Saudi Arabia's GDP grows 2.8% in Q3, driven by non-oil sectors

GASTAT reported that oil activities achieved a modest growth of 0.3% year-on-year, while non-oil activities surged by 4.2%

Staff Writer, Saudi Gazette

November 1, 2024

PHOTO

RIYADH — Saudi Arabia’s real GDP grew by 2.8% in the third quarter (Q3) of 2024 compared to the same period last year, according to the General Authority for Statistics (GASTAT).

In its flash estimates for Q3 of 2024, published on its official website, GASTAT reported that oil activities achieved a modest growth of 0.3% year-on-year, while non-oil activities surged by 4.2%.

Government activities also registered positive growth, reaching 3.1% compared to the same quarter in the previous year.

The data additionally showed that seasonally adjusted real GDP for Q3 of 2024 increased by 0.8% compared to Q2 of 2024, highlighting steady economic momentum across various sectors.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO