Economy and macroUpdated November 2

Saudi Q3 real GDP fell 3.8% year on year

GASTAT’s preliminary flash estimates put Saudi Arabia’s real GDP 3.8% lower in the third quarter of 2026 than a year earlier, Saudi Gazette reported. Oil activities contracted 20.4%, while government activities fell 2.7%. Non-oil activities grew 1.9%, contributing 1.1 percentage points and partially offsetting the annual decline. On a separate, seasonally adjusted comparison with the previous quarter, real GDP increased 1.3%; oil activities rose 5.7% and non-oil activities 0.6%. The quarterly increase and annual contraction describe different comparison periods. GASTAT’s flash estimates are preliminary calculations released before complete quarterly data is available.

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Coverage started November 1