Q2 2023 GDP Update: (Non-oil GDP growth accelerates in Q2-23)

‘Non-oil Activities’ real GDP growth accelerated to 6.1 percent, year-on-year, in Q2-23, pushing up the average for the past four quarters to 5.9 percent. Meanwhile, ‘Government Activities’, which is separate, eased back to 2.3 percent growth following a spike in Q1-23. Overall GDP growth was weighed down by cuts to oil production, and fell to 1.2 percent from 3.8 percent in Q1.