Saudi economy rises 3.79% in Q2 of 2015

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Saudi economy rises 3.79% in Q2 of 2015

Saudi economy rises 3.79% in Q2 of 2015

(Riyadh) – The Saudi Arabian Kingdom’s Gross Domestic Product, GDP, achieved during the second quarter of 2015 rose in value in real terms by 3.79%, reaching SR 617,880 million compared to 595,312 million riyals for the same quarter of the previous year, and at current prices, its value fell by 11.93% and amounted to SR 631,028 million.
A report recently released by the Department of General Statistics and Information, and carried by Saudi Press Agency, showed that according to the organisational sectors of the Saudi economy, the private sector recorded a rise in its value in real terms by 3.09% in the second quarter of this year, and at current prices traded higher in value by 5.28%, rising to SR 293,185 million compared to SR 278,494 million in the corresponding quarter of the previous year.
Electricity and gas activity and water witnessed the biggest increase among the activities of this sector, where the value at current prices increased by 11.20% in comparison with the corresponding period of the previous year, and the value of gross domestic product of the oil sector decreased at current prices during the second quarter of this year by 39.07%, while its real value prices rose at the rate of 5.1%, compared with its value during the same period of the previous year.
The GDP of the government sector also achieved a rise in its value in real terms by 3.04% during the second quarter while its current prices increased by 22.6%, rising to SR 138,034 million compared to SR112,585 million in the same period of the previous year.
The report showed that the value of oil exports at current prices decreased by 41.74%, and the value of commodity imports at current prices fell by 9.64% compared with the corresponding period of the previous year.
(Courtesy WAM)