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Saudi GDP quarterly growth rate reaches 10-year high

Saudi Arabia is investing in several sectors in its bid to diversify the economy, but oil remains a major driver of growth.
Saudi economy

Saudi Arabia’s gross domestic product (GDP) grew significantly in the second quarter of 2022.

The Saudi General Authority for Statistics said that GDP increased 12.2% in the second quarter, compared to the same period last year. GDP also increased 2.2% from the first to the second quarter this year. The yearly increase was the biggest since 2011, the authority said in a release. 

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