Saudi Arabia’s GDP has risen by 6.8 percent in the third quarter of 2021 compared to Q3 2020, according to the kingdom’s General Authority for Statistics (GASTAT).
The authority attributed the growth to an increase in oil activities by 9 percent as a result of the rising global demand for crude oil and the increase of Saudi production in 2021.
Non-oil activities increased by 6.2 percent and government activities increased by 2.7 percent year-on-year.
The seasonally adjusted quarterly real GDP grew by 5.8 percent in Q3, compared to the previous quarter.
The flash estimates of quarterly GDP are calculated based on estimates of quarterly national accounts with a short delay compared to the end of the reference quarter.
At this time, the information relative to the most recent quarter is still partial and therefore subject to a relatively high level of approximation, GASTAT said.
The flash estimates of quarterly GDP in constant prices are published at approximately 40 days from the end of the reference quarter and only cover the entire national economy and are presented without any sector detail.