Saudi Arabia Sets New Standard in GDP Calculation with Moving Chain Methodology
Sunday, 10 March 2024, 16:02
Saudi Arabia Adopts Moving Chain Methodology for Real GDP Calculation
Saudi Arabia has become the first country in the Gulf Cooperation Council region to have adopted the moving chain methodology for the calculation of its real domestic product, the state-run news agency reported.
Key Points:
- Significant Move: Saudi Arabia sets a new standard in GDP calculation method
- Greater Accuracy: Use of moving chain methodology to provide more precise economic data
- Upcoming Data Release: General Authority for Statistics to issue vital bulletins for better economic insights
The report said that the implementation of this method is aimed at enhancing accuracy and reliability in measuring the economic performance of Saudi Arabia.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.