Complex Made Simple

Saudi Arabia’s GDP increases by 3.8 per cent in Q2

Electricity, water and gas witnessed the biggest increase among all sectors

The Saudi GDP achieved an increase in its value by 3.79 per cent during the second quarter of 2015.

The value of Saudi’s GDP in real terms is estimated at SAR617.88 million, compared with SAR595.31m in Q2 of 2014, while in current prices, its value declined by 11.93 per cent, estimated at SAR631.03m, UAE-based Al Arabiya reports.

A report recently issued by the Central Department of Statistics and Information revealed that the private sector recorded an increase in its value in real terms by 3.09 per cent during the second quarter of 2015 and in current prices by 5.28 per cent as it rose to SAR293.18m, compared with SAR278.49m in the second quarter of 2014.

Electricity, water and gas witnessed the biggest increase among all sectors, when its value in current prices rose by 11.20 per cent, compared with the same period of 2014.

The oil sector’s GDP value in current prices declined by 39.07 per cent during the second quarter of 2015, while its value in real terms rose by 5.1 per cent, compared with the same period in 2014.

The government sector’s GDP achieved an increase in its real term value in by 3.04 per cent during the second quarter, while it achieved in real terms an increase of 22.6 per cent, rising to SAR138.03m, compared with SAR112.58m during the same period in 2014.

The report reveals that oil exports in current prices declined by 41.74 per cent and the value of commodity imports in current prices declined by 9.64 per cent, compared with the same period in 2014.

(SAR1 = AED0.98, at the time of publishing)