Riyadh – Sharikat Mubasher: The General Authority for Statistics has recently released the real GDP Flash Estimates Publication for Q2 of 2024.

 The report showed that there was a growth of 4.4% in non-oil activities and 3.6% in government activities, while the real GDP shrank by 0.4% from the second quarter of 2023, and the 8.5% drop in oil-related activities was a contributing factor.

Unlike the first quarter of 2024, the seasonally adjusted real GDP increased by 1.4% in Q2 of 2024.

Saudi Arabia, the world's top oil exporter, is in the midst of a massive economic overhaul known as Vision 2030 aimed at ending its reliance on oil requiring hundreds of billions in investment to develop new economic sectors and more sustainable revenue streams.