Saudi Arabia’s services sector showed variability due to its oil-dependent economy. The sector’s share fluctuated from in 1990 to a low of in 2008, reflecting the dominance of oil revenues. However, Vision 2030 and economic diversification efforts have significantly boosted the services sector. From 2015, services rose to over of GDP, peaking at in 2016 as the government promoted tourism, financial services, and entertainment. The COVID-19 pandemic briefly raised this figure to in 2020 due to disruptions in other sectors. By 2022, services contributed , indicating a recalibration as the economy rebalanced post-pandemic and oil demand surged.
Find out more through related statistics on Saudi Arabia’s agriculture share in GDP, Saudi Arabia’s unemployment rate trends, Saudi Arabia’s annual GDP figures.
