Saudi Arabia’s economy contracted 4.8% year-on-year in the second quarter of 2026, reversing the 3.0% expansion in the previous quarter, preliminary data showed. This marked the first decline since the fourth quarter of 2023, weighed down by a sharp contraction in oil activities, which fell 24.7% year-on-year and subtracted 5.4 percentage points from overall GDP growth. Meanwhile, non-oil activities and government activities continued to grow, though at a slower pace. Non-oil activity growth eased to 0.6% from 2.9% in Q1, while government activity growth slowed to 0.9% from 1.5%. On a seasonally adjusted quarterly basis, GDP declined 4.9%, following a 1.2% contraction in the previous quarter, as oil activities dropped 21.5% and non-oil activities decreased 0.5%, while government activities increased 0.2%. source: General Authority for Statistics, Saudi Arabia

The Gross Domestic Product (GDP) in Saudi Arabia contracted 4.80 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Saudi Arabia averaged 4.05 percent from 1969 until 2026, reaching an all time high of 24.20 percent in the fourth quarter of 1973 and a record low of -20.70 percent in the fourth quarter of 1982. This page provides the latest reported value for - Saudi Arabia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Saudi Arabia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2026.

The Gross Domestic Product (GDP) in Saudi Arabia contracted 4.80 percent in the second quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Saudi Arabia is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Saudi Arabia GDP Annual Growth Rate is projected to trend around 3.50 percent in 2027 and 3.40 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-09 06:00 AM
YoY Final
Q1 3.0% 5.2% 2.8% 2.8%
2026-07-30 05:50 AM
YoY Prel
Q2 -4.8% 3% 3.8%
2026-09-08 06:00 AM
YoY Final
Q2 3% 3.8%


Related Last Previous Unit Reference
Full Year GDP Growth 4.50 2.70 percent Dec 2025
GDP Growth Rate YoY -4.80 3.00 percent Jun 2026
GDP Constant Prices 1242719.00 1274718.00 SAR Million Mar 2026
GDP from Agriculture 30178.00 28986.00 SAR Million Mar 2026
GDP from Construction 91307.00 98574.00 SAR Million Mar 2026
GDP from Manufacturing 210858.00 196425.00 SAR Million Mar 2026
GDP from Mining 248325.00 276933.00 SAR Million Mar 2026
GDP from Transport 72119.00 74623.00 SAR Million Mar 2026
GDP from Utilities 8082.00 12607.00 SAR Million Mar 2026
GDP Growth Non Oil Sector 2.86 4.61 percent Mar 2026
GDP Growth Oil Sector 2.87 10.81 percent Mar 2026
GDP Growth Rate -1.50 1.40 percent Mar 2026
Gross Fixed Capital Formation 339404.00 336580.00 SAR Million Mar 2026


Saudi Arabia GDP Annual Growth Rate
Saudi Arabia is the world´s biggest producer of oil and oil extraction accounts for 46 percent of GDP. The services sector represents 36 percent of the wealth including government services (13 percent), wholesale and retail trade and restaurants and hotels (8 percent) and financing, insurance and real estate (7.9 percent). Other sectors are: manufacturing (10 percent), construction and electricity, gas and water distribution (6 percent) and agriculture, forestry and fishing (2 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-4.80 3.00 24.20 -20.70 1969 - 2026 percent Quarterly
Constant Prices, 2023

News Stream
Saudi Arabia GDP Contracts for First Time in Over 2 Years
Saudi Arabia’s economy contracted 4.8% year-on-year in the second quarter of 2026, reversing the 3.0% expansion in the previous quarter, preliminary data showed. This marked the first decline since the fourth quarter of 2023, weighed down by a sharp contraction in oil activities, which fell 24.7% year-on-year and subtracted 5.4 percentage points from overall GDP growth. Meanwhile, non-oil activities and government activities continued to expand, though at slower rates, with non-oil activity growth easing to 0.6% from 2.9% in Q1 and government activity growth slowing to 0.9% from 1.5%. On a seasonally adjusted quarterly basis, GDP declined 4.9%, following a 1.2% contraction in the previous quarter, as oil activities dropped 21.5% and non-oil activities decreased 0.5%, while government activities increased 0.2%.
2026-07-30
Saudi Arabia GDP Growth Softest in Almost Two Years
Saudi Arabia’s economy expanded 3.0% year-on-year in the first quarter of 2026, revised higher from a preliminary estimate of 2.8% but slowing from 5.0% growth in the previous period. This marks the softest economic expansion since the second quarter of 2024, as growth in oil activities slowed to 2.9% from 10.8% in Q4, pressured by ongoing US–Iran tensions that disrupted shipping through the Strait of Hormuz, a critical chokepoint for about 20% of global oil and LNG trade. Non-oil activities also rose at a softer pace of 2.9%, down from 4.6% in the prior quarter. Meanwhile, government activities rebounded by 1.5%, following a 1.2% contraction in the previous period. On a quarterly basis, the economy contracted by 1.2% in Q1, primarily due to a 6.8% decline in oil activities, which was partially offset by increases of 1.4% in government activities and 0.3% in non-oil activities.
2026-06-09
Saudi Arabia GDP Growth Decelerates in Q1
Saudi Arabia’s economy expanded 2.8% year-on-year in the first quarter of 2026, slowing sharply from a 5% growth in the previous quarter, preliminary data showed. This marked the weakest pace of expansion since the second quarter of 2024, weighed down by tensions between the US and Iran that disrupted shipping through the Strait of Hormuz, a key route for roughly 20% of global oil and LNG supply. Growth in non-oil activities (2.8% vs 4.3% in Q4) and oil activities (2.3% vs 10.8%) decelerated sharply. Meanwhile, government activities rose 1.5%, rebounding from a 1.2% decline in the prior period. On a quarterly basis, GDP fell 1.5%, the first decline since the third quarter of 2023, following a 1.4% increase in the previous quarter. The IMF noted that the country is expected to be less heavily affected by the conflict than other Gulf states, given its ability to reroute part of its exports through alternative channels, alongside the relative resilience of its non-oil industrial sector.
2026-04-30