Saudi Arabia posts highest quarterly growth in two years
RIYADH, 2 days ago
Saudi Arabia has registered a 1.3% growth in real GDP compared to the previous year, with non-oil and government activities surging by 4.3% and 2.6%, respectively, while oil activities declined by 4.5%, according to the General Authority for Statistics (GASTAT), while releasing the GDP report and national accounts indicators for 2024 and the fourth quarter of 2024.
In terms of quarterly estimates, real GDP grew by 4.5% in the fourth quarter of 2024 compared to the same quarter of the previous year.
This growth was attributed to positive performance across all economic sectors, it stated.
Non-oil activities increased by 4.7%, oil activities grew by 3.4%, and government activities rose by 2.2% year-on-year.
The GASTAT report also noted that seasonally adjusted real GDP in the fourth quarter of 2024 grew by 0.5% compared to the third quarter of 2024.-TradeArabia News Service
