Riyadh – Mubasher: Saudi Arabia’s total savings jumped 24.3% year-on-year, or SAR 148.45 billion ($39.59 billion), in the first nine months of 2018, recording SAR 758.92 billion ($202.38 billion) from SAR 610.47 billion ($162.79 billion), according to the Saudi General Authority for Statistics’ (GASTAT) data.
The saving growth was attributed to a 30% rise, or SAR 63.8 billion, in savings during the third quarter of 2018, reaching SAR 277 billion, compared to SAR 213.2 billion in Q3-17, the Saudi central bank added.
The kingdom’s consuming expenses increased 8.8%, or SAR 106.87 billion, to more than SAR 1.32 trillion in the nine-month period ended last September, versus SAR 1.21 billion in the same period in 2017.
Consuming expenses grew SAR 27.31 billion, or 6.7%, to SAR 436.22 billion in Q3-18, compared to SAR 408.92 billion in the year-ago period.
Saudi gross domestic product (GDP) increased by SAR 257.8 billion, reaching SAR 2.157 trillion in the January-September period of 2018, against SAR 1.899 trillion in the corresponding period of 2017.
The GCC country’s GDP in constant prices reached SAR 2.625 trillion for the full fiscal year of 2018, up from SAR 2.568 trillion in 2017, while GDP in current prices rose 13.64% to SAR 2.934 trillion, from SAR 2.582 trillion.
