Non-oil activities, since the start of the pandemic, achieved a positive growth of 3.3%, as well as government services activities achieved a positive growth of 0.3% during the first quarter of 2021 … according to rapid estimates made by the General Authority for Statistics.
The kingdom’s seasonally adjusted real GDP witnessed a slight decrease close to zero by -0.1% in the first quarter of 2021 compared to the fourth quarter of 2020 AD. This slight negative growth is due to the decline in oil activities by -5.1% as a result of the cuts. The additional production of crude oil that started in February 2021, while both non-oil activities and government services activities achieved positive growth of 4.0% and 5.0%, respectively.
And compared to the same period of the previous year, the real GDP witnessed a decrease of -3.3% in the first quarter of 2021 AD, and this decrease is due to the significant negative growth witnessed by the oil activities by -12.0% due to the reduction of the agreed levels of crude oil production. Among the OPEC group
Since May 2020.