Saudi Arabia’s economy has reached a key economic milestone, as the non-oil sector activities comprised 50 per cent of the country’s real GDP in 2023. This is the highest share ever recorded in the country’s economic activity makeup. This achievement, analysed from data provided by the General Authority for Statistics and the Ministry of Economy and Planning, underscores the kingdom’s ongoing economic diversification efforts. The non-oil economy, valued at SAR1.7tn (approximately $453bn) at constant prices, has been buoyed by growth in investment, consumer spending, and exports. Private-sector investment, in particular, has surged by 57 per cent over the past two years, reaching a record high of SAR959bn ($254bn) in 2023.