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Saudi Arabia's Q1 2024 GDP declined 1.7% YoY, with oil activities down 11.2% and non-oil GDP up 3.4% (GASTAT).
Saudi Arabia's GDP declined by 1.7% year-on-year in Q1 2024, with oil activities decreasing by 11.2% year-on-year and non-oil GDP growing by 3.4%, according to GASTAT.
The overall real GDP showed a 1.4% growth compared to the previous quarter, and government activities increased by 2%.
This aligns with Saudi Vision 2030, aiming to diversify growth engines and achieve a prosperous economy.
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El PIB de Arabia Saudita en el primer trimestre de 2024 disminuyó un 1,7% interanual, las actividades petroleras cayeron un 11,2% y el PIB no petrolero aumentó un 3,4% (GASTAT).