• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Friday, May 9
06:21
25 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeEconomySaudi Non-Oil Sector Growth Persists

Saudi Non-Oil Sector Growth Persists

March sees robust activity despite slight slowdown in PMI

April 6, 2025
in Economy
Reading Time: 1 min read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

Saudi Arabia’s non-oil private sector continued to expand in March, driven by increased orders due to lower prices and better economic conditions. Although growth slowed from January’s peak, the Purchasing Managers’ Index (PMI) still indicated robust activity at 58.1, down slightly from 58.4 in February.

The subindex for new orders fell to 63.2, down from February’s high of 65.4. Despite this deceleration, businesses increased stockpiling in anticipation of ongoing sales growth.

RelatedPosts

Saudi Arabia’s Hydrogen Economy: Leading the Clean Energy Shift

Saudi Arabia’s Fiscal Stability Amid Low Oil Prices

Saudi Economic Growth Slows Amid Oil Price Drop

Employment rose as companies sought to enhance capacity, marking the strongest quarter for job creation in over a decade. Riyad Bank’s chief economist, Naif Al-Ghaith, noted that improved conditions are supported by government initiatives to strengthen regulatory frameworks and infrastructure, encouraging private and foreign investments.

As part of the Vision 2030 plan, Saudi Arabia aims to boost the non-oil sector’s GDP contribution to 65% by 2030, currently over 50%. In March, input cost inflation hit a four-year low, leading companies to lower prices for the first time in six months amidst strong competition.

Work backlogs increased significantly, the highest since August 2018, due to rising orders and limited capacity. However, there was a noticeable decline in business activity expectations for the coming year within the non-oil sector.

Tags: economic growthnon-oil sectorPMIsaudi arabiaVision 2030
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version