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Real oil sector GDP growth Saudi Arabia Q1 2016-Q2 2019

In Saudi Arabia, the real oil gross domestic product growth (GDP) decreased in the first quarter of 2019 to reach one percent, and negative three percent in the second quarter. The decline was due to the lowered production following the OPEC+ agreement and the reduction in world oil prices. Also, the trade war decreased the global oil demand and increased the volatility of its price.

Quarterly real oil sector GDP growth in Saudi Arabia from the 1st quarter of 2016 to the 2nd quarter of 2019

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Release date

December 2019


Saudi Arabia, MENA

Survey time period

Q1 2016 to Q2 2019

Supplementary notes

Note: 1 Saudi riyal is equal to 0.27 U.S. dollars or 0.22 euros as of August 2020.

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