Saudi GDP grows 8.7% in 2022 due to oil, non-oil growth
One credit-rating agency said Saudi Arabia’s GDP growth will slow down in 2023.
![Delegations attend the 46th ordinary session of the Council of Arab Central Banks and Monetary Authorities Governors, Jeddah, Saudi Arabia, Sept. 18, 2022.](/sites/default/files/styles/article_hero_medium/public/2023-01/GettyImages-1243325563.jpg?h=a5ae579a&itok=Y3BiqcNR)
Saudi Arabia posted strong gross domestic product (GDP) numbers on Tuesday.
The Saudi General Authority for Statistics reported that the Saudi GDP grew by 8.7% in 2022 and 5.4% in the fourth quarter of the year. Saudi Arabia’s oil and non-oil sectors both contributed to the growth. Oil-related activities increased by 6.1%, and non-oil activities grew 6.2% throughout the year, the authority said in a press release.