The economy of the Kingdom of Saudi Arabia grew by 1.1 percent during the second quarter of 2023, compared to the second quarter of 2022, according to estimates by the General Authority for Statistics.
According to the authority, this growth in the gross domestic product is due to the increase achieved by non-oil activities by 5.5 percent, in addition to the increase achieved by government services activities by 2.7 percent, while oil activities decreased by 4.2 percent on an annual basis.
The seasonally adjusted real GDP decreased by 0.1 percent in the second quarter of 2023 compared to the first quarter, affected by the decline in oil activities by 1.4 percent, while non-oil activities rose by 1.8 percent in addition to the growth of government services activities by 0.6 percent on a Quarterly basis.
Source (Al-Arabiya.net Website, Edited)
