GDP of Saudi Arabia grows by 9.6 percent in Q1 2022

According to the Saudi General Authority for Statistics (GASTAT), it has published on its website flash estimates of Saudi gross domestic product (GDP) growth for the first quarter of 2022. In the first quarter of 2022, the Saudi GDP grew by 9.6 percent over the same period in 2021, which was fueled by an increase of 20.4 percent in oil activities, as well as an increase of 3.7 percent in non-oil activities and 2.4 percent in government services.

According to figures published by GASTAT in the first quarter of 2022, the seasonally adjusted real gross domestic product of the Kingdom increased by 2.2 percentage points as compared to the previous year. This increase may be attributed to a positive growth of 2.9% in oil and gas activities in addition to a growth of 2.5% in non-oil activities, whereas government services activities decreased by 0.9 percent.