Saudi GDP grows 8.6% in Q3 2022

The Kingdom of Saudi Arabia's flag

Saudi Arabia’s real gross domestic product (GDP) rose 8.6% year-on-year (YoY) in the third quarter of 2022, data issued by the General Authority for Statistics (GASTAT) showed.

 

GASTAT added that this economic growth was primarily driven by the pick-up in oil activities at 14.5% YoY.

 

Non-oil activities grew by 5.6% YoY. Government activities rose by 2.4% YoY.

 

GASTAT started publishing flash estimates of the quarterly GDP as of Q3 2020, in order to provide timely information on the Saudi economy for decision-makers.

 

The following table shows Saudi Arabia's GDP performance since 2018:

 

GDP, Real GDP Growth Rates with Seasonal Amendments

Period

QoQ

YoY

Q1 2018

+ 1.4 %

+ 1.4 %

Q2 2018

+ 1.0 %

+ 1.6 %

Q3 2018

+ 1.0 %

+ 2.4 %

Q4 2018

+ 0.5 %

+ 4.3 %

Q1 2019

(0.9%)

+ 1.7 %

Q2 2019

+ 0.1 %

+ 0.5 %

Q3 2019

(0.2%)

(0.5%)

Q4 2019

+ 0.3 %

(0.3%)

Q1 2020

(1.3%)

(1.1%)

Q2 2020

(4.8%)

(7.2%)

Q3 2020

+ 0.7 %

(4.5%)

Q4 2020

+ 2.1 %

(3.8%)

Q1 2021

(1.1%)

(2.6%)

Q2 2021

+ 0.2 %

+ 1.9 %

Q3 2021

+ 5.7 %

+ 7.0 %

Q4 2021

+ 1.6 %

+ 6.7 %

Q1 2022

+2.6%

+9.9%

Q2 2022

+2.2%

12.2%

Q3 2022

+2.6%

8.6%

  * Includes seasonal adjustments.

 

 

The following table shows details of Saudi Arabia's GDP in Q3 2022:

 

 GDP by Economic Activity in Q3 2022

Activity

QoQ*

YoY

Oil activities

+5.8%

+14.5%

Non-oil activities

+0.2%

+5.6%

Government activities

+1.1%

+2.4%

GDP

+2.6%

+8.6%
* Includes seasonal adjustments.

 

 

Details and historical data for Macro Economy

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