Saudi GDP grows 5.4% in Q4 2022, 8.7% in 2022

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Saudi Arabia’s real gross domestic product (GDP) rose 5.4% year-on-year (YoY) in the fourth quarter of 2022, data issued by the General Authority for Statistics (GASTAT) showed. 

The Kingdom’s annual real GDP grew for the seventh quarter in a row, recording 8.7% growth in 2022.

This growth was triggered by a 6.2% increase in non-oil activities, in addition to a 6.1% rise in oil activities. Government services also grew 1.8% in 2022.

Read also: IMF predicts continued strong growth of Saudi non-oil economy in 2023

GASTAT started to publish flash estimates for GDP on a quarterly basis starting from the third quarter of 2020 to provide real-time information about the Saudi economy.

The authority defines flash estimates of the quarterly GDP as an estimation of the quarterly GDP during a short period after the end of the reference quarter when the data related to the quarter is still incomplete.

The table below indicates Saudi GDP growth since 2018:

The following table shows Saudi Arabia's GDP by regulatory sector at constant prices during Q4 2022:

GDP By Economic Activity at Constant Prices in Q4 2022
Sector	QoQ	YoY
Oil activities	(0.3%)	+6.1%
Non-oil activities	+1.7%	+6.2%
Government activities	+0.5%	+1.8%
GDP	+1.5%	+5.4%

Details and historical data for Macro Economy