Saudi non-oil sector grows 4.9% in Q2 2024 – official data

Saudi Arabia’s General Authority for Statistics released its GDP bulletin for the second quarter of 2024, showing non-oil sector growth of 4.9% and government activities rising by 3.6%, according to estimates.

The seasonally adjusted real GDP increased by 1.4% in Q2 2024 compared to the first quarter of the year, the data showed.

However, the report added that year over year, seasonally adjusted real GDP declined by 0.3%, driven by an 8.9% drop in oil activities during the second quarter of 2024.