The Saudi economy grew by 9.6% in the first quarter, the highest rate since 2011

The Saudi economy grew 9.6% in the first quarter of questyear, reaching the highest growth rates since 2011, the Kingdom General Statistical Authority published Sunday.

According to quick estimates by the General Statistical Authority, the real GDP of the Kingdom of Saudi Arabia in the first quarter of 2022 reached the highest growth rate of the last ten years, compared to the first quarter of 2021.

This positive growth is due to the significant increase achieved by oil activities of 20.4%, in addition to the increase achieved by non-oil activities of 3.7%.

Public service activities increased by 2.4%.

And seasonally adjusted real GDP increased by 2.2% in the first quarter of 2022 compared to the fourth quarter of 2021.

This increase is also due to the positive growth in oil activities of 2.9%, as well as an increase in non-oil activities of 2.5%, while public service activities recorded a decline of 0.9%.

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