Saudi Arabia's non-oil activities accounted for 52% of the country's real GDP in the third quarter of 2024, according to Finance Minister Mohammed Al-Jadaan.

This growth, driven by private sector investment and exports, underscores the Kingdom's ongoing economic diversification efforts.

Al-Jadaan made these remarks while chairing a Saudi-German roundtable meeting in Riyadh, aimed at strengthening bilateral economic relations.

He highlighted Saudi Arabia's role as a significant economic partner for Germany and stressed the Kingdom's economic resilience, marked by a low debt-to-GDP ratio and steady growth in non-oil revenues.

Al-Jadaan also emphasized the success of Vision 2030, particularly in fostering private sector involvement through key legislative reforms.

The meeting, which involved leading private sector companies from both nations, discussed opportunities for joint cooperation in sectors including renewable energy, petrochemicals, mining, healthcare, digital transformation, AI, infrastructure, and tourism.

Saudi Arabia’s strong capital markets were also noted, alongside its position as a major importer of German goods and vehicles.

Representatives from various Saudi government bodies, including the Ministry of Investment and the National Center for Privatization, also presented investment opportunities and recent developments in their sectors.