Saudi Economy Grows 8.7 Percent in 2022
The growth exceeded the international expectation of 8.3 percent as the maximum, and it is the kingdom's highest annual rate in the last decade, reported the SPA, citing a report issued by the General Authority for Statistics.
It said the Saudi GDP reached, at the current exchange rate, more than 1 trillion US dollars in 2022, for the first time in the Saudi history.
The contribution to the growth by the crude oil and natural gas sector reached 32.7 percent, followed by government services, 14.2 percent, manufacturing activities except oil refining, 8.6 percent, and wholesale and retail trade, restaurants and hotels, 8.2 percent.
The report revealed a 5.4-percent growth in non-oil activities in 2022, with the sector of transportation, storage and communications reaching the highest growth rate of 9.1 percent, followed by manufacturing activities except oil refining, 7.7 percent.
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