Saudi GDP grows 1.5% in Q2 2021 on non-oil sector rebound

09/08/2021 Argaam Special

The Kingdom of Saudi Arabia's flag


Saudi Arabia’s gross domestic product (GDP) rose by 1.5% year-on-year (YoY) by the end of Q2 2021, data issued by the General Authority for Statistics (GASTAT) showed.

 

This positive growth is the first since the start of the COVID-19 pandemic, the authority said.

 

It further attributed the growth to the increase in non-oil activities by 10.1%, in addition to the 0.7% rise in government activities, while oil activities witnessed a decrease of 7%. 

 

The seasonally adjusted real GDP increased by 1.1% quarter-on-quarter (QoQ) in Q2 2021.

 

As of Q3 2020, GASTAT began publishing flash quarterly GDP estimates to provide timely information on the Saudi economy to decision makers and users.

 

Real GDP and GDP Growth Rates, with Seasonal Adjustments*

Period

QoQ (With Seasonal Adjustments)

YoY

Q1 2018

+1.4%

+1.4%

Q2

+1.0%

+1.6%

Q3

+1.0%

+2.4%

Q4

+0.5%

+4.3%

Q1 2019

(0.9%)

+1.7%

Q2

+0.1%

+0.5%

Q3

(0.2%)

(0.5%)

Q4

+0.3%

(0.3%)

Q1 2020

(1.6%)

(1.0%)

Q2

(5.5%)

(7.0%)

Q3

+2.1%

(4.6%)

Q4

+1.8%

(3.9%)

Q1 2021

(0.5%)

(3.0%)

Q2 

+1.1%

+1.5%

* Updated data.

 

 

GDP Growth rate in Q2 2021

Sector

Q1 2021

Q2 2021

Oil Sector

+2.5%

(7.0%)

Non-Oil Sector

+1.3%

+10.1%

Governmental Services

 

(2.6%)

+0.7%

GDP

 

+1.1%

+1.5%

 

 

For more data, visit Argaam Tools

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