Saudi Arabia's real GDP grows 3.4% in Q1 2025

The Saudi General Authority for Statistics (GASTAT) today issued its report on real Gross Domestic Product (GDP) for the first quarter of 2025, revealing a 3.4% growth compared to the same quarter in 2024. This growth was driven by a 4.9% increase in non-oil activities and a 3.2% rise in government activities.

 Saudi Press Agency (SPA) reported that oil activities recorded a 0.5% decline. Meanwhile, on a seasonally adjusted basis, real GDP increased by 1.1% compared to the fourth quarter of 2024.

 The results showed that non-oil activities were the primary contributors to real GDP growth on an annual basis, adding 2.8 percentage points. Government activities and net product taxes also contributed positively, with 0.5 and 0.2 percentage points, respectively.

 GASTAT noted that most economic activities achieved positive growth rates on an annual basis. Wholesale and retail trade, restaurants, and hotels recorded the highest growth rates during the first quarter of 2025, with annual growth of 8.4% and quarterly growth of 0.7%

WAM