Saudi Arabia economy grew 3.9pc in Q1

DUBAI: Saudi Arabia’s economy grew by 3.9% year-on-year in the first quarter of 2023, according to initial government estimates of real gross domestic product published on Sunday.

Non-oil activities grew by 5.8% in the first quarter from a year prior, the General Authority for Statistics said, citing flash estimates, while oil activities grew by 1.3%. Government services activities grew by 4.9%, it said.

However growth slowed compared to the fourth quarter of 2022, when GDP grew 5.5% year-on-year.