The Saudi General Authority for Statistics revealed that the growth of the Saudi economy during the fourth quarter of 2020, disclosing a 2.5 percent increase in gross domestic product.
According to the official data, the rise of the Saudi economy comes on a quarterly basis, supported by the increase in the growth rate in the oil sector by 2.6 percent, as well as by the growth of the non-oil sector by 2.4 percent, in addition to the dynamism of the rising private sector by 3.2 percent and the government sector by 0.6 percent.
According to the authority, the Saudi GDP, at constant prices, recorded a decrease in the annual comparison, by 3.9 percent, as a result of a decrease in the growth of the total oil sector by 8.5 percent, and the non-oil sector by 0.8 percent.
Saudi Arabia’s GDP reached 658 billion riyals ($175.4 billion) in the fourth quarter. As the value of the GDP of the oil sector decreased to 255 billion riyals, and the non-oil sector to 398.2 billion riyals during the same period.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
