of 2.4 percent on an annual basis and achieved a growth of 0.4 percent on a quarterly basis.
The gross domestic product amounted to 1.048 billion riyals in the second quarter of 2022, during which crude oil and natural gas activities achieved the highest contribution rate among activities, reaching 38.7 percent, followed by government services activities by 13.9 percent, and then manufacturing industries, except for refining oil, with a contribution of 7.5 percent. The per capita GDP amounted to 29,819 riyals in the second quarter of 2022, an increase of 44.6 percent, compared to the second quarter of 2021, and 10.6 percent compared to the first quarter of 2022.
Source (Al-Arabiya.net Website, Edited)
