Saudi Arabia’s economy grew by 3.4% in the first quarter of 2025 compared to the same period last year, according to the latest figures released by the General Authority for Statistics (GASTAT).
This growth was primarily fueled by a 4.9% rise in non-oil activities and a 3.2% increase in government services, highlighting the Kingdom’s steady progress toward economic diversification under its Vision 2030 strategy. In contrast, oil-related activities saw a slight decline of 0.5%.
On a seasonally adjusted basis, the Kingdom’s real GDP rose by 1.1% from the fourth quarter of 2024.
GASTAT noted that non-oil activities were the main contributors to the year-on-year growth in real GDP, accounting for 2.8 percentage points of the total. Government activities added 0.5 percentage points, while net product taxes contributed 0.2 percentage points.
Among individual sectors, wholesale and retail trade, along with restaurants and hotels, posted the strongest annual growth at 8.4%, with a modest 0.7% increase from the previous quarter — signaling renewed consumer confidence and a boost in tourism.
Source: ArabianBusiness.com
