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Saudi Arabia’s non-oil economy continued its upward trajectory in March 2025, reflecting strong growth and resilience amid ongoing economic transformation. According to the latest data from the Riyad Bank Purchasing Managers’ Index (PMI), the Kingdom recorded a PMI of 58.1, only slightly down from February’s 58.4, and still well above the neutral 50 mark, indicating robust expansion. Learn more on Saudi Arabia non-oil business sector March 2025.
This sustained performance underscores the Kingdom’s commitment to Vision 2030, the national plan aimed at reducing oil dependency and diversifying its economy.
Key Growth Drivers
The non-oil private sector’s strength in March was driven by:
Surging new orders from both domestic and international markets
Improved supplier delivery times
Higher output across key sectors, especially in services, construction, and manufacturing
Increased employment and wage growth, reflecting improved business confidence
The business optimism index also remained high, suggesting that companies anticipate further growth in the coming months as investment, tourism, and infrastructure projects continue to flourish.
Economic Diversification in Action
The positive PMI reading is a direct result of reforms and investments aligned with Saudi Vision 2030. Government-led initiatives such as the National Investment Strategy, Saudi Green Initiative, and large-scale projects like NEOM and The Line are stimulating non-oil industries and creating a favorable business environment.
Financial analysts note that the non-oil sector now plays a critical role in shaping the country’s GDP, employment, and long-term sustainability goals.
Implications for Investors and Entrepreneurs
The March 2025 PMI results offer promising insights for investors, entrepreneurs, and global partners. The resilience shown by the non-oil sector enhances Saudi Arabia’s reputation as a stable and fast-evolving market in the Middle East.
With business activity expanding at a strong pace, the Kingdom is becoming a magnet for foreign direct investment (FDI), innovative startups, and international collaborations across various industries including logistics, finance, tourism, and digital services.
Conclusion
The performance of the Saudi Arabia non-oil business sector in March 2025 confirms that the country is progressing steadily toward its post-oil vision. With consistent growth, proactive reforms, and investor-friendly policies, Saudi Arabia is paving the way for a more diverse and resilient economy.
