Non oil private sector records a 3.3% growth in 2019

A new report issued by the General Authority for Statistics revealed that Saudi Arabia’s non oil private sector has recorded a 3.3% growth in 2019, compared to the previous year. The growth exceeds expectations and is the biggest in five years, as well as the biggest since Saudivision was announced. 

The new GDP report also revealed that growth was noted in areas such as finance, insurance, business services and personal services. Meanwhile gas, water and electricity recorded the lowest growth rates. 

The report seems to confirm the execution of the Vision 2030 plans, as the Kingdom has been working since 2016 towards diversifying its economy from oil dependence.