Saudi economy grows by 3.8% in Q1 supported by non-oil activities

Saudi Arabia’s real gross domestic product grew by 3.8 percent in the first quarter of 2023, driven by expansion in non-oil activities, according to a report released by the General Authority for Statistics (GASTAT) on Thursday.

The report showed that the non-oil activities increased by 5.4 percent in first quarter while oil activities grew by 1.4 percent and government service activity was up by 4.9 percent.

This reading is an adjustment to preliminary data released on May 7, showing Saudi Arabia’s GDP growing by 3.9 percent.