Non-Oil Sector Contributes 2.4 Percentage Points as Economic Diversification Under Vision 2030 Gains Momentum
RIYADH: Saudi Arabia’s economy grew by 4.8 percent in the third quarter of 2025 compared to the same period last year, driven by robust performances in both oil and non-oil sectors, the General Authority for Statistics (GASTAT) reported.
The data underscores the Kingdom’s continued economic momentum as it advances its Vision 2030 diversification agenda. Oil activities surged by 8.3 percent year-on-year, while the non-oil sector—a key focus of the reform plan—expanded by 4.3 percent. Government activities also increased by 1.4 percent.
GASTAT highlighted that non-oil activities were the primary growth driver, contributing 2.4 percentage points to the GDP figure, with oil activities adding 2 percentage points. All economic sectors posted positive annual growth, led by petroleum refining (up 11.9 percent), crude petroleum and natural gas activities (up 7.3 percent), and electricity, gas, and water supply (up 6.4 percent).
On a quarterly basis, seasonally adjusted GDP rose by 1.4 percent. Oil activities grew 3.3 percent from the previous quarter, while non-oil and government activities increased by 0.6 percent and 1 percent, respectively.
The trade balance also strengthened, with exports climbing 18.4 percent year-on-year. Imports rose 4.3 percent annually but saw a slight quarterly contraction.
The strong figures follow recent upward revisions by major international institutions. Earlier this month, the World Bank raised its 2025 growth forecast for Saudi Arabia to 3.8 percent, while the International Monetary Fund in October projected growth of 4 percent for both 2025 and 2026, citing renewed sectoral momentum.
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