Today: 16 June 2025
9 September 2024
1 min read

Saudi GDP Slips

The fall is mainly due to an 8.9-per cent year-on-year drop in oil activities during the period….reports Asian Lite News

Saudi Arabia announced on Sunday a 0.3-per cent year-on-year decrease in real gross domestic product (GDP) for the second quarter of 2024, mainly due to an 8.9-per cent year-on-year drop in oil activities during the period.

The findings were part of a report released by the country’s General Authority for Statistics, which also showed that the kingdom’s seasonally adjusted real GDP grew by 1.4 per cent compared to the previous quarter.

According to the report, non-oil activities continued their upward trend, expanding by 4.9 per cent year-on-year, while government activities rose by 3.6 per cent year-on-year, Xinhua news agency reported.

In particular, electricity, gas and water activities achieved the highest growth rate in the second quarter, hitting 8.9 per cent year-on-year, the report showed.

ALSO READ: FDI in Saudi Arabia rises to US$215 billion

Previous Story

Wyndham Eyes India Expansion

Next Story

Rajnath urges PoK residents to join India

Latest from -Top News

Israel Takes Out Iran Spy Leaders

Among those killed were Mohammad Khatami, head of the IRGC Intelligence Organisation since 2022, and his deputy Mohammad Hassan Mahkaghi….reports Asian Lite News Israel on Monday announced that four high-ranking Iranian intelligence

Iran May Quit Nuclear Treaty

The NPT, a landmark international treaty that came into force in 1970, seeks to prevent the spread of nuclear weapons…reports Asian Lite News Amid rising tensions with Israel, Iran announced Monday that

Jaishankar Dials UAE, Armenia as Mideast Heats Up

EAM Jaishankar discussed the fast-evolving situation and emphasised the importance of dialogue and cooperation….reports Asian Lite News External Affairs Minister S. Jaishankar held telephonic conversations with his counterparts in the United Arab

Non-Oil Boom Fuels UAE Growth

In terms of contribution to non-oil GDP, the trade sector ranked first with 16.8 per cent, followed by manufacturing (13.5 per cent)…reports Asian Lite News The United Arab Emirates (UAE) posted a

Netanyahu: ‘Iran Wants to Kill Trump’

Netanyahu praised Trump’s record on Iran, highlighting key decisions such as the withdrawal from the Iran nuclear deal…reports Asian Lite News Israeli PM Netanyahu has alleged that Iran plotted to assassinate Donald
Go toTop

Don't Miss

Saudi will judge Raisi by reality on ground: FM

Iran is currently indirectly negotiating with the US in Vienna

Saudi Arabia all set to shape future of gaming

Showcasing new ideas, investment, and talent development, the Forum is