Riyadh – Mubasher: The real gross domestic product (GDP) growth of Saudi Arabia increased by 7% year-on-year (YoY) during the third quarter (Q3) of 2021, according to official data on Tuesday.
On a quarterly basis, the Kingdom’s economic growth was up 5.7% in Q3-21 when compared to Q2-21.
Saudi Arabia’s real GDP growth was mainly backed by oil activities, which soared by 9.3% YoY and 12.7% quarter-on-quarter (QoQ) in Q3-21.
Non-oil activities also rose by 6.3% YoY and 2.6% QoQ in July-September 2021, while government activities went up by 2.7% on an annual basis and by 1.1% compared to Q2-21, according to estimates of the General Authority for Statistics (GaStat).
The GDP of Saudi Arabia amounted to SAR 820.14 billion at current prices during Q3-21, of which non-oil activities represented 48.4%, oil activities formed 32.9%, and government activities contributed 18.7%.
GDP per Capita
The Kingdom’s GDP per capita, which shows a country's GDP divided by its total population, amounted to SAR 22,883 in Q3-21, up 19.8% from Q3-20 and by 11% from Q2-21.
Activities’ Contribution to GDP
Crude petroleum and natural gas activities acquired the highest contribution of 26.6%, followed by government services activities with 17.4%.
Constant Prices
In terms of constant prices, all economic activities indicated a positive annual growth in Q3-21, with petroleum refining activities recording the highest growth rates of 19.2% YoY and 1.4% QoQ.
