Non-Oil Activities Hit 55% of Saudi GDP for First Time

Non-oil activities in Saudi Arabia have reached 55% of the Kingdom's gross domestic product (GDP) for the first time, marking a notable milestone in the country's ongoing push toward economic diversification.

The figure reflects the growing weight of sectors beyond crude production in the national economy. For comparison, Saudi Arabia's updated 2023 GDP estimate stood at SAR 4.5 trillion, with non-oil activities accounting for 53.2% at that time.

Recent data also points to diverging trends between the oil and non-oil parts of the economy. In the second quarter of 2026, real GDP declined 4.7% year-on-year, largely driven by a 24.8% year-on-year drop in oil activities. Over the same period, non-oil activities grew 0.9% year-on-year, continuing their expansion despite the broader decline.

Looking ahead, the full-year 2026 forecast projects non-oil activities to grow 3.2%, signalling expectations of continued momentum in sectors such as services, trade, and industry.

Why it matters

For residents and expats across Riyadh, Jeddah, and other cities, a larger non-oil share of the economy points to a broader base of jobs, investment, and business opportunities that are less tied to global oil prices. It is a key indicator tracked under the Kingdom's long-term diversification goals, reflecting how everyday economic activity is increasingly spread across a wider range of sectors.

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