05/07/2017
The
GDP of the construction sector during the first quarter of the current
year 2017 is about 29.58 billion riyals, representing about 4.6
percent of the GDP for the same period of about 642.96 billion riyals
in real term, according
to the analysis of the unit of reports in the newspaper "economic"
based on the data of the General Authority for Statistics, the growth of
the GDP of the construction sector in the first quarter fell by 3.2%
compared to the same period last year 2016, which amounted to about
30.56 billion riyals and an estimated difference 979 million riyals. In comparison to the previous quarter, it fell by 3.4%, with the reaching 30.63 billion riyals, or 1.04 billion riyals. The
gross domestic product of the construction sector at the end of last
year amounted to SR 121.07 billion compared to SR 125.18 billion in the
previous year, reaching 4.7% of the GDP for the period. While the GDP of the construction sector during the last seven years
(2010-2016) to about 774.11 billion riyals with an average
participation of about 4.7% in GDP.
According
to the analysis, the gross domestic product of the construction sector
reached its highest level in the first quarter of 2015 by 31.53 billion
riyals, with a share of GDP of about 5 per cent. Participation in the
first quarter of 2017 was 4.6 percent. With
the exception of oil, the formation of the construction and
construction sector is the sixth of the activities affecting GDP,
preceded by the government services producers, who account for 14.7% of
GDP and manufacturing and oil refining by 12.7%. The third is the finance, insurance and real estate sector, which
accounts for about 6.4 percent, the wholesale and retail trade, and
hotels accounting for 9.1 percent. The transport and communications
sector, which accounts for about 6 percent of GDP in the first quarter
of 2017,
* Economic Reports Unit.
