Saudi Arabia’s real GDP fell by 4.4% in the third quarter of this year, according to the General Authority for Statistics.
GDP contracted by 4.5% in the third quarter year-on-year, marking the first quarterly contraction since the first quarter of 2021.
“Oil activities contracted by 17% compared to the third quarter of 2022, while non-oil activities grew by 3.5% year-on-year,” the General Authority for Statistics data showed.
The quarterly contraction in oil activities was due to the voluntary cut in oil production that the Kingdom began in May by half a million barrels per day and then deepened in July by 1 million barrels per day.
GOOGL 
AMZN 
MET 
T 
WPM 
DM 
SVM 
CMC 
HKDUSD=X 
BABA 