Saudi Arabia’s official data agency GASTAT said that the country’s GDP expanded by 4.8% in the third quarter of 2025 compared to the same period in 2024, driven by growth in both oil and non-hydrocarbon sectors.
As per the agency’s estimates, while oil activities in the Kingdom advanced by 8.3% year on year in the third quarter, the non-oil sector recorded a growth rate of 4.3%. Government activities also expanded by 1.4% compared to the same quarter of 2024.
The strong performance highlights the solid progress under the Kingdom’s “Vision 2030” strategy, which aims to diversify the Gulf major’s oil revenue-dependent economy.
All economic activities recorded positive annual growth. While petroleum refining achieved the highest rate in the third quarter, rising by 11.9%, it was followed by crude petroleum and natural gas activities at 7.3%, and electricity, gas and water activities at 6.4%. On a seasonally adjusted basis, Saudi Arabia’s GDP expanded by 1.4% in the third quarter compared to the previous three months.
Oil activities grew by 3.3% quarter on quarter, while government activities and non-oil activities advanced by 1% and 0.6%, respectively. Regarding the trade balance, exports increased 18.4% year on year in the third quarter and 7.5% quarter on quarter.
Imports, on the other hand, rose by 4.3% compared to the same period in 2024, although inbound shipments were down 1.2% from the previous quarter. Earlier in December, the World Bank upgraded its 2025 economic growth forecast for the Kingdom to 3.8%, up from its earlier estimate of 3.2%, citing renewed momentum in both oil and non-oil sectors. In October, the International Monetary Fund (IMF) also raised its GDP growth forecast for the Gulf major to 4% for both 2025 and 2026.