Saudi Arabia Reports 2.8% GDP Growth in Q3, Led by Non-Oil Sector Expansion

KSA, 1 November, 2024 : Saudi Arabia's real GDP grew by 2.8% in the third quarter (Q3) of 2024, compared to the same period last year, according to the General Authority for Statistics (GASTAT). 

GASTAT's flash estimates indicate that oil activities experienced modest growth of 0.3% year-on-year, while non-oil activities surged by 4.2%. Government activities also showed positive growth, reaching 3.1% compared to Q3 of the previous year. 

Additionally, seasonally adjusted real GDP for Q3 increased by 0.8% compared to Q2, reflecting steady economic momentum across various sectors.

Source : www.zawya.com