RIYADH: Saudi Arabia’s gross domestic product (GDP) has reached an 11-year high in the second quarter of this year.
According to Arab media reports, the GDP growth rate in Saudi Arabia in the second quarter of 2022 has reached the level of 11.8 percent, which is 11 percent higher than the same period last year.
Earlier in 2011, the country’s growth rate was recorded at 13.6 percent.
Saudi economic growth was fueled by rising oil sales, with the oil sector growing by 23.1 percent and non-oil beverages by 5.4 percent in the second quarter, according to the report.
It should be noted that the International Monetary Fund (IMF) has estimated a 7.6 percent increase in the Saudi economy this year.