Saudi GDP grows by 6.8% in fourth quarter - flash estimates | Reuters
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 quarter's 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%.
"The increase in oil production is being reflected in the 4Q GDP data, and is supporting real oil sector growth. We see this trend continuing in 2022 as oil output rises further," said Monica Malik, chief economist at Abu Dhabi Commercial Bank.
Quarter-on-quarter, seasonally adjusted real GDP grew by 1.6% in the fourth quarter, the authority said.
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