Ministry of Economy and Planning: Non-oil activities grew by ‎‎6.1% during Q2‎

Saudi Ministry of Economy and Planning confirmed the growth of non-oil activities by 6.1% for the second quarter compared to the same period last year, as the real gross domestic product grew by 1.2% on an annual basis, through figures announced today based on data issued by government institutions. ‎

According to the General Authority for Statistics, merchandise imports recorded 51.4 billion riyals for the month of June, an increase of 25.6% on a monthly basis, and an increase of 17.1% on an annual basis. While non-oil merchandise exports, which include re-exports, recorded 16.9 billion riyals for the month of June, a decrease of 36.8% on a monthly basis, and a decrease of 45% on an annual basis.

According to data from the Central Bank of Saudi Arabia for the month of July, banks’ liabilities to the government amounted to 533 billion riyals, an increase of 0.5% on a monthly basis, and 8.1% on an annual basis. Banks’ liabilities from the public sector rose to about 533 billion riyals at the end of last July, by 0.5% on an annual basis, and 8.1% on a monthly basis.

Consumer spending (the sum of point-of-sale automated teller machines and payment systems) recorded 162.4 billion riyals for the month of July, an increase of 0.5% on a monthly basis, and 8% on an annual basis. Deposits of government and semi-governmental bodies and entities amounted to 473 billion riyals for the month of July, a decrease of 5.3% on a monthly basis, and a decrease of 32.5% on an annual basis.

The value of consumer loans is estimated at 444 billion riyals for the second quarter, a decrease of 0.9% on a quarterly basis, and 0.4% on an annual basis. The inflow of foreign direct investment exceeded 8.1 billion riyals for the first quarter, an increase of 12.4% on a quarterly basis, and 10.2% on an annual basis. The value of exports reached 363 billion riyals for the first quarter, a decrease of 4.4% on a quarterly basis, and a decrease of 5.5% on an annual basis, while the value of imports amounted to 261 billion riyals, a decrease of 2.4% on a quarterly basis, and an increase of 27.8% on an annual basis.