Saudi Arabia: Non-oil activity record highest level in its history
Hyderabad, March 15 -- The Kingdom of Saudi Arabia's non-oil activities recorded their highest ever contribution to real gross domestic product (GDP) during 2023, at 50 percent.
According to a statement by the Saudi General Authority for Statistics, the total non-oil economy reached 1.7 trillion Saudi Riyals at constant prices, driven by continued growth in investment, consumption and exports.
The non-oil GDP percentage was achieved through exceptional real non-government investment performance in the past two years, the Saudi Press Agency (SPA) reported.
The value of non-government investments reached its highest ever total of 959 billion Saudi Riyals in 2023, reflecting a growth rate of 57 percent.
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