Saudi-Arabien BIP Veränderung zum Vorjahr

Saudi Arabia’s economic growth was revised higher to 4.5% yoy in Q4 2024, up from preliminary estimates of 4.4%, accelerating from a 2.8% expansion in Q3. This marks the second consecutive quarter of growth and the fastest since Q4 of 2022, boosted by gains across all major economic sectors. Oil output expanded by 3.4% after stalling in Q3, while growth in non-oil activities accelerated to 4.7% from 4.3%. Meanwhile, government activities grew solidly (2.2% vs 3.1% in Q3). By sector, output expanded faster mainly for manufacturing (7.6% vs 1.6%) and electricity, gas, and water (7.4% vs 1.7%). On the expenditure side, exports (5.2% vs 3.0%) and imports (11.5% vs 7.3%) rose more, while household spending grew by 3.9%. By contrast, fixed investment and government spending fell by 2.2% and 6.6% each. On a seasonally adjusted quarterly basis, GDP advanced by 0.5%, down from a 0.9% gain in Q3. For the full year, Saudi’s economy advanced by 1.3%, rebounding from a 0.8% contraction in 2023.