Saudi GDP rises 11.8% in Q2 2022 at highest growth rate since 2011

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Saudi Arabia’s real gross domestic product (GDP) rose by 11.8% year-on-year (YoY) in Q2 2022, the highest since Q3 2011 when it reached 13.6%, data issued by the General Authority for Statistics (GASTAT) showed.

The economic growth was driven by a significant increase in oil activities by 23.1% YoY and 5.4% rise in non-oil activities. Meanwhile, government activities increased by 2.2% YoY.

Compared to Q1 2022, real GDP achieved growth of 1.8%.

The table below indicates Saudi GDP growth since 2018:

GDP, Real GDP Growth Rates With Seasonal Adjustment
Period	On a quarterly basis with seasonal adjustment	On an annual basis
Q1 2018	+1.4%	+1.4%
Q2 2018	+1.0%	+1.6%
Q3 2018	+1.0%	+2.4%
Q4 2018	+0.5%	+4.3%
Q1 2019	(0.9%)	+1.7%
Q2 2019	+0.1%	+0.5%
Q3 2019	(0.2%)	(0.5%)
Q4 2019	+0.3%	(0.3%)
Q1 2020	(1.3%)	(1.1%)
Q2 2020	(4.8%)	(7.2%)
Q3 2020	+0.7%	(4.5%)
Q4 2020	+2.1%	(3.8%)
Q1 2021	(1.1%)	(2.6%)
Q2 2021	+0.2%	+1.9%
Q3 2021	+5.7%	+7.0%
Q4 2021	+1.6%	+6.7%
Q1 2022	+2.6%	+9.9%
Q2 2022	+1.8%	+11.8%

The below table indicates the details of GDP growth in Q2 2022:

GDP By Economic Activity in Q2 2022
Sector	Q1 2021	Q1 2022	Change
Oil activities	+ 4.8%	+23.1%	+4.8%
Non-oil activities	(0.4%)	+5.4%	(0.4 %)
Government activities	+0.2%	+2.2%	+0.2%
GDP	+1.8%	+11.8%	+1.8%

Details and historical data for Macro Economy

Economic Reports

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