Saudi Arabia’s statistics center reported a 4.8% decline in the country’s gross domestic product in the second quarter of 2026, roughly equivalent to this year’s spring.

According to this report, in the first three months of the Middle East war, activity in the oil industry in this country fell by almost 25%.

OPEC statistics had previously assessed the drop in Saudi oil production in this year’s spring at the same level; although Saudi Arabia’s oil revenues also increased due to a surge in oil prices.

Reuters writes that most countries in the Arab Gulf are facing negative economic growth because the Islamic Republic has blocked the Strait of Hormuz and because the Islamic Revolutionary Guard Corps has carried out attacks on ships and on the region’s economic infrastructure.

It appears that, apart from Oman, which is located outside the Strait of Hormuz, the economies of all the countries in the region became smaller in this year’s spring.