Saudi-Arabien BIP Veränderung zum Vorjahr

Saudi Arabia’s GDP expanded 2.8% yoy in Q3 of 2024, in line with preliminary estimates, rebounding from a 0.3% contraction in Q2. This marked the first economic growth since the second quarter of 2023, primarily driven by a slight recovery in oil activities (0.05% vs -8.9% in Q2). Meanwhile, non-oil activities (4.3% vs 4.9%) and government activities (3.1% vs 3.6%) continued to expand but at a softer pace. By sector, mining & quarrying edged up 0.1% after plunging 11.5% in Q2) while agriculture, forestry & fishing grew faster (3.4% vs 2.2%) and wholesale & retail trade continued to rise (5.8% vs 6.8%). On the expenditure side, exports (3.0% vs -5.8%) and imports (7.3% vs -0.9%) rebounded amid faster rises in household spending (3.9% vs 2.8%) and fixed investment (4.5% vs 3.2%). Meanwhile, government spending continued to grow (6.2% vs 10.9%). On a seasonally adjusted quarterly basis, the GDP advanced by 0.9% in Q3, easing from a 1.4% gain in the previous two quarters.