Saudi Arabia’s economy recorded a year-on-year growth of 3.4% in the first quarter of 2025, as opposed to the initial estimate of 2.7%. However, this represents a slowdown from the 4.4% growth experienced in the previous quarter. This period marks the slowest expansion in three quarters, primarily due to a decrease in oil activity, with figures registering a decline of 0.5% compared to a 3.5% rise in Q4. Conversely, there was an acceleration in growth within non-oil sectors, which grew by 4.9% from 4.8%, and government services expanded by 3.2% compared to 1.7%. Among different economic sectors, manufacturing exhibited a notable slowdown with an output growth of 4% from 7%, and construction showed a growth of 3.2% down from 4.1%. Additionally, production in mining and quarrying experienced a decline of 1.4% compared to a previous increase of 0.7%. On the other hand, agriculture, forestry, and fishing sectors showed an improvement, growing by 3.3% compared to 3% in the preceding quarter. On a seasonally adjusted quarterly basis, the GDP rose by 1.1%, marking the fastest growth rate since Q1 2024, and an increase from the 0.9% expansion observed in Q4.
The material has been provided by InstaForex Company – www.instaforex.com
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