Saudi Arabia’s General Authority for Statistics revealed that Saudi Arabia's gross domestic product expanded by 2.5 percent in the fourth quarter of 2020.
The Kingdom's non-oil economy expanded 2.4 percent in the final quarter last year, the data showed. Saudi Arabia's oil economy grew by 2.6 percent in the same period.
The non-oil private sector in the Arab world's biggest economy expanded by 3.2 percent quarter-on-quarter, while the government sector grew by 0.6 percent during that time.
Saudi Arabia’s economy shrank 3.9 percent year on year in Q4 after the oil sector contracted by 8.5 percent and the non-oil sector by 0.8 percent from the same period of 2019.
The Kingdom’s GDP at current prices reached SAR658 billion ($175.4 billion) in the fourth quarter of 2020. The GDP of the oil sector dropped to SAR255 billion, and the non-oil sector to SAR398.2 billion.
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