Saudi non-oil growth 0.6% Q2
Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.8% in the second quarter of 2026 compared to the same period last year, primarily due to a sharp decline of 24.7% in oil activities. Meanwhile, non-oil activities grew by 0.6%, and government activities contributed an increase of 0.9%. On a quarterly basis, the economy contracted by 4.9% in the second quarter compared to the first quarter, mainly attributed to a decline in oil activities by 21.5%. Oil activities were the largest negative contributor to the downturn, while non-oil and government activities helped mitigate the overall decline. Year-over-year, growth in the first quarter was 3%, supported by increases across all economic sectors, with significant growth of 2.9% each in oil and non-oil activities.
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