Saudi arabia GDP

Saudi Arabia’s Q3 GDP shrinks 4.5% y/y on sharp decline in oil activity

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Saudi Arabia’s Q3 GDP shrinks 4.5% y/y on sharp decline in oil activity

Saudi Arabia‘s real gross domestic product (GDP) contracted by 4.5% in the third quarter, according to preliminary government data on Tuesday, weighed down by a sharp fall in oil activity. Oil activities decreased by 17.3% in the third quarter from a year earlier, the General Authority for Statistics data showed, pulling overall growth lower despite … Read more

Saudi Arabia’s GDP grows 8.6% in the third quarter

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Saudi Arabia’s GDP grows 8.6% in the third quarter

Saudi Arabia‘s gross domestic product expanded by 8.6% in the third quarter compared with the same period in 2021, according to initial government estimates on Monday, as the world’s top oil exporter benefits from higher energy prices. Growth was largely driven by a 14.5% increase in oil activities, the General Authority for Statistics said, while … Read more