With its absolute monarchy, large state sector, and supply of welfare benefits, the Saudi economy has been described asː. A bewildering (at least to outsiders) combination of a feudal fealty system and a more modern political patronage one.

Jan 30, 2025 · Saudi Arabia's economy returned to growth in 2024, with real gross domestic product increasing 1.3% compared to the previous year, preliminary government data released on Thursday showed, with non ...

Jan 30, 2025 · Earlier this month, the International Monetary Fund projected that Saudi Arabia’s economy will grow by 3.3 percent in 2025 and 4.1 percent in 2026. These numbers reflect shifts in the global ...

Jan 30, 2025 · Saudi Arabia’s economy grew by 1.3% year-on-year in 2024, thanks to a surge in non-oil activities, according to flash estimates released by the General Authority for Statistics (GASTAT).

Dec 1, 2024 · Overview of Saudi Arabia’s Economy. Saudi Arabia’s economy stands as the second-largest in the Middle East and ranks seventeenth globally. This economic powerhouse is predominantly driven by its petroleum sector, with oil contributing approximately 40 percent to the Kingdom’s GDP and accounting for about 75 percent of fiscal revenue in recent years.

5 days ago · Saudi Arabia has an ESG Relevance Score of '4'for Human Rights and Political Freedoms as the Voice and Accountability pillar of the World Bank Governance Indicators is relevant to the rating and a rating driver. As Saudi Arabia has a percentile rank below 50 for the respective Governance Indicator, this has a negative impact on the credit profile.

Nov 20, 2024 · The figures for Saudi Arabia's GDP per capita and nominal GDP show how its economy contracted in 2020 and 2023. Real GDP is now expected to grow in 2025. Growth in Saudi Arabia's non-oil GDP has been relatively stable over the past five years, while the Saudi oil GDP rate has fluctuated.

Jan 19, 2025 · RIYADH: Saudi Arabia’s economy is projected to grow by 3.3 percent in 2025 and 4.1 percent in 2026, according to the latest forecasts from the International Monetary Fund.

Sep 28, 2023 · Saudi Arabia’s economy is undergoing a transformation, as it implements reforms to reduce oil dependence, diversify income sources, and enhance competitiveness. This year marks an important juncture as the midpoint of Saudi Arabia’s ambitious Vision 2030 journey.

Saudi Arabia, a conventional energy powerhouse, has made significant progress in diversifying its economy under Vision 2030. The digital economy, especially in sectors like education and health care, now contributes 14% of GDP, with artificial intelligence expected to add $135bn to the economy in 2030.