Saudi Gazette report

RIYADH — The General Authority for Statistics (GASTAT) has released on Sunday the GDP and National Accounts Indicators Report for 2024, revealing a 1.3% growth in real GDP compared to 2023.

The expansion was driven by a 4.3% rise in non-oil activities and a 2.6% increase in government activities, while oil activities declined by 4.5%.

On a quarterly basis, real GDP grew by 4.5% in Q4 2024 compared to the same period in 2023, supported by growth across all economic sectors.

Non-oil activities expanded by 4.7%, oil activities by 3.4%, and government activities by 2.2% year-on-year.

Seasonally adjusted real GDP increased by 0.5% in Q4 2024 compared to Q3 2024, reflecting continued economic momentum.

The report highlighted that most economic sectors recorded positive growth in 2024, aligning with the objectives of Saudi Vision 2030 to foster a prosperous and diversified economy.