It has grown to 1.7 trillion Saudi riyals (approximately 453.3 billion dollars) thanks to the constant growth of investments, consumer services, and exports in the country
The non-oil sector’s percentage in Saudi Arabia’s GDP structure reached the highest level in the kingdom’s history in 2023 at 50%. This was reported by RIA Novosti citing the kingdom’s Ministry of Economy. This share grew to 1.7 trillion Saudi riyals (approximately 453.3 billion dollars) thanks to the constant growth of investments, consumer services, and exports in the country.
Over the past two years, the volume of non-governmental investments in Saudi Arabia’s non-oil sector increased by 57% to 959 billion riyals (approximately 255.7 billion dollars).
According to the Kingdom’s Ministry of Economy, the sectors that showed the highest growth in the non-oil sector last year were social services (healthcare, education), and entertainment activities at 10.8%, transportation and communications at 7.3%, and trade, restaurants, and hotels at 7%.