The General Authority for Statistics (GASTAT) has unveiled the report of GDP and National Accounts in the First Quarter of 2024, indicating a 3.4% growth in non-oil Activities during Q1 2024, reported Saudi Press Agency (SPA).
According to the report:
- The Kingdom’s GDP declined by 1.7 percent in the first quarter compared to the same quarter of the previous year.
- The seasonally adjusted real GDP grew by 1.4% compared to the previous quarter.
- Non-oil activities hiked by 3.4 percent year-on-year in the first quarter of 2024.
- Government activities also increased by 2.0% year-on-year.
- Non-oil activities currently contribute a significant 50% of the GDP.
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GASTAT: Saudi Industrial Production Marks 0.4% Increase in 2023
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