The real Gross Domestic Product (GDP) of Saudi Arabia grew by 6.8 percent in Q4 of 2021 compared to Q4 of 2020, according to the flash estimates of the real GDP growth rate report for the fourth quarter (Q4) of 2021, official sources have said.
The data is said to have been released on Thursday, February 10, by the country’s General Authority for Statistics (GASTAT).
This positive growth was due to the high increase in oil activities (10.8 percent), even as non-oil activities increased by 5 percent, and government services activities increased by 2.4 percent year-on-year.
The seasonally adjusted real GDP grew by 1.6 percent in Q4 of 2021 compared to the previous quarter (Q3 of 2021).
This increase was the result of the growth in oil activities by 1.8 percent, non- oil activities increased by 1.5 percent, and government services activities grew by 1.2 percent.
The report revealed that the real GDP for the year 2021 achieved a growth rate of 3.3 percent compared to the decrease in 2020.
This increase in GDP resulted of the economy recovering from the Covid-19 crisis through the growth of non-oil activities by 6.6 percent, as government services activities increased by 1.5 percent, and oil activities grew by 0.2 percent.