Saudi Arabia’s real gross domestic product (GDP) grew by 3.4% year-on-year (YoY) in the first quarter of 2025, data issued by the General Authority for Statistics (GASTAT) showed.
GASTAT earlier announced it adopted the moving chain methodology in calculating the real GDP and issued the Q4 2023 bulletin based on the new methodology, transitioning from the traditional fixed base-year methodology.
The Moving chain methodology is a dynamic approach used to measure economic growth rates, specifically in estimating real growth rates for national accounts. This approach uses weights and prices from the year prior to the year of measurement to provide a measurement across contiguous time periods, accurately reflecting the current economic conditions of any country using this methodology.
Non-oil activities rose by 4.9% during the three-month period, while government activities grew by 3.2% YoY. On the other hand, oil activities fell 0.5% YoY.
|
GDP by Regulatory Sectors (Moving Chain Methodology) (SAR bln) |
|||
|
Sector |
Q1 2024 |
Q1 2025 |
Change |
|
Oil Activities |
299.04 |
297.70 |
(0.5%) |
|
Non-Oil Activities |
631.26 |
662.42 |
4.9% |
|
Government Activities |
167.16 |
172.48 |
3.2% |
|
Total Value Added |
1097.46 |
1134.02 |
3.3% |
|
Net Product Tax |
60.12 |
62.52 |
4.0% |
|
GDP |
1157.58 |
1196.54 |
3.4% |
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