Saudi Arabia’s first-quarter GDP grows by 3.4 percent, beating flash estimates

Saudi Arabia’s economy grew by more than expected in the first quarter of 2025, according to government data estimates, with lower oil prices impacting the economy less than previously forecast.

First-quarter GDP grew by 3.4 percent compared to the same quarter of the previous year, beating flash estimates of 2.7 percent released in May by the Saudi General Authority for Statistics.

Oil GDP shrank by 0.5 percent, while initial flash estimates had shown it contracting by 1.4 percent. Non-oil growth reached 4.9 percent compared to estimates last month pointing to a 4.2 percent increase.