Saudi Arabia’s real GDP grows by 6.8 percent in Q3 of 2021

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Saudi Arabia’s real GDP grew by 6.8 percent in Q3 of 2021, compared to the same quarter in 2020, according to data by Saudi Arabia’s General Authority for Statistics (GASTAT).

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“This positive growth was due to the high increase in oil activities by 9.0 percent as a result of rising world demand for crude oil and the increase of Saudi production in 2021,” the official Saudi Press Agency (SPA) reported, citing data.

According to GASTAT, non-oil activities in the Kingdom increased by 6.2 percent and government activities increased by 2.7 percent year-on-year.

The seasonally adjusted quarterly real GDP grew by 5.8 percent in Q3 of 2021, compared to the previous quarter, SPA added.

“The flash estimates of quarterly GDP are calculated on the basis of estimates of quarterly national accounts with a short delay compared to the end of the reference quarter,” the press agency reported.

SPA, citing GASTAT, added that the information and data relative to the most recent quarter is still “partial and therefore subject to a relatively high level of approximation.”

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