The Saudi economy grew by 9.6% during the first quarter of this year, achieving the highest growth rates since 2011, according to what was published on Sunday by the Kingdom’s General Authority for Statistics.
According to rapid estimates made by the General Authority for Statistics, the real GDP of the Kingdom of Saudi Arabia in the first quarter of 2022 achieved the highest growth rate during the past ten years, compared to the first quarter of 2021.
This positive growth is due to the significant increase achieved by oil activities by 20.4%, in addition to the increase achieved by non-oil activities by 3.7%.
Government services activities increased by 2.4%.
And the real GDP, seasonally adjusted, increased by 2.2% in the first quarter of 2022 compared to the fourth quarter of 2021.
This rise is also due to the positive growth witnessed in oil activities by 2.9%, in addition to an increase in non-oil activities by 2.5%, while government services activities witnessed a decrease of 0.9%.
