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 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.
