RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-10-01 13:15:00

SAUDI ARABIA GDP DOWN 7%

SAUDI ARABIA GDP DOWN 7%

S.A.GASTAT - 2020/09/30 - Saudi economy contracts by 7.0% in the second quarter of 2020

Gross Domestic Product (GDP) of Saudi Arabia contracted by 7.0% in real terms in the second quarter of 2020. This negative growth originated mainly from the contraction in the Non-Oil Sector by 8.2%, and the Oil Sector by 5.3%. The Private Sector and the government Sector recorded a negative growth rate of 10.1% and 3.5%, respectively.

GDP Growth by Main Economic Activity

  • In the second quarter of 2020, all activities recorded negative growth. "Wholesale & Retail Trade, Restaurants & Hotels" contracted the most by -18.3%, followed by "Transport, Storage & Communication" with -16.3%, "Petroleum Refining" with -14.0%.
  • "Finance, Insurance & Business Services" recorded the smallest contraction of -0.3%, followed by "Real Estate Activities" with -1.1% "Government Services" by -1.3%.

Size of the Economy and Contributions of Economic Activities

The Saudi GDP at current prices amounted to SAR 564.2 billion in the second quarter of 2020, down by 23.8% from the same quarter of the previous year. The contribution of Government Services to GDP was 24.5%, followed by Crude Petroleum & Natural Gas with 14.5%, Manufacturing, excluding Petroleum Refining, with 10.3%, and Wholesale & Retail Trade, Restaurants & Hotels with 10.3%.

 

Full PDF version

-----

Log in to read the publication.

An authorized user gets access to four FREE publications per month.

You can also buy a full access to all publications of the site since January 2014.


Earlier:

SAUDI ARABIA GDP DOWN 7%
2020, September, 30, 13:10:00
OIL PRICE: NOT BELOW $40 AGAIN
Brent dropped 40 cents, or 1%, to $40.63 per barrel, WTI fell 32 cents, or 0.8%, to $38.97.
SAUDI ARABIA GDP DOWN 7%
2020, September, 30, 12:50:00
SAUDI ARABIA RATINGS A-/A-2
Low oil prices and the COVID-19 pandemic are taking a toll on Saudi Arabia's economy and budget
SAUDI ARABIA GDP DOWN 7%
2020, September, 25, 13:00:00
OPEC+ IRAQ REDUCING
OPEC’s second-biggest producer, Iraq has failed in the past to fully comply with OPEC+ oil output reductions,
SAUDI ARABIA GDP DOWN 7%
2020, September, 24, 12:20:00
OPEC+ REBALANCING: 2021
The OPEC+ agreement, along with declines in production elsewhere, including the United States, brought global supply lower than the level of global demand for the first time since mid-2019.
SAUDI ARABIA GDP DOWN 7%
2020, September, 18, 12:25:00
OPEC RESTORES BALANCE
Energy minister Alexander Novak said Russia "greatly values cooperation with OPEC," and that while overall compliance with the cuts is high, "I would like to urge everyone to view this very seriously and stick to the high level of conformity we were able to achieve."
SAUDI ARABIA GDP DOWN 7%
2020, September, 11, 12:20:00
OPEC+ PRODUCTION CUT
The OPEC+ agreement called for a decrease in crude oil output by a combined 9.7 million b/d in May and June, a combined decrease of 9.6 million b/d in July 2020, and a combined decrease of 7.7 million b/d in August
SAUDI ARABIA GDP DOWN 7%
2020, September, 8, 12:45:00
OPEC+ STABILIZES MARKET
Saudi Arabia and Russia agreed to further closely coordinate their work on production cuts, trade and investments.
All Publications »
Tags: SAUDI, ARABIA, GDP, ECONOMY, FINANCE
Chronicle:
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:54:00
6TH ANNUAL POWER WEEK ASIA IS GOING DIGITAL
POWER WEEK ASIA attracts the industry leaders from national power companies, government regulators, policy makers, renewable & IPPs, investors and suppliers from around the globe.
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:53:00
JOIN THE 3RD ANNUAL POWER WEEK AFRICA VIRTUAL CONFERENCE
Specially designed for the African electric power & energy industry, POWER WEEK AFRICA (16 – 19 November 2020) is the 3rd annual international virtual conference delivering a unique experience for each day of the event.
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:50:00
IRANIAN GAS: WITHOUT INDIA
Farzad-B gas field was discovered by a consortium of three Indian companies ONGC, Oil India Limited and Indian Oil Corporation in 2008 in the Farsi offshore block of the Persian Gulf. Tehran and New Delhi have since negotiated the terms of the field’s development for years.
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:45:00
IBERDROLA, PNM ACQUISITION $8.3 BLN
The Spanish energy group Iberdrola, through its affiliate Avangrid, has acquired PNM Resources, the power utility of New Mexico and Texas, for a total consideration of US$8.3bn.
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:40:00
PIONEER, PARSLEY ACQUISITION $7.6 BLN
US shale producer Pioneer Natural Resources has entered into a definitive agreement to acquire its peer Parsley Energy
SAUDI ARABIA GDP DOWN 7%
2020, October, 22, 14:35:00
AUSTRALIA'S SANTOS PRODUCTION: +22%
Third quarter production of 25.1 mmboe was a record for Santos and 22% higher than the prior quarter
SAUDI ARABIA GDP DOWN 7%
2020, October, 21, 17:10:00
OIL PRICE: ABOVE $42
Brent were at $42.44 a barrel, WTI slipped 73 cents, or 1.75%, to $40.97.
All Publications »