Saudi Arabia’s gross domestic product (GDP) saw a marginal rise by 0.3% year-on-year (YoY) to SAR 2.639 trillion in 2019, according to recent data by the General Authority for Statistics (GASTAT).
The increase in GDP is attributed to the growth of several sectors including retail, restaurants, hotels, finance, insurance, business services, transport, storage and telecommunication.
The non-oil sector’s GDP increased 3.3% YoY in 2019 due to 3.8% growth in the private sector.
On the other hand, the oil sector’s GDP edged down 3.6% YoY by the end of 2019, accounting for around 41.5% of total GDP.
|
Saudi Arabia’s GDP 2019 (bln) |
||||
|
Sector |
2018 |
2019 |
Variation |
|
|
Oil Sector |
1137.65 |
1096.17 |
(3.6%) |
|
|
Non-Oil Sector |
Private Sector |
1034.64 |
1073.74 |
+3.8% |
|
Public Sector |
443.79 |
453.56 |
+2.2% |
|
|
Total |
1478.42 |
1527.30 |
+3.3% |
|
|
GDP excl. import fees |
2616.07 |
2623.47 |
+0.3% |
|
|
Import fees |
15.02 |
16.34 |
+8.8% |
|
|
GDP |
2631.09 |
2639.81 |
+0.3% |
|
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