Riyadh - Sharikat Mubasher: Saudi Arabia’s non-oil activities witnessed a 4.3% year-over-year (YoY) increase during the third quarter (Q3) of 2024 as most economic activities recorded positive growth rates on an annual basis.

Recent figures released by the General Authority for Statistics (GASTAT) showed that wholesale and retail trade, restaurant, and hotel activities achieved the highest growth rate in Q3-24 by 5.8% YoY, followed by the financial, insurance, and business services activities which rose by 5.7%, compared to Q3-23. The construction activities also jumped by 4.6% YoY in Q3-24.

Further, the Kingdom’s gross domestic product (GDP) rose by 2.8% in Q3-24, compared to the same quarter of 2023, while seasonally adjusted real GDP grew by 0.9% compared to Q2-24.

This remarkable growth in non-oil activities reflects Saudi Arabia’s efforts to position itself as a global leader in sustainable economic development, fostering opportunities that promise a vibrant future for its people and the region.