10 Hrs
Source:
المدينة
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Q2 2026 Non-oil Growth Rises
The kingdom's real gross domestic product (GDP) recorded a decline of 4.7% year-on-year in the second quarter of 2026, with oil activities decreasing by 24.8%. Conversely, non-oil activities and government activities each grew by 0.9%. The data also showed that oil activities were the largest negative contributor to economic growth, contracting by 21.6% on a quarterly basis, while non-oil activities increased by 0.4%, and government activities rose by 0.2%. On the other hand, social, community, and personal services experienced the strongest growth at 4.1% annually, with finance, insurance, and business services increasing by 3.3%. In terms of spending, final government expenditure grew by 5% year-on-year but declined by 2% on a quarterly basis.
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