Jan 30, 2025
ABU DHABI - Saudi Arabia's economy returned to growth in 2024, with real gross domestic product increasing 1.3% compared to the prior year, showed preliminary government data released on Thursday.
GDP growth surged 4.4% in the fourth quarter versus the same period a year earlier, estimates from the General Authority for Statistics showed, with non-oil activity increasing 4.6%.
The Saudi economy shrunk 0.8% in 2023 as oil production cuts and lower oil prices hit growth in the world's biggest crude exporter.