Non-oil sector expands 0.6% in Q2 2026
The statement issued by the General Authority for Statistics reveals that the real gross domestic product (GDP) in the second quarter of 2026 declined by 4.8% compared to the same period of the previous year, primarily due to a significant decrease in oil activities by 24.7%. On a quarterly basis, the GDP shrank by 4.9% compared to the first quarter of 2026, mainly due to a 21.5% decline in oil activities. Meanwhile, non-oil activities contributed positively to growth, with a 0.6% increase year-over-year and a 0.2% increase quarter-over-quarter. However, the sharp decline in oil production is the main factor behind the overall economic contraction during this quarter.
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