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Saudi Arabia's Economy Diversifies: Non-Oil Activities Hit 55% GDP

1/23/2026

Summary

Story summary

Faisal Alibrahim, Minister of Economy and Planning, says non-oil activities now account for about 55% of GDP.
Oil revenue's contribution declined from 90% to 68% over the past decade.
This shift supports long-term diversification under Crown Prince Mohammed bin Salman, toward renewable energy and tourism.
The government aims to cut crude export dependence by involving the private sector in projects and spending toward efficiency instead of luxury developments.

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Story summary

Faisal Alibrahim, Minister of Economy and Planning, says non-oil activities now account for about 55% of GDP.
Oil revenue's contribution declined from 90% to 68% over the past decade.
This shift supports long-term diversification under Crown Prince Mohammed bin Salman, toward renewable energy and tourism.
The government aims to cut crude export dependence by involving the private sector in projects and spending toward efficiency instead of luxury developments.