Saudi 2023 GDP Revised Up 14.1% to SAR 4.5 Trillion

Saudi Arabia's national statistical authority has released a comprehensive update to the country's national accounts in 2025, raising the estimate for 2023 nominal Gross Domestic Product (GDP) by 14.1% to about SAR 4.5 trillion. The revision added roughly SAR 566 billion to the previously measured figure for that year.

Under the updated framework, the non-oil economy's share of nominal GDP for 2023 climbs to 53.2%, underscoring the growing weight of non-oil activities in the wider economy. Real GDP growth for 2023 is now reported at around 0.5%, shaped by non-oil activities expanding by about 7% while oil activities declined by roughly 9%.

The exercise marks the first major methodological update since 2010. It includes a change of base year to 2023 and broader coverage of economic activities, such as small and medium-sized enterprises, giving a fuller picture of output across sectors.

Why it matters

With the revised methodology, non-oil real GDP in 2023 accounts for roughly half of total real GDP, reaching around SAR 1.7 trillion at constant prices — its highest share in at least three decades. This reflects the continued diversification of the economy in line with the goals of رؤية السعودية 2030.

For residents and business owners, the update offers a clearer and more detailed view of the economy. Detailed national accounts tables, sector breakdowns, and time series for the revised figures are published through the national statistics portal, with data available in annual and quarterly formats and in both current and constant prices. The update is a statistical revision rather than a user-facing service, so no fees, procedures, or validity periods are involved.

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