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 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.

[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"]