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الاقتصادية
Saudi economy shrinks in Q2 amid easing of non-oil pressures
The Saudi economy contracted by 4.8% year-on-year in the second quarter of 2026, marking the fastest decline since data collection began in 2011. This was mainly driven by the war that erupted in the region in February, which led to reductions in oil production and a decrease in exports, especially through the Strait of Hormuz. Despite this, the non-oil sector managed to sustain its growth for the 28th consecutive month, albeit at a slower rate of 0.6%, the lowest level since the COVID-19 pandemic. The International Monetary Fund remains optimistic about the resilience of the Saudi economy thanks to reforms under Vision 2030, and its projections for 2027 indicate a recovery with growth reaching 5.5%, continuing to rely on economic diversification and the robustness of the non-oil sector.
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