Private sector’s growth of 11.1% pushes GDP to 1.8% in Q2/2021

Private sector’s growth of 11.1% pushes GDP to 1.8% in Q2/2021

 The General Authority for Statistics (GASTAT) released Monday the Gross Domestic Product (GDP) and National Accounts report for the second quarter of 2021.

According to GASTAT’s estimates, the GDP increased by 1.8% in Q2 of 2021 compared to the same quarter of 2020.

This positive growth resulted mainly from the increase in the non-oil sector by 8.4%, whereas the private sector recorded a positive growth rate of 11.1%, and the government sector by 2.3%.

Compared to the previous quarter, seasonally adjusted GDP of Saudi Arabia recorded a growth of 0.6% compared to Q1/2021.

This increase resulted mainly from the increase in the oil sector by 2.4%.

According to the GASTAT, all economic activities in Q2 of 2021 recorded a positive growth rate compared to the same quarter of the previous year.