Riyadh – Mubasher: The real gross domestic product (GDP) of Saudi Arabia grew by 1.5% in the second quarter (Q2) of 2021 compared to Q2-20, recording its first positive growth rate since the COVID-19 pandemic started.
The positive growth rate of the GDP was attributed to a 10.1% increase in non-oil activities as well as a rise of 0.7% in government activities, according to a report by the Saudi General Authority for Statistics (GaStat) on Monday.
Oil activities meanwhile posted an annual negative growth rate of 7% in Q2-21.
On a quarterly basis, the Kingdom’s seasonally adjusted real GDP growth rose by 1.1% in Q2-21 compared to Q1-21.
The quarter-on-quarter (QoQ) increase in GDP resulted from a rise in oil and non-oil activities by 2.5% and 1.3%, respectively, in Q2-21.
Government activities signalled a QoQ negative growth rate of 2.6% in Q2-21 compared to Q1-21.
