Data from the General Authority for Statistics in Saudi Arabia showed that the Kingdom's real GDP grew by 5.4 percent in the fourth quarter of 2022, compared to the same period in 2021.
According to the authority, this growth is due to the increase achieved by non-oil activities by 6.2 percent, in addition to the increase in oil activities by 6.1 percent. Government services activities also increased by 1.8 percent.
According to the authority's data, seasonally adjusted real GDP achieved an increase of 1.5 percent in the fourth quarter of last year 2022, compared to the previous quarter of the same year. This increase was due to a growth in non-oil activities of 1.7 percent. Government services activities increased by 0.5 percent. While Oil activities fell by 0.3 percent.
In addition, the real GDP for 2022 achieved a growth rate of 8.7 percent compared to the previous year 2021. This is due to the growth of oil activities by 15.4 percent, while non-oil activities achieved a growth rate of 5.4 percent, in addition to the growth of government services activities by 2.2 percent.
Source (Al-Arabiya.net, Edited)
