Saudi’s real GDP grows by 8.6% in Q3 of 2022

RIYADH, The real Gross Domestic Product (GDP) of Saudi Arabia continued to grow by 8.6% in Q3 2022 compared to Q3 2021, according to flash estimates by the Saudi General Authority for Statistics (GASTAT).

This growth is mainly due to the increase in oil activities by 14.5% in Q3 2022. Non-oil activities grew by 5.6% and government services activities by 2.4% (year-on-year) in the reference period, reported Saudi Press Agency (SPA).

The seasonally adjusted real GDP increased by 2.6% in Q3 2022 compared to the previous quarter, Q2 2022. Oil activities grew by 5.8%, government services activities by 1.1%, and non-oil activities by 0.2% (Quarter-on-Quarter).

The General Authority for Statistics is the only official statistical reference for statistical data and information in Saudi Arabia. It executes 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 researches, and analyses data and information, in addition to documenting and archiving works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources.

Source: Emirates News Agency

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