Riyadh – Mubasher: Saudi Arabia's savings jumped 14.3% to SAR 239.38 billion year-on-year in the first quarter of 2018, from SAR 209.46 billion during Q1-17, General Authority for Statistics’ (GASTAT) data showed.
The kingdom's saving rate to the gross domestic product (GDP) surged 34.8% during Q1-18, compared to the prior-year period, GASTAT added.
Consumer spending increased by 6.7% to SAR 420.9 billion in the three-month period ended March, against SAR 394.37 billion during Q1-17.
Saudi GDP levelled up 8.8% to SAR 688.13 billion in Q1-18, from SAR 632.42 billion in the same period a year earlier.
In 2017, the GCC nation's savings amounted to SAR 776.6 billion, representing 30.3% of the GDP which reached SAR 2.57 billion during the same period.
