Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Kingdom's nominal GDP increases 15.2% in second quarter
Published in The Saudi Gazette on 02 - 11 - 2010

JEDDAH: Saudi nominal GDP maintained its robust growth in the second quarter, increasing by 15.2 percent against the same period a year earlier, according to the latest data from Jadwa Investment.
Inflation adjusted real GDP growth data is not yet available, but Jadwa maintains its forecast for full-year real Saudi GDP growth at 3.9 percent.
The Riyadh-based finance house said that although nominal growth was down in comparison to the 34.1 percent growth in the first quarter, an increase in oil revenues had led to 24.1 percent growth in the second quarter.
Growth in the non-oil private sector dropped from 6.7 percent in the first quarter to 6.2 percent in the second.
A sustained program of government spending led to the construction and utilities sectors posting a strong performance in the second quarter, rising by 8.4 percent and 7.9 percent, respectively.
Elsewhere, telecoms growth stayed healthy, boosted by the provision of mobile and broadband applications. Telecoms is combined with transport in the GDP data; the sector saw growth of 6.5 percent in the second quarter.
Agriculture and retail were among the weakest performing sectors.
“We had not anticipated that retail would be one of the weakest performing sectors in the second quarter,” the report stated.
“Given the indications of strong consumer spending (point of sale transactions were up by 33 percent and cash withdrawals from ATMs up by 14 percent over the same period), the slowdown in growth in the retail sector, to 3.6 percent from 8.8 percent in the first quarter, is puzzling.”
Jadwa predicted that third-quarter data would show a slowing of the non-oil private sector due to relative business inactivity during Ramadan.


Clic here to read the story from its source.