GDP Indicators witnessed a rise in all sectors in 2017 (Q2)
GaStat: GDP increased by 2.46% in a year
On Saturday, Muharram 10th,1439H (corresponding to September 30th,2017), GaStat issued the indicators of the Gross Domestic Product (GDP) for the second quarter of 2017 in the Kingdom of Saudi Arabia through its official website www.stats.gov.sa.
The GDP increased in value at current prices during the second quarter of 2017 by (2.46%) compared to the same period last year, while its value decreased by 1.03% in real terms. The government sector witnessed an increase in the GDP value for the second quarter of 2017 by (1.59%) at current prices and (0.99%) in real terms compared to the second quarter of 2016. The private sector, as one of the regulatory sectors of the GDP, also increased in value during the second quarter by (0.44%)at current prices and (0.38%) in real terms compared with the same period of the previous year (2016).
In addition, the oil sector also increased in its GDP value by (10.05%) at current prices, while it decreased by (1.76%) in real terms compared to the same period of the previous year (2016).
It is noteworthy to mention that the GDP indicators are quarterly GDP estimates at (current and constant) prices that show expenditure on GDP and measure the contribution of economic activities and different regulatory sectors. GaStat aims to regularly publish the indicators to provide updated quarterly estimates of GDP at current and constant prices, the contribution of economic activities and different regulatory sectors in the GDP, updated quarterly economic indicators such as GDP growth rates, relative contributions of economic activities and different regulatory sectors to the GDP and provide all this data to support decision and policy makers in various areas of development.