Saudi Gazette report

RIYADH — 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).

In its flash estimates for Q3 of 2024, published on its official website, GASTAT reported that oil activities achieved a modest growth of 0.3% year-on-year, while non-oil activities surged by 4.2%.

Government activities also registered positive growth, reaching 3.1% compared to the same quarter in the previous year.

The data additionally showed that seasonally adjusted real GDP for Q3 of 2024 increased by 0.8% compared to Q2 of 2024, highlighting steady economic momentum across various sectors.