Saudi Arabia’s economy grows 11.8% in second quarter amid higher oil prices – The National

Saudi Arabia’s economy grows 11.8% in second quarter amid higher oil prices – The National

Saudi Arabia’s economy grew 11.8 per cent in the second quarter of 2022 amid increased activity in the oil sector, the latest government data shows.

Oil-related economic activity in the kingdom rose 23.1 per cent annually during the three months to the end of June, while non-oil economic activity grew 5.4 per cent during the period, a flash estimate released by the kingdom’s General Authority for Statistics (Gastat) on Sunday found.

Government services activities also increased 2.2 per cent during the period, supporting the growth of the Arab world’s largest economy.