Saudi Arabia’s Non-Oil Sector Now Powers 56% of Real GDP, Says Minister

Saudi Arabia’s non-oil sector has become the main driver of the Kingdom’s economy, now contributing 56% of its real GDP, according to Minister of Economy and Planning Faisal Alibrahim.
Speaking at the Berlin Global Dialogue, Alibrahim said the Kingdom’s direct and indirect dependence on oil has fallen from over 90% to 68%, reflecting the progress of Saudi Vision 2030 in building a more diversified and sustainable economy.
He emphasized that Saudi Arabia’s transformation is still in its early stages but already shows stronger productivity and resilience. The country recently raised its 2026 growth forecast to 4.6%, up from 3.5%, largely due to the expansion of non-oil industries such as tourism, logistics, and technology.
Alibrahim also highlighted the importance of maintaining strategic global partnerships, noting that the U.S. remains Saudi Arabia’s oldest trading partner while China is its largest. He stressed that the government’s role in the economy should be “measured,” aiming to reduce risks for the private sector without hindering competitiveness or innovation.
Looking ahead, the minister reaffirmed the Kingdom’s commitment to a rules-based global system and long-term market stability, underscoring that Saudi Arabia’s economic reforms are focused on institutional strength, efficient policy direction, and sustainable growth.