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Headline : Non-oil Activities Reached 50% of Saudi Arabia’s Real GDP in 2023

Read more from the original article on here at www.dubaichronicle.com.




Tags : #nonoil #activities #reached #5025 #saudi #arabias #real #gdp #2023


No. of Paragraph 10

Non-oil activities in the Kingdom recorded their highest contribution to the Real GDP during the year 2023 at 50%, which is the highest historical level ever reached, based on the Ministry of Economy and Planning’s analysis of data issued by the General Authority for Statistics.

The Kingdom’s non-oil economy reached SAR 1.7 trillion, driven by continued growth in investment, consumption, and exports.

The historic non-oil GDP rate was achieved due to an unprecedented performance in real non-government investment during the last two years with a growth rate of 57%, bringing the value of non-government investments to its highest historical level at SAR 959 billion in 2023.

Furthermore, the arts and entertainment sectors came at the forefront of activities that achieved exceptional growth of 106% during 2021/2022, while other activities grew robustly such as food & accommodation at 77%, and transportation and communications at 29%.

Read more from the original article on here at www.dubaichronicle.com.


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