Real GDP Growth Rate (Quarterly)



Period GDP Growth Rate Non Oil GDP Oil GDP
Jan 1970 2.28 90.23 9.77
Jan 1970 2.12 91.18 8.82
Jan 1970 2.1 90.78 9.22
Jan 1970 2.38 92.94 7.06




Insight

Oil Sector: The oil sector posted a real growth rate of 6.49% (year-on-year) in Q3 2019, representing a 9.40% points increase relative to the rate recorded in the corresponding quarter of 2018. While indicating a -0.68% reduction when compared to Q2 2019. Quarter-on-Quarter, the oil sector recorded a growth rate of 18.88% in Q3 2019.

The sector contributed 9.77% to total real GDP in Q3 2019, up from levels recorded in both the corresponding period and the preceding quarter.

The Non-oil sector: The non-oil sector grew by 1.85% in real terms during the reference quarter. This was –0.48% points lower than recorded in the same quarter of 2018, but 0.20% point higher than the second quarter of 2019.

During the quarter, the sector was driven mainly by Information and communication, Mining and Quarrying, Agriculture, Transportation and Storage.

In real terms, the Non-Oil sector contributed 90.23% to the nation’s GDP, lower than the share recorded in the third quarter of 2018 (90.62%) but higher than the first quarter of 2019 (91.02%).

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