Saudi Gazette report

RIYADH — Saudi Arabia's real gross domestic product (GDP) recorded a growth rate of 4.4 percent during the fourth quarter of 2024 compared to the same period of the previous year. This marks the highest growth rate in the last two years driven by the main economic activities.

The rapid estimates, issued by the General Authority for Statistics (GASTAT) on Thursday, showed that non-oil activities achieved a growth rate of 4.6 percent, whereas oil activities posted a growth of 3.4 percent whereas government activities grew by 2.2 percent, compared to the same period of the previous year.

The seasonally adjusted real GDP increased by 0.3 percent in the fourth quarter of 2024 compared to the third quarter of the same year.

It is noteworthy that the rapid estimates of quarterly GDP are an estimation of the real growth rates of GDP, which are conducted within a short period after the end of the reference quarter, when the data related to the quarter is still incomplete.

The GASTAT will issue the actual results of the real GDP for the fourth quarter of 2024 in March 2025.