Saudi GDP grows 11.8% year/year in Q2

DUBAI: Saudi Arabia’s gross domestic product rose by 11.8% in the second quarter compared with the same period in 2021, according to initial government estimates on Sunday, as the world’s top oil exporter benefits from higher energy prices.

Growth was largely driven by a 23.1% increase in oil activities, the General Authority for Statistics said, while non-oil activities expanded 5.4%.