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Saudi Arabia’s real gross domestic product (GDP) rose 8.6% year-on-year (YoY) in the third quarter of 2022, data issued by the General Authority for Statistics (GASTAT) showed.
GASTAT added that this economic growth was primarily driven by the pick-up in oil activities at 14.5% YoY.
Non-oil activities grew by 5.6% YoY. Government activities rose by 2.4% YoY.
GASTAT started publishing flash estimates of the quarterly GDP as of Q3 2020, in order to provide timely information on the Saudi economy for decision-makers.
The following table shows Saudi Arabia's GDP performance since 2018:
|
GDP, Real GDP Growth Rates with Seasonal Amendments |
||
|
Period |
QoQ |
YoY |
|
Q1 2018 |
+ 1.4 % |
+ 1.4 % |
|
Q2 2018 |
+ 1.0 % |
+ 1.6 % |
|
Q3 2018 |
+ 1.0 % |
+ 2.4 % |
|
Q4 2018 |
+ 0.5 % |
+ 4.3 % |
|
Q1 2019 |
(0.9%) |
+ 1.7 % |
|
Q2 2019 |
+ 0.1 % |
+ 0.5 % |
|
Q3 2019 |
(0.2%) |
(0.5%) |
|
Q4 2019 |
+ 0.3 % |
(0.3%) |
|
Q1 2020 |
(1.3%) |
(1.1%) |
|
Q2 2020 |
(4.8%) |
(7.2%) |
|
Q3 2020 |
+ 0.7 % |
(4.5%) |
|
Q4 2020 |
+ 2.1 % |
(3.8%) |
|
Q1 2021 |
(1.1%) |
(2.6%) |
|
Q2 2021 |
+ 0.2 % |
+ 1.9 % |
|
Q3 2021 |
+ 5.7 % |
+ 7.0 % |
|
Q4 2021 |
+ 1.6 % |
+ 6.7 % |
|
Q1 2022 |
+2.6% |
+9.9% |
|
Q2 2022 |
+2.2% |
12.2% |
|
Q3 2022 |
+2.6% |
8.6% |
* Includes seasonal adjustments.
The following table shows details of Saudi Arabia's GDP in Q3 2022:
|
GDP by Economic Activity in Q3 2022 |
||
|
Activity |
QoQ* |
YoY |
|
Oil activities |
+5.8% |
+14.5% |
|
Non-oil activities |
+0.2% |
+5.6% |
|
Government activities |
+1.1% |
+2.4% |
|
GDP |
+2.6% |
+8.6% |
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