Saudi Arabia’s oil sector gross domestic product (GDP) plunged 40 per cent from 1.081 trillion Saudi riyals (Dh1.058 trillion) in 2008 to 647 billion riyals in 2009.

The kingdom’s gross domestic income from oil production fell to 46.7 per cent from 60.7 per cent during the last year.

However, GDP from the non-oil sector reported an increase of five per
cent to 723 billion riyals from 685 billion riyals the previous year,
according to the data released by the General Statistics Bureau.

The report showed that the volume of private sector income in GDP rose
2.8 per cent from 440 billion riyals in 2008 to 452 billion riyals in
2009.

The private sector’s contribution to GDP rose from 24 per cent to 32 per cent during the period.

At the same time, the public sector’s contribution to GDP rose from 13.8 per cent to 19.5 per cent during the period.

The aggregate GDP from both the sectors grew 22.4 per cent to 1.766 trillion riyals from 1.370 trillion riyals.

Total contributions of these sectors to the GDP, however, declined from 99.2 per cent in 2008 to 99 per cent.

Source: GulfNews

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