Saudi Arabian GDP posts massive 31 per cent increase

Saudi Arabia’s gross domestic product grew by 31 per cent in 2011, according to a new report

Saudi Arabia’s gross domestic product at current prices (including import duties) recorded a rise of 31 percent to SR 2.24 trillion ($7 billion) in 2011, according to the 48th annual report of Saudi Arabian Monetary Agency, which was released yesterday.

Finance Minister Dr. Ibrahim Al-Assaf presented a copy of the report to Custodian of the Two Holy Mosques King Abdullah. The oil sector GDP rose by 47.7 percent to SR 1.28 trillion in 2011, the report said.