Saudi Arabia’s Real GDP Grows by 3.9% In Q1 of 2023

Saudi Arabia’s real GDP increased by 3.9 percent during the first quarter of 2023 compared to the same period of the previous year.

According to flash estimates by the General Authority for Statistics (GASTAT), the non-oil activities achieved a positive growth of 5.8 percent in the first quarter compared to the same period of 2022.

Oil activities also achieved an increase of 1.3% compared to the same period of the previous year.

The seasonally adjusted real GDP decreased by 1.3% in the first quarter of 2023 compared to the previous quarter Q4/2022.

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