Saudi Arabia’s real gross domestic product (GDP) in the second quarter of 2021 recorded positive growth for the first time since the start of the COVID-19 pandemic by 1.5%, compared to the same period in 2020, according to flash estimates released today by the General Authority for Statistics.

According to the Authority, this positive growth is attributed to a 10.1% increase in non-oil activities during the same period, in addition to a 0.7% increase in government activities.
Compared to the first quarter of 2021, seasonally adjusted real GDP achieved positive growth of 1.1% during the second quarter of 2021, while real GDP for non-oil activities, seasonally adjusted, recorded positive growth of 1.3% during the same quarter.
The General Authority for Statistics explained that the flash estimates of quarterly GDP are an estimation of the quarterly national accounts conducted shortly after the end of the reference quarter, and are published 40 days after the end of the reference quarter when data for that quarter are still incomplete. These are the same estimates used in the quarterly national accounts, but they employ simplified assumptions regarding the extrapolation of certain indicators (monthly or quarterly), A wide range of indicators related to output, expenditure, income, prices, and foreign trade are used. Flash estimates of quarterly GDP cover the entire national economy and are presented without any breakdown by sector or economic activity.
Flash estimates are used by policymakers, academics, and researchers who wish to gain a long-term outlook on GDP data for economic activities, In addition, international organizations use seasonally adjusted data to conduct economic comparisons among countries worldwide.
It should be noted that the General Authority for Statistics is the sole official statistical authority for statistical data and information in the Kingdom, and it carries out all statistical work, provides technical oversight of the statistical sector, designs and conducts field surveys, performs statistical studies and research, analyzes data and information, as well as all activities related to documenting, preserving, recording, classifying, and analyzing statistical information and data covering all aspects of life in the Kingdom from various sources, and deriving statistical indicators from them.