Wednesday, March 22

Saudi GDP grows by 6.8% in fourth quarter – flash estimates

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DUBAI — Saudi Arabia’s gross domestic product grew by 6.8% in the fourth quarter, bringing overall growth last year to 3.3%, official flash estimates showed on Thursday.

The growth was driven by a 10.8% rise in oil activities and a 5% increase in non-oil activities, the General Authority for Statistics said. Government services increased by 2.4%.

Quarter-on-quarter, seasonally adjusted real GDP grew by 1.6% in the fourth quarter, the authority said. (Reporting by Yousef Saba; Editing by Himani Sarkar)