Saudi economy grows by 1.1%, driven by increase in non-oil ‎activities Q2‎

General Authority for Statistics revealed that the real GDP of the Kingdom of Saudi Arabia increased by 1.1% during the second quarter of 2023 AD, compared to the second quarter of 2022. This growth is due to the increase achieved by non-oil activities by 5.5% in addition to the increase Which was achieved by government services activities by 2.7%, while oil activities decreased by 4.2% on an annual basis.

The authority said that the adjusted real gross domestic product declined seasonally by 0.1% in the second quarter of 2023 compared to the first quarter of 2023, affected by the decline in oil activities by 1.4%, while non-oil activities increased by 1.8%, in addition to the growth in activities Government services increased by 0.6% on a quarterly basis.