Saudi Arabia: Real GDP Grew by 4.4% in Q4 of 2024

GDP achieved a growth rate of 4.4% compared to the same period of the previous year
GDP achieved a growth rate of 4.4% compared to the same period of the previous year
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Saudi Arabia: Real GDP Grew by 4.4% in Q4 of 2024

GDP achieved a growth rate of 4.4% compared to the same period of the previous year
GDP achieved a growth rate of 4.4% compared to the same period of the previous year

Saudi Arabia’s General Authority for Statistics (GASTAT) issued flash estimates of the real Gross Domestic Product (GDP) for the fourth quarter of 2024, saying it achieved a growth rate of 4.4% compared to the same period of the previous year.

This marked the highest growth rate in the last two years driven by the main economic activities.

The estimates also showed that non-oil activities achieved a growth rate of 4.6%, oil activities of 3.4%, and government activities of 2.2%, compared to the same period of the previous year.

Additionally, the seasonally adjusted real GDP increased by 0.3% in the fourth quarter of 2024 compared to the third quarter of the same year.



Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
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Saudi Arabia Assumes WTO General Council Presidency for 2025–2026

The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)
The General Council of the World Trade Organization (WTO) unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. (SPA)

The General Council of the World Trade Organization (WTO) has unanimously appointed Permanent Representative of Saudi Arabia to the WTO Saqer bin Abdullah Al-Moqbel as its president for the 2025–2026 term. In a historic milestone, Al-Moqbel becomes the first Arab and Middle Eastern delegate to assume this position, reported the Saudi Press Agency on Wednesday.

The WTO General Council, which convenes throughout the year, oversees the organization’s operations between ministerial conferences, held biennially. As the highest decision-making body at the level of heads of missions, the council plays a crucial role in shaping global trade policies.

During Saudi Arabia's presidency, the General Council is set to address several key issues, including preparations for the 14th Ministerial Conference, scheduled to be held in Cameroon in March 2026.

The agenda will also focus on essential WTO reforms, particularly the dispute settlement mechanism; advancing negotiations on the second phase of the Fisheries Subsidy Agreement; and addressing agriculture, food security, and development concerns.

Other priorities include integrating multilateral agreements, such as the Investment Facilitation for Development Agreement and the E-Commerce Agreement, into the WTO framework.

Commenting on the appointment, Al-Moqbel emphasized that Saudi Arabia’s leadership in the WTO General Council reflects its growing role in the international economic landscape, leveraging its global economic influence to strengthen multilateral trade cooperation.