Riyadh – Mubasher: Saudi Arabia's gross domestic product (GDP) in constant prices rose 2.47% in the third quarter of 2018, against a 0.33% decline in the year-ago period, the General Authority for Statistics (GASTAT) reported.
The kingdom’s GDP in constant prices amounted to SAR 653.71 billion ($174.28 billion) by the end of Q3-18, up from SAR 637.96 billion ($170.08 billion) during Q3-17, the data showed.
Meanwhile, the oil sector in constant prices registered a 3.65% growth to SAR 289.88 billion from July to September, against a 4.06% drop in the same months last year, when it had reached SAR 279.68 billion. Moreover, the non-oil industry slowed to 2.05% year-on-year in Q3-18 to SAR 359.92 billion, compared to a rise of 2.28% seen in Q3-17, when non-oil GDP in constant prices stood at SAR 352.69 billion.
Meanwhile, the private sector’s growth reached 2% during Q3-18, slowing down from 2.15% in Q3-17, while the public sector’s growth also eased to 2.18%, compared to 2.65%.
Saudi GDP in current prices recorded a 14.7% rise to SAR 736.1 billion in Q3-18, up from a 6.1% increase to SAR 641.69 billion in the same period of 2017.
