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FINANCIAL NEWS
Saudi Q4 GDP expands 6.64%
12 Apr 2012
(MENAFN) Saudi Central Department of Statistics and Information said that in 2011’s fourth quarter, the country’s economy expanded 6.64 percent from 2010’s same period, reported Arab News.
The agency added that in the period, the Kingdom’s oil sector grew 6.13 percent, whereas its gross domestic product (GDP) increased to USD22.03 billion.
It also said that the state sector grew 3.6 percent in the quarter, while the private sector expanded 9.9 percent, with its GDP reaching USD22.03 billion, compared with USD27.39 billion.
It is worth noting that real estate expansion and heavy government spending on infrastructure drove the Kingdom’s construction sector’s growth to 13.3 percent.
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