Saudi economy swells 5% in third quarter
Saudi Arabia’s economy grew 5% in the third quarter of the year, due to all-round growth in oil and non-oil activities.
Oil activities were the main driver powering the kingdom seasonally adjusted real gross domestic product (GDP) through the July-September period, growing 8.2% year-on-year, according to flash estimates issued by Saudi Arabia’s General Authority for Statistics (GASTAT). Seasonally adjusted real GDP grew 1.4% quarter-on-quarter.
However, non-oil activities drove real GDP growth, rising 4.5%, and contributing 2.6 percentage points. This was accompanied by a 1.8% rise in government activities.
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