The Saudi General Statistics Office released preliminary data on the economic performance of the Saudi economy in the last quarter of 2020.
The report of “quarterly Gross domestic product (GDP)” showed that Saudi Arabia’s economy shrank 3.8 percent in the fourth quarter of last year compared to the same period last year. But on a quarterly basis, it has grown 2.8 percent.
The Central Department of Statistics and Information’s “quick estimate” did not detail the performance of the oil and non-oil sectors in the three months to the end of December.
According to preliminary estimates, the economy of the world’s largest oil exporter in 2020 has shrunk by 4.1 percent as a result of the Coronavirus and falling oil prices and reduced production.
This news is originally published by Shafaqna Persian and translated by Shafaqna English
Tags Central Department of Statistics and Information Gross domestic product (GDP) Saudi Arabia
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