RIYADH — The recently published update to Saudi Arabia’s GDP represents a significant strategic turning point in the Kingdom’s economic transition, according to Faisal Al-Ibrahim, Minister of Economy and Planning and Chairman of the General Authority for Statistics (GASTAT). The thorough redesign, carried out by GASTAT, represents global best practices and improves the transparency and quality of national economic statistics. It makes it possible to measure new industries more accurately, like finance, logistics, sports, the creative economy, and entertainment.
“The Kingdom’s continuous transformation and the momentum of economic diversification are reflected in the updated GDP measurement,” Al-Ibrahim stated. “A more accurate economic picture and a stronger case for targeted policy and investment decisions are made possible by improved coverage of high-growth sectors.” A 5.7 percentage point rise from previous estimates, the adjustment showed that non-oil activities now make up 53.2% of GDP, highlighting the growing importance of non-oil sectors in the economy. Just the first quarter of 2025 saw a 4.2% increase in non-oil activity.
In-depth fieldwork and administrative data, including visits to 2.4 million locations, 122,000 families, and over 880,000 agricultural holdings, served as the foundation for the update. Additionally, it enlarged the classification of economic activity from 85 to 134 categories and included more than 60 administrative data sources.
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