The Saudi economy achieved real GDP growth during the fourth quarter of 2020 by 2.8% compared to the previous quarter.
and the quarterly report issued today, Wednesday, by the General Authority for Statistics, showed a decrease in GDP by 3.8% during the fourth quarter of 2020 compared to the same quarter of 2019.
and the Statistics Authority noted that it issued rapid estimates of quarterly GDP; To provide timely information on the Saudi economy to decision-maker and users.
Saudi Arabia's GDP decreased by 1.3% in the first quarter of 2020 on a quarterly basis, and fell by 5.2% in the second quarter of the year on a quarterly basis affected by the outbreak of the pandemic Corona, but it managed to grow by 1.8% in the third quarter, and 2.8% in the fourth quarter.
and on an annual basis, the Kingdom's GDP declined in the fourth quarter of 2020 for the sixth consecutive quarter; Since the last growth was recorded in the second quarter of 2019 by 0.5% on an annual basis, followed by a decline of 0.5% in the third quarter and 0.3% in the fourth quarter, and a 1% decrease in the first quarter of last year, followed by a sharp decline of 7% in the second quarter and 4 .6% in the third quarter and finally it decreased 3.8% in the fourth quarter on an annual basis.
and the gross domestic product of the Kingdom of Saudi Arabia decreased by 4.1% during the year 2020 on an annual basis.
and the Kingdom's GDP grew by 0.3% in 2019, preceded by a growth of 2.4% in 2018, a decline of 0.7% in 2017, and a rise of 1.7% in 2016, and it grew 4.1% in 2015, 3.7% in 2014, and 2.7% in 2013.
