Saudi Arabia’s economy shrank 3.8% year-on-year in the third quarter of 2026, after contracting 4.7% in the previous quarter, preliminary estimates showed. It was the second straight quarter of economic contraction, as oil activities slumped 20.4%, following a 24.8% plunge in Q2, due to the ongoing Middle East conflict that disrupted shipping through the Strait of Hormuz. The contraction was also accompanied by a 2.7% decline in government activities, after rising by 0.9% in Q2. However, the economic contraction was partly offset by faster growth in non-oil activities, which rose 1.9%, compared with 0.8% in Q2. On a quarterly basis, the economy expanded by 1.3% in Q3, recovering from a 4.8% contraction in Q2, driven by rebounds in oil activities (5.7% vs -21.6% in Q2) and non-oil activities (0.6% vs -0.4%), while government activities fell by 1.2%, compared with a 0.2% increase in Q2. source: General Authority for Statistics, Saudi Arabia

The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.80 percent in the third quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Saudi Arabia averaged 3.97 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 November of 2026.

The Gross Domestic Product (GDP) in Saudi Arabia contracted 3.80 percent in the third quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Saudi Arabia is expected to be -5.50 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 13.00 percent in 2027 and 3.40 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-08 06:00 AM
YoY Final
Q2 -4.7% 3% -4.8% -4.8%
2026-11-01 06:00 AM
YoY Prel
Q3 -3.8% -4.7% -5.8%
2026-12-08 06:00 AM
YoY Final
Q3 -4.7%


Related Last Previous Unit Reference
Full Year GDP Growth 4.50 2.70 percent Dec 2025
GDP Growth Rate YoY -3.80 -4.70 percent Sep 2026
GDP Constant Prices 1141543.00 1242133.00 SAR Million Jun 2026
GDP from Agriculture 30920.00 30196.00 SAR Million Jun 2026
GDP from Construction 87862.00 91307.00 SAR Million Jun 2026
GDP from Manufacturing 203803.00 205923.00 SAR Million Jun 2026
GDP from Mining 183002.00 248325.00 SAR Million Jun 2026
GDP from Transport 63503.00 71612.00 SAR Million Jun 2026
GDP from Utilities 20575.00 8118.00 SAR Million Jun 2026
GDP Growth Non Oil Sector 1.90 0.85 percent Sep 2026
GDP Growth Oil Sector -20.40 -24.79 percent Sep 2026
GDP Growth Rate 1.30 -4.80 percent Sep 2026
Gross Fixed Capital Formation 323645.00 339404.00 SAR Million Jun 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
-3.80 -4.70 24.20 -20.70 1969 - 2026 percent Quarterly
Constant Prices, 2023

News Stream
Saudi Arabia Q3 GDP Shrinks for 2nd Quarter
Saudi Arabia’s economy shrank 3.8% year-on-year in the third quarter of 2026, after contracting 4.7% in the previous quarter, preliminary estimates showed. It was the second straight quarter of economic contraction, as oil activities slumped 20.4%, following a 24.8% plunge in Q2, due to the ongoing Middle East conflict that disrupted shipping through the Strait of Hormuz. The contraction was also accompanied by a 2.7% decline in government activities, after rising by 0.9% in Q2. However, the economic contraction was partly offset by faster growth in non-oil activities, which rose 1.9%, compared with 0.8% in Q2. On a quarterly basis, the economy expanded by 1.3% in Q3, recovering from a 4.8% contraction in Q2, driven by rebounds in oil activities (5.7% vs -21.6% in Q2) and non-oil activities (0.6% vs -0.4%), while government activities fell by 1.2%, compared with a 0.2% increase in Q2.
2026-11-01
Saudi Arabia GDP Contracts for First Time Since 2023
Saudi Arabia’s economy contracted 4.7% year-on-year in the second quarter of 2026, revised slightly higher from a preliminary estimate of a 4.8% decline, and reversing from a 3.0% expansion in the previous period. This marked the first decline since the fourth quarter of 2023, as oil activities plunged 24.8%, reversing from 2.9% growth in Q1, pressured by ongoing US-Iran tensions that disrupted shipping through the Strait of Hormuz, a key chokepoint for global oil and LNG trade. Non-oil activities also grew at a slower pace of 0.9%, down sharply from 2.8% in the prior quarter. At the same time, government activities moderated to 0.9%, following a 1.5% advance in the previous period. On a quarterly basis, the economy contracted by 4.8% in Q2, primarily due to a 21.6% decline in oil activities and a 0.4% drop in non-oil activities, which largely offset a 0.2% increase in government activities.
2026-09-08
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