Saudi Economy Sees 3% Growth in Q1 2026

The Saudi economy experienced significant growth in the first quarter of 2026, with real GDP increasing by 3.0% compared to the same period in 2025. This growth stems from a balanced improvement across various economic activities, including both oil and non-oil sectors.

Economic Activity Growth

Recent data indicates that oil-related activities grew by 2.9%, while non-oil activities matched this growth rate at 2.9%. Additionally, government activities contributed to this growth with an increase of 1.5%. However, on a quarterly basis, real GDP declined by 1.2% compared to the fourth quarter of 2025, according to the General Authority for Statistics.

Sector Contributions to Growth

The report highlights that non-oil activities played a crucial role in driving growth, contributing 1.7 percentage points. Oil activities followed with a contribution of 0.8 percentage points. Government activities and net taxes on products added 0.3 and 0.2 percentage points, respectively. This diversity in growth drivers reflects a robust economic landscape.

Leading Growth Activities

According to the Saudi Press Agency (SPA), all economic activities recorded positive growth rates year-on-year. Financial services, insurance, and business services led the way, achieving a remarkable growth rate of 5.4%. The manufacturing sector, excluding oil refining, also showed strong performance with a growth rate of 4.0%. This ongoing growth signals a resilient Saudi economy capable of adapting to global changes.

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