Private sector contribution to Saudi Arabia’s gross domestic product (GDP) increased to 44.1% in Q1 2021 from 41.5% in Q4 2020, data issued by the General Authority for Statistics (GASTAT) showed.

 

GDP at constant prices amounted to SAR 634.6 billion in Q1 2021, as the private sector accounted for SAR 279.74 billion.

 

The private sector was impacted during the past year by COVID-19, hence the government approved diverse stimulus bundles to mitigate the pandemic effects.

 

Crown Prince Mohammed bin Salman emphasized the vital role of the private sector as a key partner in the prosperity of the economy and the implementation of Vision 2030.

 

Saudi Arabia also launched "Shareek" program in Q1 2021, in order to enhance partnership with the private sector with the aim of supporting domestic firms and enabling them to access local investments worth SAR 5 trillion by the end of 2030.

 

Private Sector Contribution to Saudi Arabia’s GDP

Period

Private Sector Contribution to GDP (SAR bln)

Percentage of Private Sector Contribution to GDP (%)

Q1 2018

258.44

39.8%

Q2 2018

253.18

39.6%

Q3 2018

261.60

40.0%

Q4 2018

261.42

38.1%

Q1 2019

264.39

40.0%

Q2 2019

261.84

40.7%

Q3 2019

272.63

41.9%

Q4 2019

274.88

40.1%

Q1 2020

268.06

41.0%

Q2 2020

235.44

39.4%

Q3 2020

264.09

42.5%

Q4 2020

272.82

41.5%

Q1 2021

279.74

44.1%

 

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