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The Kingdom of Saudi Arabia's flag
Saudi Arabia’s gross domestic product (GDP) rose by 1.5% year-on-year (YoY) by the end of Q2 2021, data issued by the General Authority for Statistics (GASTAT) showed.
This positive growth is the first since the start of the COVID-19 pandemic, the authority said.
It further attributed the growth to the increase in non-oil activities by 10.1%, in addition to the 0.7% rise in government activities, while oil activities witnessed a decrease of 7%.
The seasonally adjusted real GDP increased by 1.1% quarter-on-quarter (QoQ) in Q2 2021.
As of Q3 2020, GASTAT began publishing flash quarterly GDP estimates to provide timely information on the Saudi economy to decision makers and users.
|
Real GDP and GDP Growth Rates, with Seasonal Adjustments* |
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|
Period |
QoQ (With Seasonal Adjustments) |
YoY |
|
Q1 2018 |
+1.4% |
+1.4% |
|
Q2 |
+1.0% |
+1.6% |
|
Q3 |
+1.0% |
+2.4% |
|
Q4 |
+0.5% |
+4.3% |
|
Q1 2019 |
(0.9%) |
+1.7% |
|
Q2 |
+0.1% |
+0.5% |
|
Q3 |
(0.2%) |
(0.5%) |
|
Q4 |
+0.3% |
(0.3%) |
|
Q1 2020 |
(1.6%) |
(1.0%) |
|
Q2 |
(5.5%) |
(7.0%) |
|
Q3 |
+2.1% |
(4.6%) |
|
Q4 |
+1.8% |
(3.9%) |
|
Q1 2021 |
(0.5%) |
(3.0%) |
|
Q2 |
+1.1% |
+1.5% |
* Updated data.
|
GDP Growth rate in Q2 2021 |
|||
|
Sector |
Q1 2021 |
Q2 2021 |
|
|
Oil Sector |
+2.5% |
(7.0%) |
|
|
Non-Oil Sector |
+1.3% |
+10.1% |
|
|
Governmental Services |
|
(2.6%) |
+0.7% |
|
GDP |
|
+1.1% |
+1.5% |
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