Saudi Arabia Faces Economic Downturn with Sharp GDP Decline

Saudi Arabia experienced a significant economic decline in the second quarter of 2026, with GDP falling 4.8% year-on-year. The non-oil sector saw a sharper decline of 24.7%. This data was reported by Saudi-owned Al-Arabiya TV on Thursday, highlighting challenges in the country's economic diversification efforts.

Saudi Arabia's economy is experiencing turbulence as its GDP plummeted by 4.8% year-on-year in the second quarter of 2026. This marks a significant decline for the kingdom, reflecting challenges in its economic strategies.

The drop is even more pronounced in the non-oil sector, which suffered a staggering decline of 24.7% over the same period. This highlights the difficulties Saudi Arabia faces in diversifying its economy away from its traditional oil dependency.

This data, reported by Saudi-owned Al-Arabiya TV, underscores ongoing challenges as the kingdom navigates economic reforms and attempts to stabilize its revenue streams in a changing global economy.