Saudi real GDP surges 9.9% in Q1 on big oil activity
RIYADH, June 7, 2022
Saudi Arabia's real gross domestic product (GDP) grew by 9.9% in first quarter of 2022 compared to the same period last year and the seasonally adjusted real GDP increased by 2.6% compared to Q4/2021 (Q-o-Q), reported SPA citing a report released by the General Authority for Statistics (GASTAT).
The GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It executes all the statistical work, in addition to the technical oversight of the statistical sector.
This real GDP growth is due to the high increase in oil activities by 20.3% in the first quarter of 2022 compared to the first quarter of 2021 (2.9% Q-o-Q), stated GASTAT in its report.
The non-oil activities increased by 3.7% (0.9% Q-o-Q), it added.
