Riyadh - The General Authority for Statistics issued rapid estimates of the GDP growth rate for the fourth quarter of 2021 AD. The real GDP during the fourth quarter of 2021 AD increased by 6.8% compared to what it was in the same period in the previous year 2020.

The results of the bulletin indicated that the real GDP of non-oil activities in the Kingdom achieved a positive growth of (5.0%) during the fourth quarter of 2021 AD compared to what it was in the same quarter of the previous year 2020.

According to the results of the bulletin of rapid estimates, the real GDP of non-oil activities in the Kingdom achieved a positive growth of 6.6% during 2021 compared to what it was in the previous year (2020).

The results of the bulletin showed that the real GDP in the Kingdom achieved - after making seasonal adjustments to it - an increase of (1.6%) during the fourth quarter of 2021 AD compared to what it was in the third quarter of the same year (2021 AD).

According to the Manual of Statistical Terms used in the General Authority for Statistics, quick estimates of quarterly GDP is defined as an estimation process for the quarterly national accounts that is made within a short period after the end of the reference quarter, and is published 40 days after the end of the reference quarter when the data relating to This quarter is still incomplete, and it is the same as the estimates made in the quarterly national accounts, but it adopts simplified assumptions about the extrapolation of some indicators (monthly or quarterly), and many indicators are used related to production, expenditures, income, price and foreign trade, and quick estimates are related to Quarterly GDP for the entire national economy, and is presented without any details of economic sectors and activities.

Quick estimates are used by policy makers, academics, and researchers who want to get a long-term future view of GDP data.

In addition, international organizations use seasonally adjusted data to make economic comparisons between countries of the world.

The General Authority for Statistics is the official and only statistical reference for statistical data and information in the Kingdom. It implements all statistical work, technical supervision of the statistical sector, design and implementation of field surveys, conduct of statistical studies and research, data and information analysis, and all work of documenting and preserving information and statistical data that covers all Aspects of life in the Kingdom from its various sources, recording, classifying, analyzing, and extracting its statistical indicators.