Saudi Q4 GDP down 3.9%

Oil sector sees biggest drop in ten years

Saudi Arabia’s economy contracted by 3.9% in the fourth quarter of 2020 compared with the same period one year earlier, according to the latest data released Tuesday by the kingdom’s statistics authority.

The oil sector shrank by 8.5% and the non-oil sector by 0.8% in Q4 2020 compared with Q4 2019, but the same sectors rose by 2.6% and 2.4%, respectively…