Saudi Economy Grows at Fastest Pace… Forecast to Exceed 5 Trillion Riyals by 2027
The Saudi economy recorded a 4.8% year-on-year growth in the third quarter of 2025, marking the fastest pace in three consecutive quarters, according to data from the General Authority for Statistics. This growth reflects an acceleration in economic activity, primarily driven by the oil sector, which grew by 8.3%, the highest rate in three years amid increased production under the OPEC+ agreement.
The non-oil sector continued its growth for the 19th consecutive quarter, though at a slower pace of 4.3%, while government sector growth rose to 1.4%. Non-oil sector growth in Q3 was the lowest since early 2021, causing its contribution to GDP to fall to 55% from 56% in the previous quarter, especially due to the significant surge in oil sector performance.
The Saudi government expects the economy to exceed 5 trillion riyals for the first time by 2027, reaching 5.26 trillion riyals, according to the 2026 Budget document issued by the Ministry of Finance. GDP first surpassed 4 trillion riyals in 2022 at 4.16 trillion riyals (1.11 trillion USD) and continued to grow until 2024, reaching 4.7 trillion riyals.
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Saudi Economy Developments: GDP Growth Driven by Non-Oil Activities
