Saudi Arabia Q1 GDP Growth Revised Up to 3.4%

Saudi Arabia’s economy expanded by 3.4% year-on-year in the first quarter of 2025, revised up from an initial estimate of 2.7%, but slowing from 4.4% growth in the previous period.

This was weighed down by a decline in oil activity (-0.5% vs +3.5% in Q4).

Meanwhile, growth accelerated in non-oil activities (4.9% vs 4.8%) and government services (3.2% vs 1.7%).

Among economic sectors, notable slowdowns in output growth were seen in manufacturing (4% vs 7%) and construction (3.2% vs.

4.1%), while production declined in mining and quarrying (-1.4% vs +0.7%).

In contrast, agriculture, forestry, and fishing grew by 3.3% from 3% in the previous quarter.

On a seasonally adjusted quarterly basis, GDP grew by 1.1%—the fastest pace since Q1 2024—picking up from a 0.9% expansion in Q4.