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Saudi Arabia's economy continued to improve in the fourth quarter of 2021 on the back of high oil prices and strong domestic demand.
The country's gross domestic product (GDP) jumped by 6.7 percent during the quarter compared to the same period in 2020.
The growth was to a large extent due to the high increase in oil activities, which grew by 10.9 percent year-on-year, according to the General Authority for Statistics (GASTAT).
Non-oil activities also increased strongly by 5.1 percent, while government activities expanded by 2.4 percent.
"The expansion of oil activities was the dominant growth factor," the statistics authority said in a report released on Wednesday.
Economic activities at constant prices
In its report, GASTAT said all economic activities in the kingdom mostly showed growth rates on an annual basis in the last quarter of 2021.
Oil refining activities posted the highest increase at 16.6 percent, followed by manufacturing (excluding petroleum refining) with an annual growth rate of 9.5 percent, and wholesale and retail trade, restaurants and hotels (8.7 percent).
However, crude petroleum and natural gas declined by 1.2 percent
Domestic non-government demand
Private consumption and fixed capital investment grew at 9 percent and 9.3 percent, respectively.
Government final consumption expenditure went up by 1.4 percent compared to the previous quarter but decreased by 1.5 percent on an annual basis.
(Reporting by Cleofe Maceda; editing by Daniel Luiz)