Saudi Arabia achieved significant Saudi economic growth in the third quarter, driven by both oil and non-oil sectors. Government estimates released on Thursday showed a year-on-year increase of 5%, reflecting the kingdom’s ongoing economic transformation.
Oil activities surged 8.2% annually, boosting overall GDP performance. Non-oil sectors also contributed, growing 4.5%, while government activity added 1.8%. These figures highlight the balanced nature of Saudi economic growth and the kingdom’s focus on diversification.
On a quarterly basis, seasonally adjusted real GDP rose 1.4% from the previous quarter. Oil activities widened 3.1%, while non-oil sectors grew 0.6%. These trends demonstrate steady progress in both traditional and emerging industries.
The growth comes as OPEC+ gradually unwinds oil production cuts. Saudi Arabia, a leading OPEC+ member, contributed to easing production restrictions starting in April. This move has supported global oil markets and strengthened domestic output.
The Ministry of Finance forecasts real GDP growth of 4.4% for 2025, up from 2% last year. Non-oil sectors are expected to drive much of this increase, aligning with Vision 2030 objectives to reduce hydrocarbon dependence. Moreover, the International Monetary Fund recently revised its 2025 GDP forecast to 4%, citing increased oil production.
Economic officials emphasized that Saudi Arabia continues a long-term journey of restructuring and diversification. The strategy focuses on strengthening non-oil revenue streams, developing sustainable industries, and increasing private sector participation.
Vision 2030 remains central to this transformation. The initiative aims to expand non-oil growth, attract investment, and modernize the economy. Officials noted that Saudi economic growth reflects both the kingdom’s natural resource strength and strategic reforms in the public and private sectors.
Additionally, authorities highlighted that investments in infrastructure, tourism, and technology sectors are supporting broader economic expansion. These efforts ensure the kingdom remains competitive globally while generating sustainable job opportunities for citizens.
Overall, Saudi Arabia’s recent figures confirm that the kingdom is successfully combining oil production with strategic diversification policies. Saudi economic growth continues to benefit from reforms, rising non-oil activity, and careful management of energy resources.
