ع
The General Authority for Statistics issued revised data showing Saudi Arabia’s real gross domestic product rose 3.0 percent in the first quarter of 2026 from the same period a year earlier after an initial flash estimate of 2.8 percent. This outcome reflected mixed performances across key sectors as external factors weighed on energy operations. The authority’s report provided both annual and quarterly perspectives on the economy’s path.
According to the General Authority for Statistics oil activities expanded 2.9 percent year-on-year in the quarter down from 10.8 percent growth in the fourth quarter of 2025. Non-oil activities likewise slowed to 2.9 percent from 4.6 percent in the preceding period. Government operations reversed a prior decline by advancing 1.5 percent after a 1.2 percent contraction in the fourth quarter of 2025.
The General Authority for Statistics calculated that seasonally adjusted real GDP contracted 1.2 percent on a quarterly basis in the first quarter. That sequential decline was driven primarily by a 6.8 percent drop in oil activities. Offsetting contributions came from a 1.4 percent rise in government activities and 0.3 percent growth in non-oil activities.
GASTAT linked part of the oil sector slowdown to U.S.-Iran tensions that affected shipping through the Strait of Hormuz which accounts for approximately 20 percent of global oil and liquefied natural gas trade. The disruptions added pressure to Saudi energy output during the period. Such geopolitical influences have at times altered quarterly energy performance in recent years.
A Vision 2030 annual report from April 2026 placed non-oil activities at 55 percent of GDP in 2025 up from 45 percent at the program’s 2016 launch. The same document recorded full-year real GDP growth of 4.5 percent for 2025 with non-oil GDP advancing 4.9 percent. Private sector output reached 51 percent of the economy last year.
Riyad Capital’s review of 2025 data showed non-oil growth at 4.1 percent in the fourth quarter underscoring the diversification trend under Vision 2030. The Public Investment Fund grew assets under management to $925 billion by year-end 2025 according to the Vision 2030 report. These gains have supported broader economic resilience beyond hydrocarbons.
The International Monetary Fund’s April 2026 World Economic Outlook forecast 3.1 percent real GDP growth for Saudi Arabia in full-year 2026. That projection factors in sustained non-oil momentum and anticipated oil market conditions. Subsequent GASTAT releases will clarify whether first-quarter patterns persist through the remainder of the year.
