Tokyo, 8 September, /AJMEDIA/
Saudi Arabia’s real gross domestic product expanded by 12.2 percent in the second quarter compared with the same period of 2021, data showed on Wednesday, as the world’s top oil exporter reaps the rewards of high crude prices and a post-pandemic recovery, AJMEDIA reports citing Reuters.
The second quarter growth figure exceeded a flash government estimate at the end of July of 11.8 percent GDP growth. The economy grew 2.2 percent from the first quarter.
“The growth is mainly due to the high increase in oil activities by 22.9 percent y-o-y,” the General Authority for Statistics said. The oil economy grew 4.4 percent in the second quarter from the first quarter.
Non-oil activities rose by 8.2 percent on an annual basis and 4.5 percent from the first quarter. Government activities grew by 2.4 percent in the year to end-June, a 0.4 percent rise compared to the first quarter.
