The government services activities increased by 1.8 percent in the fourth quarter of last year, compared to the same quarter in 2021…reports Asian Lite News
Real gross domestic product of the Kingdom of Saudi Arabia grew by 5.4 percent in Q4 of 2022, compared to the same period in 2021, driven by a high increase in non-oil activities, according to the latest report released by the General Authority for Statistics (GASTAT).
The GASTAT report noted that non-oil activities in the Kingdom rose 6.2 percent year-on-year in the fourth quarter of 2022, while oil activities rose by 6.1 percent during the same period, the Arab News reported.
The government services activities increased by 1.8 percent in the fourth quarter of last year, compared to the same quarter in 2021, according to the report.
Meanwhile, the real GDP in fourth quarter grew by 1.5 percent compared to the third quarter of 2022.
The GASTAT report noted that this quarter-on-quarter rise in GDP was due to the growth in non-oil activities by 1.7 percent and government services activities by 0.5 percent.
The growth of oil activities, however, decreased by 0.3 percent in the fourth quarter of 2022 compared to the previous quarter.
Kingdom’s economy grew by 8.7 percent in 2022, compared to 3.2 percent recorded in 2021, driven by a growth in oil activities by 15.4 percent, according to GASTAT report.
