Non-Oil Sector Expands 4.3% as Vision 2030 Reforms Gain Traction; World Bank and IMF Revise Forecasts Upward
RIYADH: Saudi Arabia’s economy expanded by 4.8 percent in the third quarter of 2025, according to official data released on Tuesday, reflecting broad-based growth across hydrocarbon and non-oil sectors amid the Kingdom’s ongoing economic transformation.
The General Authority for Statistics (GASTAT) reported that oil activities jumped 8.3 percent year-on-year, while the non-oil sector—a critical pillar of the Vision 2030 diversification agenda—grew by 4.3 percent. Government activities also increased by 1.4 percent.
“Non-oil activities were the main contributor, adding 2.4 percentage points to overall GDP growth,” GASTAT stated, with oil activities contributing another 2 percentage points. All economic sectors recorded positive annual growth, led by petroleum refining, which surged 11.9 percent.
On a quarterly basis, real GDP increased by 1.4 percent after seasonal adjustment. Oil activities rose 3.3 percent from the previous quarter, while non-oil and government activities advanced 0.6 percent and 1 percent, respectively.
The growth figures arrive amid rising international confidence in the Kingdom’s economic trajectory. Earlier this month, the World Bank raised its 2025 growth forecast for Saudi Arabia to 3.8 percent, and the International Monetary Fund recently upgraded its outlook to 4 percent for both 2025 and 2026.
External trade also remained robust, with exports climbing 18.4 percent compared to the third quarter of the previous year.
The sustained expansion underscores the gradual progress of Saudi Arabia’s long-term strategy to reduce its historical reliance on crude oil revenues and build a more resilient, diversified economic base.
