Saudi GDP reflects lower oil activity as non-oil sector continues to grow
RIYADH — Saudi Arabia's non-oil economy continued to grow in Q2 2026 despite an overall decline in real gross domestic product, which fell 4.8 percent year-on-year due to a 24.7 percent drop in oil activities, according to flash estimates released by the General Authority for Statistics (GASTAT). De
RIYADH — Saudi Arabia's non-oil economy continued to grow in Q2 2026 despite an overall decline in real gross domestic product, which fell 4.8 percent year-on-year due to a 24.7 percent drop in oil activities, according to flash estimates released by the General Authority for Statistics (GASTAT). Despite the overall contraction, non-oil activities grew 0.6 percent compared with the same quarter of 2025, while government activities increased 0.9 percent. **media[2744201]** Oil activities reduced overall GDP growth by 5.4 percentage points, while non-oil activities contributed 0.4 percentage points. Government activities and net taxes on products each contributed 0.1 percentage points. On a seasonally adjusted basis, real GDP declined 4.9 percent from the previous quarter, reflecting a 21.5 percent fall in oil activities and a 0.5 percent decline in non-oil activities. Government activities increased 0.2 percent during the quarter.