Saudi Arabia’s gross domestic product (GDP) declined by 0.53 percent to SAR 642.96 billion in the first quarter of 2017, compared to SAR 646.37 billion in the same period last year, according to the General Authority for Statistics.
The non-oil sector’s contribution to GDP rose 0.6 percent year-on-year (YoY) to SAR 368.47 billion.
Meanwhile, the oil sector’s contribution to GDP dropped by 2.3 percent to SAR 270.89 billion in Q1, compared to SAR 277.26 billion in the first quarter of last year. The sector’s contribution to GDP accounted for 42.13 percent of the Kingdom’s total GDP down from 42.89 percent last year.
|
GDP Per Sector for Q1-2017 |
||||
|
Sector |
Q1 2016 |
Q1 2017 |
Change |
|
|
Oil Sector |
277.26 |
270.89 |
(2.3%) |
|
|
Non-oil sector |
Public sector |
113.53 |
113.39 |
(0.1%) |
|
Private sector |
252.70 |
255.07 |
0.9%+ |
|
|
Total |
366.23 |
368.47 |
0.6%+ |
|
|
Oil and non-oil |
643.48 |
639.35 |
(0.6%) |
|
|
Import fees |
2.89 |
3.61 |
24.9%+ |
|
|
GDP |
646.37 |
642.96 |
(0.5%) |
|
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