Riyadh – Mubasher: Saudi Arabia's real gross domestic product (GDP) grew by 9.6% year-on-year (YoY) in the first quarter (Q1) of 2022, marking its highest level in the last ten years.

This performance is driven by a rise in oil activities by 20.4%, non-oil activities by 3.7%, and government services activities by 2.4%, according to the latest statistics of the Saudi General Authority for Statistics (GASTAT).

Meanwhile, the Kingdom's seasonally adjusted real GDP increased by 2.2% quarter-on-quarter (QoQ) in Q1-22, attributed to the growth in oil activities by 2.9% and non-oil activities increased by 2.5%.

The government services activities decreased by 0.9% in the first three months (3M) of 2022.