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.

June 09, 2024
8 Articles

Further Reading