FX.co ★ Saudi Arabia's GDP contracts by 4.3% in the Fourth Quarter of 2023

Saudi Arabia's Gross Domestic Product (GDP) took a hit in the fourth quarter of 2023, contracting by 4.3% compared to the same period a year ago. This decline follows a previous indicator of -3.7% in the same quarter of 2023. The data was updated on 10th March 2024, showing a significant drop in economic activity for the country. The Year-over-Year comparison highlights the challenging economic situation Saudi Arabia is facing, indicating a continued struggle in its GDP growth. As the country navigates through these difficult times, experts are closely monitoring the economic indicators to assess the path towards recovery.