Riyadh City
Saudi Arabia’s gross domestic product (GDP) eased by 3.9% to SAR 658.11 billion by the end of Q4 2020, compared to SAR 684.96 billion a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.
In February, the authority issued rapid estimates of the Kingdom’s GDP at constant prices, expecting a decline by 3.8% year-on-year (YoY) in Q4 2020.
The oil sector’s GDP declined 9% YoY to SAR 254.98 billion in Q4 2020. The sector contributed 38.7% to the GDP during the quarter, down from 40.7% in the same period last year.
On the other hand, the non-oil sector’s GDP fell 1% YoY to SAR 398.2 billion in the same period, contributing 60.5% to the Kingdom’s GDP.
|
GDP By Regulatory Sectors at Constant Prices (SAR bln) |
||||
|
Sector |
Q4 2019 |
Q4 2020* |
Variation |
|
|
Oil Sector |
278.77 |
254.98 |
(8.5%) |
|
|
Non-Oil Sector |
Private Sector |
274.88 |
272.82 |
(0.8%) |
|
Public Sector |
126.63 |
125.38 |
(1.0%) |
|
|
Total |
401.51 |
398.20 |
(0.8%) |
|
|
Total oil & non-oil sectors |
|
680.29 |
653.18 |
(4.0%) |
|
Import fees |
|
4.67 |
4.93 |
+5.6% |
|
GDP |
|
684.96 |
658.11 |
(3.9%) |
* Initial data.
The authority said imputed bank services activities achieved the highest growth rates during the fourth quarter of 2020, reaching 4.7%, followed by agriculture activities with a growth rate of 3.6%, and financial, insurance and business service activities by 1.9%.
However, other mining and quarrying activities recorded the largest decrease during the period by 9.5%, followed by the transportation, storage and communication activity by 5.8%, then the community, social and personal services activities by 2.1%.
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