FINANCIAL NEWS

Saudi Arabia oil sector enlarges by 5.1 percent

05 Jul 2016

(MENAFN) Saudi Arabia’s economy expanded as its slowest rate in three years among Q1 of this year to reach 5.1 percent.

Moreover, the oil sector surpassed 5.1 percent in the cited quarter as the kingdom grew its production of crude and exported more refined products.

However, the non-oil sector dropped 0.7 percent, its lowest performance in at least five years.

Additionally, within the non-oil part of the economy, the private sector grew by 0.2 percent in Q1, whereas the government sector shrank 2.6 percent.

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