| 29 February 2024, Thursday |

Saudi Arabia’s economy achieves highest growth rate since 2011: Govt data

Saudi Arabia’s GDP grew by 9.6% in the first quarter of 2022, the fastest rate in more than a decade, thanks to a comeback in the oil sector, according to preliminary government estimates released on Sunday.

According to the estimations, oil activity in Saudi Arabia climbed by 20.4 percent in the first quarter, while non-oil activity increased by 3.7 percent.

If the estimates are confirmed, they would mark the highest growth rate since 2011, the Saudi General Authority for Statistics said.

  • alarabiya