Riyadh - Mubasher: Saudi Arabia's gross domestic product (GDP) per capita slid by 5.7% year-on-year (YoY) during the first quarter (Q1) of 2020.
The GDP per capita amounted to SAR 19,980 in the first three months of 2020 when compared to SAR 21,190 in Q1-19, data by the General Authority for Statistics (GaStat) showed.
On a quarterly basis, the GDP per capita was down by 10.37%.
Moreover, the Saudi population reached 34.81 million by the end of March 2020, up from 33.91 million in the same period a year earlier.
According to official data, gross savings came at SAR 211.8 billion in Q1-20, 17.2% less than the same quarter of 2019.
Additionally, the gross saving ratio to GDP dropped to 30.4% in Q1-20 from 35.6% in the year-ago period.
It is noteworthy that the kingdom’s GDP at constant prices fell by 1% during Q1-20, compared with a 1.7% growth rate in Q1-19.
