Saudi GDP grows 11.8% year/year in Q2 -flash estimates

DUBAI – Saudi Arabia’s gross domestic product rose by 11.8% in the second quarter compared with the same period in 2021, according to initial government estimates on Sunday, as the world’s top oil exporter benefits from higher energy prices.

Growth was largely driven by a 23.1% increase in oil activities, the General Authority for Statistics said, while non-oil activities expanded 5.4%.

(Reporting by Hadeel Al Sayegh; Editing by Hugh Lawson)