Saudi Arabia reports 2.8% GDP growth in Q1 2026 driven by non-oil sector
Here's what it means for you.
Saudi Arabia's economic resilience highlights the importance of diversification in mitigating oil market volatility.
What happened
Saudi Arabia's GDP grew by 2.8% year-on-year in Q1 2026.
The Context
- Non-oil sector contributed 1.7 percentage points to the GDP growth.
- Oil activities grew by 2.3%, while government activities expanded by 1.5%.
- Quarterly GDP showed a decline of 1.5% compared to Q4 2025, driven by a 7.2% contraction in oil activities.
Takeaway
The ongoing growth in the non-oil sector suggests a diversification of the Saudi economy, which may help mitigate future volatility.
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الاقتصاد السعودي يتحدى الضغوط وينمو 2.8 % برافعة الأنشطة غير النفطية
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Saudi GDP grows 2.8% in Q1 2026, driven by non-oil sector
Saudi Arabia's GDP grew by 2.8% year-on-year in the first quarter of 2026, driven primarily by a robust non-oil sector, which contributed 1.7 percentage points to total GDP growth. Oil activities rose by 2.3%, while government activities expanded by ...
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Saudi GDP grows 2.8% in Q1 2026, driven by non-oil sector
Saudi Arabia's GDP grew by 2.8% year-on-year in the first quarter of 2026, driven primarily by a robust non-oil sector, which contributed 1.7 percentage points to total GDP growth. Oil activities rose by 2.3%, while government activities expanded by ...
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