RIYADH: Saudi Arabia’s non-oil sector is expected to contribute up to 3.5 percent annually to the Kingdom’s gross domestic product growth between 2025 and 2028, according to an expert from S&P Global.
In an interview with Asharq Al-Awsat, Hina Shoeb, head of analytics, cross practice ratings at S&P Global Saudi Arabia, said that this growing contribution will be supported by both government and private investments in sectors such as real estate, tourism, and infrastructure.
This comes as Saudi Arabia’s real GDP grew 3.9 percent in the second quarter, driven by strong non-oil activity that extended its growth streak to 18 consecutive quarters.
Non-oil sectors rose 4.6 percent year on year in April–June, highlighting the Kingdom’s rapid economic diversification.
She added that the growth of the non-oil sector aligns with the continued economic momentum in the country, resulting from Vision 2030 reforms, which aim to enhance economic diversification and reduce dependence on oil revenues.
