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Saudi Arabia’s gross domestic product (GDP) grew by 1.8% to SAR 608.8 billion by the end of Q2 2021, compared to SAR 597.8 billion a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.
In August, the authority issued rapid estimates of the Kingdom’s GDP at constant prices, expecting a rise of 1.5% year-on-year (YoY) in Q2 2021.
The non-oil sector’s GDP rose 8.4% YoY to SAR 366.5 billion in the same period, contributing 60.2% to the Kingdom’s GDP.
On the other hand, the oil sector’s GDP declined 6.9% YoY to SAR 238.4 billion in Q2 2021. The sector contributed 39.2% to the GDP during the quarter, down from 42.8% in the same period last year.
|
Saudi Arabia’s GDP by Sector (SAR bln) |
||||
|
Sector |
Q2 2020 |
Q2 2021* |
Variation |
|
|
Oil |
256.04 |
238.36 |
(6.9%) |
|
|
Non-Oil |
Private Sector |
235.44 |
261.46 |
+11.1% |
|
Government Sector |
102.74 |
105.07 |
+2.3% |
|
|
Total |
338.17 |
366.53 |
+8.4% |
|
|
Oil and Non-Oil |
|
594.21 |
604.89 |
+1.8% |
|
Import Duties |
|
3.63 |
3.90 |
+7.4% |
|
GDP |
|
597.84 |
608.79 |
+1.8% |
*Preliminary data
The authority said that majority of economic activities witnessed growth in Q2 2021, except for crude oil and natural gas activities.
Community, social, and personal services activities recorded the highest growth rates during the period by 17.1%, followed by wholesale, retail trade, restaurants and hotels activities with a growth rate of 16.9%, and manufacturing industries except oil refining with 15.3%.
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