Non-Oil Activities Reach 55% of Saudi GDP for First Time
The non-oil share of GDP has reached a record 55%, while non-oil government revenues have risen to around SAR 500 billion.
Non-oil activities now account for 55% of Saudi Arabia’s gross domestic product for the first time, according to Deputy Minister of Finance Abdulmohsen Al-Khalaf. He disclosed the figure at the World Petroleum Congress in Riyadh on October 12th, describing it as a structural shift in the economy since the launch of Vision 2030.
Al-Khalaf said non-oil government revenues have increased from around SAR 166 billion in 2015 to approximately SAR 500 billion at present, strengthening the economy’s ability to absorb external shocks and respond to changing conditions.
He also said unemployment among Saudi citizens has fallen to around 6%, reaching a record low. Growth has continued across sectors including tourism, entertainment, sports, technology, artificial intelligence and data centres, alongside employment initiatives aimed at expanding opportunities for Saudi workers.
