June 2, 2023


Breaking News Breaf

The Saudi economy grows 8.7% in 2022 | Gulf newspaper

During the year 2022, the Saudi economy achieved a growth in the gross domestic product of 8.7%, as this rate is the highest growth rate among the G-20 countries during this year, despite the complex economic conditions and challenges experienced by the countries of the world, thus exceeding the expectations of international organizations that reached the maximum Its estimates are 8.3%, while the current growth rate is the highest annual rate in the last decade, according to what was issued by the General Authority for Statistics, on Thursday, according to the GDP report and national accounts indicators for the fourth quarter of 2022.
And the General Authority for Statistics announced that “the gross domestic product at current prices amounted to more than one trillion US dollars in 2022, which is the first time that the gross domestic product in the Kingdom of Saudi Arabia achieved this total value, supported by the diversity of activities that contributed to achieving it, as all activities achieved The economy has positive growth rates during the year 2022, as the contribution of crude oil and natural gas activities reached 32.7%, followed by government services activities by 14.2%, followed by manufacturing activities except for oil refining by 8.6%, then wholesale and retail trade activities, restaurants and hotels with a contribution of 8.2%. ».
The results of the report revealed a positive growth in non-oil activities by 5.4% during 2022. Transportation, storage and communications activities reached the highest growth rates in non-oil activities by 9.1%, followed by manufacturing activities, except for oil refining, by 7.7%.
Within the framework of the fourth quarter of 2022, the report revealed that “real GDP increased by 5.5% compared to the same quarter of the previous year, as non-oil activities increased by 6.2% compared to what it was in the same period of the previous year.”
The report also showed, “The real GDP of oil activities grew by 6.1% during the fourth quarter of 2022, compared to the same period in the previous year 2021, while the seasonally adjusted real GDP during the fourth quarter of 2022 increased by 1.3%.” Compared to what it was in the third quarter of 2022.
The General Authority for Statistics is the sole and official statistical reference for statistical data and information in the Kingdom. It carries out all statistical work, technical supervision of the statistical sector, design and implementation of field surveys, conduct statistical studies and research, analyze data and information, and all works of documenting and preserving statistical information and data that cover all sectors. Aspects of life in the Kingdom from its multiple sources, writing it down, classifying it, analyzing it, and extracting its statistical indicators.