Saudi Arabia’s GDP rose by 8.7% in 2022. The highest growth rate among G20 nations. According to a study released by the General Administration for Statistics.
The study was cited by the Xinhua news agency as adding that the increase above the maximum 8.3% international estimate & was the greatest yearly rate in the kingdom in the previous ten years.
They claimed that in 2022. The Saudi GDP will surpass 1 trillion dollar for the 1st time in the country’s history at the present exchange rate.
The natural gas & crude oil sector contributed 32.7% to growth, followed by govt services (14.2%), manufacturing activities other than oil refining (8.6%), wholesale and retail commerce, restaurants, & manufacturing activities & hotels (8.2%).
According to the research, non-oil activities will rise by 5.4% in 2022, with the biggest growth rate coming from the transportation, storage. And communications sector at 9.1%, followed by production process other than oil refining at 7.7%.-Saudi Arabia