Riyadh - Mubasher: Saudi Arabia’s Gross Domestic Product (GDP) value in current prices went up by 10.12% in the first quarter of 2017 to SAR 642.145 million compared to SAR 583.112 million SAR in Q1-16, said the Saudi General Authority for Statistics (GASTAT).
In a recent report the authority revealed that in constant prices, the GDP recorded SAR 642.963 million, decreasing by 0.53% compared to its value in the same period of previous year which stood at SAR 646.372 million.
The the government sector GDP in current prices registered SAR 134.828 million, with a decline of 9.40% down from its value in Q1-16 at SAR 148.81 million.
As for constant prices, it slipped 0.12% to SAR 113.39 million from SAR 113.525 million in Q1-16.
Meanwhile, the private sector GDP increased in both current and constant prices. In current prices, it reached SAR 316.395 million, growing 1.19% compared to its value in the same period of 2016 which was SAR 312.663 million, and it also increased by 0.94% in constant prices to SAR 255.07 million from SAR 252.699 million.
The oil sector GDP in current prices surged 57.86% to SAR 186.385 million compared to the same period of previous year which it was SAR 118.073 million, and on the contrary it decreased in constant prices by 2.30% to SAR 270.888 million in Q1-17 compared to SAR 277.256 million in the same period of the year before.
