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Saudi economy grows by 1.1% driven by the growth of non-oil activities by 5.5% in quarter 2 of 2023

31-07-2023

The General Authority for statistics (GASTAT) released the GDP Flash Estimates Publication for the second quarter of 2023. According to the publication, real GDP increased by (1.1%) during the second quarter of 2023 compared to the same period of last year 2022.    The publication activities showed that non-oil activities positively grew by (5.5%) in quarter 2, 2023 compared to the same period of last year 2022. However, oil activities decreased by (4.2%) compared to the same period of last year.   The results also demonstrated that the seasonally adjusted real GDP declined by (0.1%) during the second quarter of 2023, compared to the first quarter of the same year.  It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.

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