The estimates of the Saudi General Authority for Statistics showed that the real GDP continued to rise, recording a growth of 8.6 percent during the third quarter of 2022, compared to the same quarter of 2021.
According to the General Authority for Statistics, the positive growth of the Saudi economy in the third quarter of this year is due to the increase in oil activities by 14.5 percent on an annual basis, in addition to the increase in non-oil activities by 5.6 percent, and government services activities increased by 2.4 percent.
The seasonally adjusted real GDP increased by 2.6 percent in the third quarter of 2022, compared to the previous quarter of 2022. Oil activities grew by 5.8 percent, in addition to the growth of government services by 1.1 percent. Non-semen activities also achieved a growth of 0.2 percent on a quarterly basis.
Saudi Arabia's real GDP grew by 11.8 percent in the second quarter of 2022, compared to the same quarter of 2021.
Source (Al-Arabiya.net Website, Edited)
