Riyadh city
Jadwa Investment Co. said oil-related gross domestic product (GDP) is likely to remain weak in the near term, weighing on overall GDP in the third quarter. 
The investment firm said that while lower oil production would weigh on real GDP growth, higher oil prices have offset the decline in oil export volumes.
Jadwa also expects nominal GDP, oil export revenues, and oil revenues in the government budget to increase.
Oil export revenues rose 11% in the first half of the year, while oil revenues in the government budget increased 9%, it said.
A full economic recovery depends on easing trade restrictions that continue to weigh on economic activity, the report said, adding that the volume of foreign trade, which fell sharply in March, remains significantly below previous levels.
Riyadh city
Jadwa Investment Co. said oil-related gross domestic product (GDP) is likely to remain weak in the near term, weighing on overall GDP in the third quarter.
The investment firm said that while lower oil production would weigh on real GDP growth, higher oil prices have offset the decline in oil export volumes.
Jadwa also expects nominal GDP, oil export revenues, and oil revenues in the government budget to increase.
Oil export revenues rose 11% in the first half of the year, while oil revenues in the government budget increased 9%, it said.
A full economic recovery depends on easing trade restrictions that continue to weigh on economic activity, the report said, adding that the volume of foreign trade, which fell sharply in March, remains significantly below previous levels.
