SAUDI ARABIA

Saudi economy grows 3.8% in Q1

June 08, 2023

RIYADH — The real GDP of Saudi Arabia grew by 3.8% in the first quarter of 2023, compared to Q1 of 2022, new figures from the General Authority for Statistics (GASTAT) showed on Thursday.

Estimates of GDP for Q1 this year, issued by GASTAT, showed a 5.4% increase in non-oil activities, a 4.9% increase in government activities, and a 1.4% increase in oil activities over Q1 of 2022.

According to the report, seasonally adjusted real GDP decreased by 1.4% in Q1 of 2023 compared to Q4 of 2022.

GASTAT is the only official reference for statistical data and information in Saudi Arabia. It carries out all statistical work, as well as the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyses data and information, and documents and archives all works containing information and statistical data on all aspects of life in Saudi Arabia. It collects, classifies and analyses data, and extracts indicators from it. — SPA


June 08, 2023
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