Saudi Private Sector Contracts, Hit By Covid-19
- Date: 13-Sep-2021
- Source: Al Bawaba
- Sector:Economy
- Country:Saudi Arabia
Saudi Private Sector Contracts, Hit By Covid-19
Saudi Arabia’s private sector recovery from the covid in Q2 has shrunk despite the oil output boost to the overall size of the economy, Bloomberg reported.
The private sector represented 48% of Saudi economic output, compared to 52% in the previous quarter.
However, it grew by 11 percent in Q2, compared to the same period last year, according to the latest figures from the General Authority for Statistics (Gastat).
Also, Saudi witnessed 8.4 percent growth in the non-oil sector, despite the fact that the oil sector shrank 6.9 percent complying with OPEC+ agreement.
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