São Paulo – Saudi Arabia’s gross domestic product grew by 3.4% in the first quarter of this year compared to the same period last year. According to data released on Monday (9) by the General Authority for Statistics (GASTAT), the expansion was 1.1% compared to the last quarter of last year.
According to GASTAT, growth was driven by a 4.9% increase in non-oil activities and by a 3.2% increase in government activities. The oil sector’s GDP recorded a decline of 0.5% in the first quarter of this year compared to the first three months of 2024.
“The results also showed that non-oil activities are the main driver to the annual real GDP growth, contributing 2.8 percentage points,” said the statistics authority.
The sectors that recorded the greatest economic expansion were wholesale and retail trade, restaurants, and hotels. Compared to the same quarter last year, the expansion was 8.4%, and compared to the previous quarter, it was 0.7%.
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Translated by Guilherme Miranda
