23 Hrs
Source:
البلاد
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Saudi Arabia's Economy Over 96 Years
Saudi Arabia's celebration of the 96th National Day highlights its developmental journey that began with its unification by King Abdulaziz in 1932, and its transformation from a barren desert into one of the top 20 economies in the world. Since the discovery of oil in 1938, the Kingdom has experienced significant growth in its gross domestic product, which has surpassed $1.2 trillion. Infrastructure and service projects have advanced, along with economic diversification driven by Saudi Vision 2030, making non-oil activities account for about 55% of the GDP. Additionally, Saudi Arabia is a key driver of the Gulf economy, maintaining strategic partnerships such as with Bahrain, exemplified through joint projects and investment exchanges exceeding $10 billion, reflecting deep collaboration and regional stability.
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