This paper empirically examines the roles of FDI, credit to the private sector, government investment, and oil prices on Saudi Arabia’s non-oil GDP from 1991 to 2023 by using an ARDL bound test with an error correction model to analyze both short-term and long-term effects. The results reveal a long-term relationship between the regressors and the dependent variable. Specifically, credit and oil prices significantly contribute to non-oil growth, while FDI and government investment have insignificant effects.