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Saudi Arabia’s Q2 Economic Growth Fueled by Non-Oil Sector Surge

Saudi Arabia’s economy experienced robust expansion in the second quarter, fueled primarily by strong growth in the non-oil sectors.

Data released by the Saudi General Authority for Statistics highlighted significant increases in industries such as manufacturing, construction, and services, underscoring the success of the kingdom’s diversification efforts under Vision 2030.

The surge in non-oil activities helped offset fluctuations in oil prices and production, providing a more resilient economic foundation. Analysts view this trend as a positive sign of Saudi Arabia’s shift toward a more sustainable and diversified economy.

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Officials remain focused on supporting sectors like tourism, technology, and renewable energy to maintain momentum and create new job opportunities for the growing population.

This non-oil growth trajectory signals Saudi Arabia’s commitment to reducing dependence on hydrocarbons while fostering broad-based economic development.

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Staff Report
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