Business · Economy · 1 hr ago
Saudi Arabia’s economic contraction eased to 3.8% in the third quarter
Saudi Arabia’s economy contracted 3.8% year on year in the third quarter, according to official estimates.
The decline was smaller than the 4.8% contraction in the second quarter.
The General Authority for Statistics said the oil sector’s decline eased to 20.4%, from 24.7% in the previous quarter.
Meanwhile, growth in the non-oil sector accelerated to 1.9%, up from 0.6%.
These changes meant the overall economic decline became less severe than in the second quarter.
The figures are estimates; no further steps or updated figures are specified.
Saudi Arabia’s economic contraction eased to 3.8% year on year in the third quarter of 2026.
The decline was smaller than the 4.8% contraction recorded in the second quarter.
The oil sector contracted by 20.4%, compared with 24.7% in the previous quarter.
Non-oil sector growth accelerated to 1.9%, up from 0.6%.
The General Authority for Statistics said improved performance in both sectors supported the smaller decline.
- Who
- Saudi Arabia’s economy, according to estimates from the General Authority for Statistics.
- What
- The economy contracted by 3.8% year on year. The contraction eased from 4.8% in the second quarter.
- When
- The third quarter of 2026; estimates were issued on Sunday, November 1.
- Where
- Saudi Arabia.
- Why
- Better performance in both the oil and non-oil sectors supported the smaller contraction.
This story does not have two clearly opposing sides.
Saudi Arabia’s economy contracted by 4.8% year on year.
The estimated contraction eased to 3.8% year on year.
The General Authority for Statistics issued the estimates.
- Overall contraction
- 3.8% year on year in the third quarter of 2026
- Second-quarter contraction
- 4.8%
- Oil-sector contraction
- 20.4% in the third quarter, compared with 24.7% in the second
- Non-oil sector growth
- 1.9% in the third quarter, compared with 0.6% in the second
- Source of estimates
- General Authority for Statistics