Riyadh – Mubasher: Non-oil economy in Saudi Arabia grew by 4.33% in the third quarter (Q3) of 2019, compared with 1.98% in Q3-18, figures by the General Authority for Statistics (GaStat) showed.
The growth of the non-oil gross domestic product (GDP) was supported by the private sector non-oil business growing by 4.22%, while the government non-oil activity increased by 4.6% during the three-month period ending 30 September 2019.
Meanwhile, the kingdom’s GDP contracted by 0.46% during Q3-19, versus a growth rate of 2.45% in the corresponding period last year.
This came on the back of a decline in the oil sector by 6.43%, against a 3.64% growth in the same period of 2018.
Saudi GDP reached a total of SAR 651.39 billion in Q3-19, compared with SAR 654.37 billion in Q3-18.
