Saudi economy grows by 3.8% during Q1, driven by non-oil ‎activities

Today, the General Authority for Statistics issued the Gross Domestic Product and National Accounts Indicators report for the first quarter of the year 2023 AD, and according to estimates, the real GDP achieved during the first quarter of the year 2023 AD an increase of (3.8%) compared to what it was during the same period From the previous year 2022 AD.

The results of the report showed that non-oil activities achieved during the first quarter of the year 2023 a positive growth rate of (5.4%) compared to what it was in the same period of the previous year 2022 AD, and government activities achieved an increase of (4.9%) compared to what it was. In the same period of the previous year, oil activities also achieved during the first quarter of the year 2023 AD a positive growth rate of (1.4%) compared to what it was in the same period of the previous year.

The authority stated that the seasonally adjusted real gross domestic product witnessed a decrease of (4.1%) during the first quarter of 2023, 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 and preservation work. Statistical information and data cover all aspects of life in the Kingdom from its multiple sources, codification, classification, analysis, and extraction of statistical indicators.