The Kingdom of Saudi Arabia has adopted a new methodology for measuring GDP known as moving series. The moving chain methodology aims to enhance the accuracy and reliability of economic indicators.
It takes into account changes in production and consumption structures and the effects of price changes. The Saudi General Authority for Statistics recently revealed that the gross domestic product decreased by 4.3% during the fourth quarter of 2023 compared to the same quarter of 2022. The Kingdom is the first country in the Gulf and Arab countries to adopt the moving chains methodology.