GASTAT: Saudi GDP records 1.1% growth in 2Q 2023

Saudi Gazette report

RIYADH — The real gross domestic product (GDP) of Saudi Arabia recorded a growth of 1.1 percent in the second quarter of 2023, compared to the same period of 2022, according to the latest figures released by the General Authority for Statistics (GASTAT).

The GDP estimates for the second quarter of 2023 showed a 5.5 percent increase in non-oil activities in Q2 of this year while compared to the same period of last year, and a 4.2 percent decrease in oil activities compared to second quarter of 2022, the Saudi Press Agency reported.

The seasonally adjusted real GDP posted a decrease of 0.1 percent in the second quarter of the current year compared to the previous quarter.

GASTAT is the only official reference for statistical data and information in Saudi Arabia. It carries out all statistical work, as well as the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, and documents and archives all works containing information and statistical data on all aspects of life in Saudi Arabia. It gathers, classifies and analyzes data, and extracts indicators from it.