12 Hrs
Source:
الوئام
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Non-oil sector rises 0.9%, GDP down 4.7%
Data from the Saudi General Authority for Statistics showed that the country's real gross domestic product (GDP) contracted by 4.7% in the second quarter of 2026 compared to the same period last year, with oil activities declining by 24.8%, which is the main reason for the contraction. Conversely, non-oil activities experienced growth of 0.9%, surpassing previous expectations of 0.6%. On a quarterly basis, the GDP decreased by 4.8%, with oil activities falling by 21.6%, while non-oil activities saw a slight decline of 0.4%. The data indicates a continued disparity in performance between the oil sector and other economic activities, with the primary contraction driven by a drop in oil revenues, while non-oil activities supported overall economic growth.
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