Riyadh – Mubasher: Saudi Arabia's gross savings increased by 8.6% to SAR 214.04 billion in the third quarter of 2017, from SAR 197.12 billion in the same period a year earlier, the General Authority for Statistics (GASTAT) said in a report on Wednesday.
The kingdom’s saving to gross domestic product (GDP) jumped 33.4% in Q3-17, compared to the corresponding period last year, the GASTAT added.
In the first nine months in 2017, the nation's gross savings hit SAR 637.76 billion, which accounts for 33.6% of the GDP.
The Saudi consumer spending increased 5.3% to SAR 408.92 billion in Q3-17, compared to SAR 388.42 billion during Q3-16.
The kingdom’s net foreign income decreased to SAR 15.44 billion in Q3-17, from SAR 15.98 billion in the corresponding period the year before.
External transfers declined by SAR 32.47 billion during Q3-17, compared to SAR 35.51 billion in the same period in the previous year.
Saudi GDP amounted to SAR 639.98 billion in Q3-17, compared to SAR 605.08 billion in Q3-16, while national income rose to SAR 655.42 billion up from SAR 621.02 billion.
