Economy Growth in Saudi Arabia by 8.7% in 2022

According to flash estimates published by the General Authority for Statistics (GASTAT) on its official website on Tuesday, Saudi Arabia's GDP expanded by 8.7% in 2022 in comparison to the previous year.

The analysis, which is available at www.stats.gov.sa, the real GDP from oil-related activities increased by 6.1% in the fourth quarter of 2022 compared to the same period in 2021. Compared to 2021, the real GDP of oil-related activities increased by 15.4% in 2022. In comparison to the same quarter last year, the real GDP from non-oil activities increased by 6.2%. In comparison to the previous year, 2021, the real GDP of non-oil activities increased by 5.4% in 2022.

The report's findings state that the real GDP increased by 5.4% in the fourth quarter of 2022 compared to the same period in 2021 and by 8.7% overall. Compared to several other economies in the region, Saudi Arabia's GDP is growing fairly quickly.

In Saudi Arabia, GASTAT is the only recognized source for statistical data and information. In addition to overseeing the technical aspects of the statistical sector, it completes all statistical work.

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