The estimates of the Saudi General Authority for Statistics showed that the real GDP increased by 6.7 percent in the fourth quarter of 2021, compared to the same quarter of 2020, and compared to the third quarter of 2021, it achieved a growth of 1.6 percent.
According to the authority, the economic growth is mainly due to the rise in oil activities, which amounted to 10.9 percent on an annual basis and 1.8 percent on a quarterly basis. The growth in non-oil activities reached 5.1 percent on an annual basis, and 1.2 percent on a quarterly basis. Government activities recorded a growth of 2.4 percent on an annual basis and 1.5 percent on a quarterly basis.
The value of the gross domestic product in the fourth quarter of 2021 amounted to about 705.52 billion riyals, compared to about 661.19 billion riyals in the same quarter of 2020. The growth rate of the Saudi economy has shifted to the positive range after the repercussions of the Corona pandemic, since the second quarter of 2021, with a growth of 1.9 percent and a growth of 7 percent in the third quarter of 2021.
The per capita GDP amounted to 23,737 thousand riyals in the fourth quarter of 2021, an increase of 19.3 percent compared to the fourth quarter of 2020, and 3.7 percent compared to the third quarter of 2021. Real GDP grew by 3.2 percent in 2021, compared to a decline of 4.1 percent in 2020.
Source (Al-Arabiya.net Website, Edited)
