Saudi Arabia yesterday released its annual report detailing the progress made towards achieving its Vision 2030 goals in 2025, underscoring continued momentum in the kingdom’s long-term transformation strategy.
Spearheaded by Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud, Vision 2030 was launched in 2016 to reduce the country’s dependence on oil, diversify its economy, and develop key public service sectors including health, education, infrastructure, recreation and tourism.
Saudi Arabia’s economy between 2016 and 2025 saw accelerated growth and greater resilience driven by Vision 2030, according to the annual report, with reforms strengthening institutions, boosting private sector participation, and expanding non-oil activity.
Non-oil sectors now account for more than half of GDP, while real GDP growth reached 4.5 per cent in 2025, supported by broad-based expansion across the economy.
The report highlighted key economic gains, noting that Saudi Arabia’s GDP reached 4.9 trillion riyals ($1.3trn) by the end of 2025, exceeding the interim target.
It also said more than 700 international companies have established regional headquarters in the kingdom, while the localisation of military industries has reached 24.89pc, up from 7.7pc in 2016.
Private sector contribution to GDP rose to 51pc, while non-oil GDP expanded to $892 billion, reflecting sustained diversification.
Non-oil exports reached record levels, and financing to small and medium enterprises climbed to 11.3pc of total bank loans, exceeding targets, as the kingdom continued to strengthen its private sector ecosystem.
The report also noted stable inflation at around 2pc and a decline in Saudi unemployment to 7.2pc, marking its lowest level to date, supported by job creation and labor market reforms.
On the social front, the report showed continued improvements in housing and quality of life.
The homeownership rate among Saudi households increased from 47pc in 2016 to more than 66pc by the end of 2025, surpassing annual targets and supported by expanded mortgage access and housing supply.
&uuid=(email))