Saudi Arabia’s non-oil economy grows 3.3% in Q1 2021

Saudi Arabia’s non-oil economy grows 3.3% in Q1 2021

RIYADH — The General Authority for Statistics (GASTAT) published on Monday the flash estimates of the real Gross Domestic Product (GDP) growth rate for the first quarter (Q1) of 2021. According to the GASTAT, the seasonally adjusted real GDP of non-oil activities and government service activities recorded a positive growth of 4.0 percent, compared to the fourth quarter of 2020. On the other hand, the year-on-year change of non-oil activities reached a positive growth of 3.3 percent. The flash estimates for Quarterly GDP provide more timely information on the Saudi economy to decision-makers and users for economic activities. Moreover, international organizations use seasonally adjusted data to make economic comparisons between countries. — SG