Riyadh — According to official figures issued Monday on the official website www.stats.gov.sa the GDP of Saudi Arabia has recorded a positive growth rate for the first time since the start of the COVID-19 pandemic by (1.5%) in Q2/2021, compared to Q2 2020.
This positive growth rate is due to the increase in non-oil activities in the same period by (10.1%). In addition to the increase in government activities by (0.7%).
Seasonally adjusted real GDP recorded a positive growth rate of (1.1%) in Q2/2021, compared to the previous quarter (Q1 2021). While the seasonally adjusted real GDP of the non-oil activities recorded a positive growth of 1.3% in the same quarter.
The flash quarterly GDP estimate is the estimation process of the quarterly national accounts performed shortly after the end of the reference quarter.
These are the exact estimates that are made in the quarterly national accounts. But adopt simplified assumptions about the extrapolation of some indicators (monthly or quarterly). And many indicators are used related to production, expenditures, income, price, and foreign trade.
Decision-makers, academics, and researchers use flash estimates. Additionally, international organizations also use this seasonally adjusted data to make economic comparisons between countries.