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Saudi economy grows 3.2% in 2021, the highest rate in 6 years

The new freight service will connect King Abdulaziz Port with six major regional and international ports. (AFP)
By TRENDS Desk
March 16, 2022 3:27 pm
  • The economy expanded in 2021 by the highest annual rate since 2015
  • The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent

Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product, a year after its economy struggled with recession.

The economy expanded in 2021 by the highest annual rate since 2015. Real GDP for the year 2021 grew by 3.2 percent compared to negative growth in 2020 of 4.1 percent, the General Authority for Statistics data showed.

The economy grew thanks to the rise in non-oil sector by 6.1 percent, while oil activities showed a modest growth of 0.2 percent. The government activities grew by 1.5 percent.

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