Saudi Arabia: GDP growth accelerates in Q2

The preliminary GDP results for Q2 show a strong growth rate of 3.9%, up from 3.4% in Q1, driven by a rise in oil production.
Oil GDP grew by 3.8% y/y in Q2, reversing a 0.5% contraction in Q1, with significant increases in oil production.
Non-oil activities saw annual growth of 4.7% y/y in Q2, contributing the bulk of the headline growth figure.

Daniel Richards