Saudi GDP exceeds SR 2.2 trillion

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03-Oct-2012

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The General Statistics Department of Saudi Arabia has reported a gross domestic product exceeded SR 2.2 trillion in 2011, with a growth rate of 31 percent in current prices, compared to the previous year. Nonoil exports rose 31 percent to SR 176 billion, which accounted for eight percent of the GDP, the report added. The Kingdom's total exports in 2011 amounted to more than SR 1.41 trillion, the department said while highlighting Saudi Arabia's remarkable economic progress. The number of working Saudis within the age limit of 15-65 would reach 61.2 percent by the end of this year, against 47 percent in 1992, the report pointed out. Saudis within the age group of 20-40 would reach 66.4 percent of the total national workforce this year, it added. According to preliminary reports, the Kingdom's GDP grew 5.94 percent in the first quarter of 2012. "Preliminary information shows GDP in the first quarter of 2012 grew by 15.96 percent.

 

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