(MENAFN) Saudi Arabia's GDP declined to 0.5 percent in the Jan-March period compared to an annual increase of 2.2 percent for the same period of 2016, pushed by the fall in oil prices.
On the other hand, the non-oil sector increased 0.6 percent for the same period with the backing from the non-oil private sector which rose 0.9 percent.
Moreover, the non-oil sector increased 0.6 percent helped by the non-oil private sector, whereas the non-oil government sector contracted by 0.1 percent.
However, banking sector credit growth slowed down to 0.6 percent year on year, while credit to transport and communication, utilities and health services grew sequentially.
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