Saudi Arabia strategic Projects: news, discussions & updates

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ECONOMY

Saudi Arabia GDP rises 4.5 per cent in 2025 to $1.28tn​

Saudi Arabia’s real GDP grew 4.5 per cent in 2025 to $1.28tn as oil, non-oil and government sectors expanded, GASTAT said

Will Milner

Mon 9 Mar 2026

Saudi Arabia’s real gross domestic product (GDP) grew 4.5 per cent in 2025 compared with 2024, supported by expansion across oil, non-oil and government sectors, according to data released by the General Authority for Statistics (GASTAT).


I cannot post the entire article as it is behind a paywall.

Another one - same problem:

POLITICS

Saudi non-oil exports rise 18.6% in Q4 as re-exports surge​

Growth in machinery and electrical equipment shipments drives expansion, while petroleum’s share of total exports declines
Kath Young
Thu 26 Feb 2026

Saudi Arabia’s non-oil exports, including re-exports, increased by 18.6 per cent in the fourth quarter of 2025 compared with the same period a year earlier, according to the International Trade Bulletin issued by the General Authority for Statistics.

 
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...

I can't see any decoupling:

YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT

I think people are getting confused. The overall exports have been gaining and people are only looking at the percentage increase of non-oil exports but ignoring the percentage increase of oil exports.

It's pretty much over 70% for the lady 10-years. The exception was 2020 due to Covid-19 that was in regained in 2022.
 
I can't see any decoupling:

YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT

I think people are getting confused. The overall exports have been gaining and people are only looking at the percentage increase of non-oil exports but ignoring the percentage increase of oil exports.

It's pretty much over 70% for the lady 10-years. The exception was 2020 due to Covid-19 that was in regained in 2022.
ChatGPT is notorious for not being accurate.

Saudi Arabia is actively reducing its oil dependence,, with non-oil economic activity growing to represent over 57% of GDP by early 2025, driven by Vision 2030 reforms. The kingdom is decreasing domestic oil usage through renewable energy projects (aiming for 130 gigawatts by 2030) and expanding non-oil revenue, which surpassed SAR 502 billion in 2024, aiming to shift economic focus toward AI, tech, and tourism.

IMF (official source):


Key Aspects of the Shift
  • Declining Domestic Oil Burn: Saudi Arabia is transitioning its power sector away from crude- and fuel oil-fired generators towards renewable energy and natural gas, aiming to free up more oil for export.
  • Vision 2030 Impact: Non-oil revenue has increased from SAR 164 billion in 2015 to over SAR 502 billion in 2024, as noted in a report from EQS News.​

  • Infrastructure Investment: Investment is being directed into AI, high-technology, and sustainable energy projects (e.g., ACWA Power) as part of economic diversification.
  • Non-Oil Economy Momentum: The non-oil economy remained resilient in 2025 despite fluctuating global oil prices, indicating success in diversifying revenue sources, says a report from the International Monetary Fund (IMF).
  • Challenges and Progress: Despite progress, the government still relies on oil for about 60% of its budget, notes The Guardian. Growth in the non-oil sector is projected to continue in 2026, even amidst a predicted budget deficit, according to a Bloomberg.com article

Saudi Arabia’s diversification under
Vision 2030 has significantly reduced oil dependency, with non-oil activities contributing over 50% of GDP in 2023. Key achievements include surging female labor participation (35.4% in 2024), a booming tourism sector, massive renewable energy projects, and a non-oil GDP growth rate reaching 4.93% in early 2023, transforming the kingdom into a multifaceted economy.
المنصة الوطنية +5
Key Diversification Achievements & Metrics (as of 2024–2025):
  • Economic Growth: Non-oil revenue has consistently increased, with non-oil GDP growth rising from 1.82% in 2016 to 4.93% in the first half of 2023.
  • Labor Market Transformation: Female participation in the workforce soared from 17% in 2017 to 35.4% by Q3 2024. Overall, the Saudi unemployment rate dropped from 12.3% in 2016 to 7.1% by Q3 2024.
  • Tourism and Leisure: The kingdom ranked first globally in the growth rate of international tourist arrivals during Q1 2025, with tourism spend contributing roughly SAR49.4 billion in that quarter alone.
  • Renewable Energy & Technology: Major investments are ongoing, including the Sudair Solar PV (1.5 GW) and Dumat Al Jandal Wind Farm (400 MW), aiming for a robust green energy sector. The Public Investment Fund (PIF) has grown its assets from

    billion in 2016 to


    billion in 2024.
  • Industrial Expansion: The National Industrial Strategy focuses on 12 key sectors, including petrochemicals, mining, and advanced manufacturing.
  • SME Growth: More than 1.27 million small and medium-sized enterprises (SMEs) were registered by 2023.
  • Social Reform: The removal of travel restrictions on women and liberalization of social laws have fostered a more open economy.
    المنصة الوطنية +5
These efforts have led to improved international confidence, with rating agencies upgrading the kingdom’s credit rating due to reduced oil dependency.
Global Business Outlook

In other words - things are moving, continuously, in the right direction and at a rapid pace. All those achievements have occurred within less than 6-7 years and we are talking about something that is permanent and will only increase by each year.

Once KSA enters the gas, mining and hydrogen market on a large scale, even more money and investments can be put into diversification. KSA betting hugely on AI (one of the few AI pioneers outside of the West and China), will also help KSA's future position in an AI-dominated world.

KSA has one of the highest annual economic growth rates in the G-20. The world's fastest growing sovereign wealth fund (PIF) whose assets grew by 226 billion USD within 12 months.

PIF assets rise to $1.15T​


02/01/2026 Argaam

PIF assets rise to $1.15T

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) ranked fifth among the world’s largest sovereign wealth funds (SWFs), after its net assets amounted to $1.15 trillion, recent data from the SWF Institute showed.

PIF's assets rose by $226 billion from $925 billion by the end of December 2024.


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Even during this current conflict, speaking about oil, KSA is making a fortune:

Saudi oil driller ADES expects 44% earnings rise despite Iran war

  • Top oil exporter Saudi Aramco has cut its oil output by 20% from two offshore fields and rerouted 7 million barrels per day
Reuters Published about 5 hours ago

 
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ChatGPT is notorious for not being accurate. ...
Which figures are incorrect. ...

YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT
 
As I wrote to you ChatGPT is often notoriously inaccurate when it comes to such data. ...

ChatGPT used the following primary sources.
Screenshot_20260325-172144.ChatGPT.png

Can you please point out which figure for which year is incorrect so I can research it?

YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT
 
ChatGPT used the following primary sources.
View attachment 188214

Can you please point out which figure for which year is incorrect so I can research it?


YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT
It is demonstratively wrong:

As I wrote to you ChatGPT is often notoriously inaccurate when it comes to such data.

I find it strange that every source other than ChatGPT (that provides no sources whatsoever for its data) that I have posted, IMF, World Economic Forum etc. (read post 1218) is wrong but ChatGPT is not which does not provide any references for its supposed data?

Even Wikipedia and the references used disagrees with ChatGPT and confirms what all the sources that I have posted also say.

Saudi Arabia is a high-income developing economy highly reliant on its petroleum sector. Oil and gas account for approximately 22.3% of Saudi GDP and 55% of government revenue, with substantial fluctuations depending on oil prices each year.<a href="https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia#cite_note-:02-15"><span>[</span>14<span>]</span></a><a href="https://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia#cite_note-16"><span>[</span>15<span>]</span></a>


The CHATGPT data is 100% wrong.

Another evidence of this:

Saudi Arabia sees record growth in non-oil exports in H1 2025: minister​

Source: Xinhua

Editor: huaxia

2025-12-16 22:19:15

RIYADH, Dec. 16 (Xinhua) -- Saudi Arabia posted its strongest first-half performance in non-oil exports, reaching 307 billion riyals​


Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef described the figure as the highest semiannual growth on record, reflecting the kingdom's ongoing efforts to diversify its economy, according to the SPA.

Speaking at the Made in Saudi Expo 2025, Al-Khorayef said initiatives under Saudi Vision 2030 have bolstered non-oil exports by strengthening industrial capabilities, enhancing product quality, and expanding access to global markets.

By comparison, Saudi Arabia's non-oil exports reached approximately 515 billion riyals in 2024, a record annual figure representing a 13 percent increase over 2023.

The third Made in Saudi Expo 2025 opened Monday in Riyadh, with Syria serving as the Guest of Honor. The exhibition runs through Wednesday and features more than 25 workshops, alongside over 50 planned memoranda of understanding.


That is already more (just for half of 2025) than what your CHATGPT data claims for ALL of 2025.

So, yes, definitely wrong data which multiple sources, very credible at that too, confirms.

I have posted data from 5-10 sources by now, including highly reputable sources, as well as actual economic reports. I prefer to believe that rather than ChatGPT numbers.
 
It is demonstratively wrong:
I don't know why you're dodging the question. It's not a tricky question.

... As I wrote to you ChatGPT is often notoriously inaccurate when it comes to such data.

I find it strange that every source other than ChatGPT (that provides no sources whatsoever for its data) that I have posted, IMF, World Economic Forum etc. (read post 1218) is wrong but ChatGPT is not which does not provide any references for its supposed data? ...
You just copied and the pasted your previous post without even reading it fully.

Here's the sources that ChatGPT used to generate the table.

Screenshot_20260325-172144.ChatGPT.png
As you can see it's gathered data from the IMF, World Bank, GASTAT and Saudi Central Bank. These are only primary sources. There are others too.

You can always ask ChatGPT to list the resources for the information.

Saudi Arabia is a high-income developing economy highly reliant on its petroleum sector. Oil and gas account for approximately 22.3% of Saudi GDP and 55% of government revenue, with substantial fluctuations depending on oil prices each year. ...
That's % of GDP. What is the percentage of total exports?

Saudi Arabia sees record growth in non-oil exports in H1 2025: minister​

Source: Xinhua

Editor: huaxia

2025-12-16 22:19:15

RIYADH, Dec. 16 (Xinhua) -- Saudi Arabia posted its strongest first-half performance in non-oil exports, reaching 307 billion riyals​

... By comparison, Saudi Arabia's non-oil exports reached approximately 515 billion riyals in 2024, a record annual figure representing a 13 percent increase over 2023.


That is already more (just for half of 2025) than what your CHATGPT data claims for ALL of 2025.
Those figures are in Saudi Royals, not US dollars.

... I have posted data from 5-10 sources by now, including highly reputable sources, as well as actual economic reports. I prefer to believe that rather than ChatGPT numbers.
I don't think you know what you're posting.

You can check and verify the figures on the World Bank website.

Here's a graph from the World Bank page:

Screenshot_20260325-175113.Chrome.png
It's the shows figure:
2016 - around $185 billion
2018 - around $295 billion
2020 - around $180 billion
2022 - around $410 billion

Now look at the table from ChatGPT for these years and confirm whether they are totally wrong or pretty much the same. I can see the 2022 figure is slightly higher...

YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT
 
I don't know why you're dodging the question. It's not a tricky question.


You just copied and the pasted your previous post without even reading it fully.

Here's the sources that ChatGPT used to generate the table.

View attachment 188220
As you can see it's gathered data from the IMF, World Bank, GASTAT and Saudi Central Bank. These are only primary sources. There are others too.

You can always ask ChatGPT to list the resources for the information.


That's % of GDP. What is the percentage of total exports?


Those figures are in Saudi Royals, not US dollars.


I don't think you know what you're posting.

You can check and verify the figures on the World Bank website.

Here's a graph from the World Bank page:

View attachment 188222
It's the shows figure:
2016 - around $185 billion
2018 - around $295 billion
2020 - around $180 billion
2022 - around $410 billion

Now look at the table from ChatGPT for these years and confirm whether they are totally wrong or pretty much the same. I can see the 2022 figure is slightly higher...


YearTotal ExportsOil Exports%
2016$184 billion$131 billion71%
2017$221 billion$158 billion72%
2018$294 billion$226 billion77%
2019$261 billion$191 billion73%
2020$183 billion$123 billion67%
2021$286 billion$221 billion77%
2022$446 billion$349 billion78%
2023$371 billion$285 billion77%
2024$309 billion$223 billion72%
2025$325 billion$240 billion74%

Source: ChatGPT
There is little point in going back and forth. I posted numerous sources that confirm what I say and you have posted your ChatGPT sources.

I know that this data that you posted is wrong because numerous sources confirm this. A good example:

Your ChatGPT data for 2025, claims that non-oil exports were "only" 85 billion USD for the entire 2025.

I posted an article from official Chinese media quoting official Saudi Arabian government data confirmed by a minister that shatters this data that your ChatGPT provides.

It clearly states that for the first 6 months of 2025, KSA exported 307 billion riyals (about 81.87 billion U.S. dollars).

Let me quote the first part of the article:

"RIYADH, Dec. 16 (Xinhua) -- Saudi Arabia posted its strongest first-half performance in non-oil exports, reaching 307 billion riyals (about 81.87 billion U.S. dollars) in the first half of 2025, the Saudi Press Agency (SPA) reported Tuesday."​


So I am now supposed to believe that for the rest of 2025 (July 1 to December 31), KSA only exported 3.13 billion USD in non-oil exports, while from January 1 to June 30 2025, this number was 81.87 billion USD?


Can you see the problem now with your ChatGPT data?
 
There is little point in going back and forth. I posted numerous sources that confirm what I say and you have posted your ChatGPT sources.

I know that this data that you posted is wrong because numerous sources confirm this. A good example:

Your ChatGPT data for 2025, claims that non-oil exports were "only" 85 billion USD for the entire 2025.

I posted an article from official Chinese media quoting official Saudi Arabian government data confirmed by a minister that shatters this data that your ChatGPT provides.

It clearly states that for the first 6 months of 2025, KSA exported 307 billion riyals (about 81.87 billion U.S. dollars).

Let me quote the first part of the article:

"RIYADH, Dec. 16 (Xinhua) -- Saudi Arabia posted its strongest first-half performance in non-oil exports, reaching 307 billion riyals (about 81.87 billion U.S. dollars) in the first half of 2025, the Saudi Press Agency (SPA) reported Tuesday."​


So I am now supposed to believe that for the rest of 2025 (July 1 to December 31), KSA only exported 3.13 billion USD in non-oil exports, while from January 1 to June 30 2025, this number was 81.87 billion USD?


Can you see the problem now with your ChatGPT data?
Fair enough. For 2025, I should've mentioned it was an estimate as the full year official data wasn't retrievable for 2025.

ChatGPT did confirm this for 2025 but I forgot to mention it in the table.

Screenshot_20260325-223844.ChatGPT.png

Screenshot_20260325-223536.ChatGPT.png

For 2025, we do not have a full year's data, so we can wait.

Saying that, the previous years data that I pointed out seems to pretty match between ChatGPT and Work Bank data.
 
Fair enough. For 2025, I should've mentioned it was an estimate as the full year official data wasn't retrievable for 2025.

ChatGPT did confirm this for 2025 but I forgot to mention it in the table.

View attachment 188302

View attachment 188305

For 2025, we do not have a full year's data, so we can wait.

Saying that, the previous years data that I pointed out seems to pretty match between ChatGPT and Work Bank data.
It would be strange if it was not at least a similar number as the first half part of 2025 or in fact even more given the ongoing trajectory.

Overall KSA is moving in the right direction which most economic and underlying data confirms.

Well said:

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Which is why they will be removed or reformed by force.

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On a related note, Ukrainian forces appear to be at the forefront of recent developments in this area. Their innovations have been particularly impressive.

Ukraine has demonstrated exceptional capability in this domain, and its operational experience, along with intelligence-sharing, is highly valuable. KSA has maintained positive relations with Ukraine and is regarded as a trusted partner.

There are also reports suggesting that Ukrainian operators may be present in KSA and elsewhere in the GCC to assist with training local personnel while we speak.

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Additionally, Faisal Abbas, the director of Arab News, has frequently appeared on American and Western media platforms throughout the conflict.

Most interesting he reported that the Ukrainian military has achieved considerable success in countering Russian drones using low-cost drones costing approximately $1,000 to produce. KSA will seek to acquire similar technology while providing economic support to Ukraine in return.

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Most interesting he reported that the Ukrainian military has achieved considerable success in countering Russian drones using low-cost drones costing approximately $1,000 to produce. KSA will seek to acquire similar technology while providing economic support to Ukraine in return.

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lol

Thats a Turkish company working in Ukraine, what are you going to seek...:ROFLMAO:

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He added, "The Houthis do not control the Bab el-Mandeb Strait, but they can still disrupt shipping in the Red Sea. At the same time, they seem to view Iran as a dead horse and are cautious about betting too heavily on it."
 
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Truly a Saudi Arabian engineering marvel. Same thing with our water infrastructure. Which is why our seawater desalination infrastructure cannot be destroyed.

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Saudi Arabia records remarkable growth in non-oil trade during January​


Thursday 26 March 2026 11:18am News / Economic News

Data from the General Authority for Statistics in Saudi Arabia showed today, Thursday, that non-oil exports, including re-exports, increased by 22.1% in January compared to the same month last year, indicating a continued shift in the structure of foreign trade within Saudi Arabia.

Conversely, national non-oil exports, excluding re-exports, recorded a decline of 9.9% in Saudi Arabia, while the value of re-exported goods rose significantly to reach 95.5% during the same period within the country.

The value of non-oil exports, excluding re-exports, amounted to approximately 16.74 billion riyals in Saudi Arabia, while the value of re-exports reached 15.83 billion riyals in January, reflecting a notable activity in indirect trade within the country.

In terms of goods exports, they increased by 1.4% to reach 98.718 billion riyals in Saudi Arabia compared between January 2025 and 2026, while oil exports decreased by 6.4% to record 66.146 billion riyals within the country.

The share of oil exports from total exports in Saudi Arabia also declined from 72.6% to 67% during the same period, reflecting a gradual change in the structure of the commercial economy within the country.

On the import side, Saudi Arabia recorded an increase of 6.5% to reach 81.42 billion riyals, leading to pressure on the trade balance despite growth in some non-oil sectors.

As a result, the trade surplus in Saudi Arabia fell by 17.5% to about 17.298 billion riyals, due to the varying performance of exports and imports during the observed period within the country.

The ratio of non-oil exports, including re-exports, to imports in Saudi Arabia increased to 40% compared to 34.9%, driven by growth in re-exports contrasted with a lesser increase in imports within the country.

Data released from Saudi Arabia illustrates a continued economic shift towards diversifying income sources away from oil, with clear growth in non-oil exports and re-exports. Despite the decline in trade surplus, indicators point to increasing dynamism in foreign trade within the country, driven by rising imports and a gradual change in the structure of exports.

Read more about Saudi Arabia records remarkable growth in non-oil trade during... - News source:https://www.arabictrader.com/en/news/economy/212515
 

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