Saudi Arabia’s real GDP increased by 2.8% in the third quarter of 2024 compared to the same period last year, according to the latest figures from the General Authority for Statistics (GASTAT).
In its preliminary report on the real GDP growth rate for Q3 2024, released on its official website, GASTAT highlighted a 0.3% growth in oil activities compared to Q3 2023.
Non-oil sectors performed even better, achieving a 4.2% growth rate, reflecting the country’s ongoing efforts to diversify its economy.
Government activities also contributed positively, with a growth rate of 3.1% compared to the same quarter in the previous year, indicating robust public sector performance.
The seasonally adjusted real GDP for Q3 2024 showed a 0.8% increase over the second quarter of 2024, underscoring consistent economic progress.
