Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Saudi GDP surges 12.2% in Q2, surpassing estimate

The industry is responsible for 37 percent of global carbon dioxide emissions. (AFP)
By TRENDS Desk
September 7, 2022 1:18 pm
  • The oil economy grew 4.4 percent in the second quarter from the first quarter
  • Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter

Riyadh, Saudi Arabia—Saudi Arabia’s real gross domestic product has surged by 12.2 percent in the second quarter compared with the same period of 2021, data showed on Wednesday,

The world’s top oil exporter has benefited from high crude prices and a post-pandemic recovery.

The growth figure exceeded a government estimate at the end of July of 11.8 percent GDP growth. The economy grew 2.2 percent from the first quarter.

The General Authority for Statistics said: “The growth is mainly due to the high increase in oil activities by 22.9 percent y-o-y”. The oil economy grew 4.4 percent in the second quarter from the first quarter.

Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter. Government activities grew by 2.4 percent in the year to end-June, a 0.4 percent rise compared to the first quarter.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]