Saudi Arabia’s Non-Oil Revenue Shows Strong Growth in 2025
Sherazur Rahman#
Despite global economic challenges and uncertainty, Saudi Arabia’s non-oil revenue saw significant growth in 2025. This growth was driven by the country’s Vision 2030 economic diversification plans. In the first quarter of 2025, non-oil revenue reached around SAR 113.81 billion (around $30.34 billion).
The private sector and service-oriented industries largely supported this growth. While overall government revenue slightly fell due to OPEC+ oil production cuts, non-oil revenue stayed strong. By the third quarter of 2025, it increased by 1% to SAR 119.1 billion (around $31.76 billion).
According to Arab News, during the first nine months of 2025, Saudi Arabia’s total non-oil revenue reached SAR 382.7 billion (around $102.04 billion), compared to oil-dependent revenue of SAR 453.04 billion (around $120.8 billion). This shows the country’s progress in reducing its reliance on oil.
Data from the Saudi Ministry of Finance, IMF, and World Bank shows that non-oil revenue maintained strong growth throughout the first three quarters of 2025. Although there were minor fluctuations in Q3, the sector’s performance remained stable and positive. Official data for Q4 is still to be released, but government projections suggest it will remain balanced.
For perspective, Saudi Arabia’s non-oil revenue was about $44.26 billion in 2015. Through consistent reforms, planned investments, and efficient revenue management, it rose to around $137.39 billion in 2024, according to Reuters.
Under Crown Prince Mohammed bin Salman’s Vision 2030, tax reforms, private sector growth, increases in tourism and entertainment, banking and fintech development, and investments in industry and construction have all bolstered the non-oil sector. This trend is expected to continue into 2026.
Today, the non-oil sector contributes significantly to government revenue and supports the growth of a diverse and stable economy. It is guiding Saudi Arabia toward a sustainable economy under Vision 2030.##Sources: Arab News, Reuters, Arab Gulf Business Insight, IMF