Saudi Arabia’s economy grew by more than expected in the first quarter of 2025, according to government data estimates, with lower oil prices impacting the economy less than previously forecast.

First-quarter GDP grew by 3.4% compared to the same quarter of the previous year, beating flash estimates of 2.7% released in May by the Saudi General Authority for Statistics.

Oil GDP shrank by 0.5%, while initial flash estimates had shown it contracting by 1.4%.

Non-oil growth reached 4.9% compared to estimates last month pointing to a 4.2% increase.

Source: Reuters