The General Authority for Statistics in Saudi Arabia revealed that real GDP increased by 12.2% in the second quarter of this year, on an annual basis.
Compared to the first quarter of 2022, the Kingdom's seasonally adjusted GDP grew by 2.2%.
This economic growth is mainly due to the significant increase achieved by oil activities, which amounted to 22.9%, on an annual basis, and 4.4%, on a quarterly basis. The growth in non-oil activities reached 8.2%, on an annual basis, and 5.4%, on a quarterly basis. Quarterly basis.
Government activities recorded a growth of 2.4%, on an annual basis, and achieved a growth of 0.4%, on a quarterly basis.
