Non-oil activities lead Saudi economy to grow by 3.9% during ‎Q1‎

The real GDP of Saudi Arabia increased during the first quarter of the year 2023 by (3.9%) compared to what it was during the same period of the previous year 2022 AD.

The results of the rapid estimates report of GDP for the first quarter of the year 2023 AD, issued by the General Authority for Statistics, showed that non-oil activities achieved a positive growth rate of (5.8%) during the first quarter compared to what it was in the same period of the previous year 2022 AD. Oil activities increased by (1.3%) compared to what it was in the same period of the previous year.

According to the results of the report, the seasonally adjusted real GDP decreased during the first quarter of 2023 by an average of (1.3%) compared to what it was in the fourth quarter of 2022.

It is noteworthy that the General Authority for Statistics is the official and sole statistical reference for statistical data and information in the Kingdom, and it carries out all statistical work, technical supervision of the statistical sector, design and implementation of field surveys, conducting statistical studies and research, analyzing data and information, and all documentation in addition to preservation work, statistical information and data covering all aspects of life in the Kingdom from its multiple sources, codification, classification, analysis, and extraction of its statistical indicators.