Saudi Economic Growth Slows as Iran War Hits Oil Exports
Saudi Aramco's Ras Tanura oil terminal in Saudi Arabia.
Photographer: Simon Dawson/Bloomberg
Saudi Arabia’s quarterly economic growth rate slowed to its lowest since mid-2024, as the kingdom grapples with the Iran war’s effects on its crucial oil industry.
Gross domestic product expanded 2.8% year-on-year in the three months through March, according to preliminary figures from the General Authority for Statistics on Thursday. That compares with 5% in the previous quarter.