Saudi GDP grew 3.2% in 2021, highest in seven years

Saudi economic progress includes growth in the non-oil sector, as foreign direct investment moves more slowly.
Saudi Crown Prince Mohammed bin Salman (R) and Bahrain's Crown Prince Salman bin Hamad al-Khalifa.
A giant screen displays images of Saudi Crown Prince Mohammed bin Salman (R) and Bahrain's Crown Prince Salman bin Hamad al-Khalifa participating in a session at the annual Future Investment Initiative (FII) conference in the Saudi capital, Riyadh, on Oct. 26, 2021. - FAYEZ NURELDINE/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Saudi Arabia reported today that its gross domestic product (GDP) grew 3.2% for 2021. 

The growth was aided by a strong finish to the year, with Saudi GDP rising 6.7% in the fourth quarter of 2021, compared to the same period in 2020. The growth on the year was due to both the oil and non-oil sectors, and the latter increased 5.1% in the fourth quarter of 2021, the Saudi General Authority for Statistics said in a report. 

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