Latest news and articles about non-oil sector from NEX English
A recent report from Gulf Cooperation Council statistics highlights the vital role of the non-oil sector in promoting balanced growth in Gulf economies. This comes as countries strive to reduce their dependence on oil and diversify their income sources.
Gulf Cooperation Council economies recorded a growth of <strong>2.2%</strong> annually in the third quarter of <strong>2025</strong>, with a real growth rate of <strong>5.2%</strong>. The non-oil sector contributed <strong>78%</strong> to the GDP.
The non-oil private sector in Saudi Arabia experienced a notable recovery in April, with data indicating an increase in economic activity. This growth reflects improved economic conditions in the Kingdom and its efforts to diversify the economy away from oil dependency.
The economy of Saudi Arabia recorded a growth of <strong>2.8%</strong> in the third quarter of this year, led by the non-oil sector. This growth reflects positive transformations in the structure of the Saudi economy.
Reports indicate a significant decline in non-oil business conditions in Saudi Arabia last month, marking the first drop since August 2020. This downturn comes as the Kingdom seeks to diversify its economy away from oil dependency.
Reports indicate that Saudi Arabia's non-oil sector experienced a significant contraction in March 2023, driven by pressures from ongoing regional crises. This contraction highlights the economic challenges facing the Kingdom under current conditions.
Data from Jakarta's statistics agency reveals that the city's exports in February 2026 reached <strong>$1.35 billion</strong>, marking a <strong>10.55%</strong> decrease compared to the same month last year. This decline is attributed to a drop in non-oil sector exports.