Saudi Arabia experienced strong economic growth from 2006 to 2012, with nominal GDP growing at an average annual rate of 12.9% from 2006 to 2008. The non-oil private sector grew the most during this period, expanding by 42% in 2009. Crude oil production increased from 8.2 million barrels per day in 2009 to an estimated 9.8 million barrels per day in 2012, and the average price of Arabian Light crude oil rose from $59.47 per barrel in 2009 to an estimated $106.48 per barrel in 2012. Government revenues increased substantially from $509.8 billion in 2009 to an estimated $1,239.5 billion in 2012, resulting in large budget surpluses and growing foreign

1. Saudi Arabia - Economic Indicators (2006 - 2012)
2006 2007 2008 2009 2010 2011r 2012p
Gross Domestic Product-Nominal (SR billion) 1,335.6 1,442.6 1,786.1 1,637.7 1,975.5 2,510.7 2,727.4
Growth in GDP-Nominal (%) 12.9 8.0 23.8 -8.3 20.6 27.1 8.6
GDP Real (1999 prices - SR billion) 786.3 802.2 836.1 1,018.7 1,067.1 1,157.6 1,236.4
Non-Oil Private Sector * 421.9 443.7 465.2 660.7 696.2 753.6 810.2
Non-Oil Government Sector * 139.1 141.8 145.2 152.5 162.9 175.9 185.1
Oil Sector * 216.2 207.3 216.1 195.4 197.4 217.0 229.3
Growth in GDP Real (%) 3.2 2.0 4.2 21.8 4.7 8.5 6.8
Growth in Private Sector (%) 5.9 5.2 4.8 42.0 5.4 8.2 7.5
Growth in Government Sector (%) 1.9 1.9 2.4 5.0 6.8 7.9 5.2
Growth in Oil Sector (%) -1.1 -4.1 4.3 -9.6 1.0 9.9 5.7
Gross Fixed Capital Formation
211.3 251.1 282.8
( 1999 prices - SR billion)
Growth in Gross Fixed Capital Formation (%) 17.0 18.9 12.6
GDP/Capita Total Population (SR Thousand) 55.4 57.8 69.3 61.4 71.7 88.5 93.4
Total Population (Million persons) 24.12 24.94 25.79 26.66 27.56 28.38 29.20
Saudis 17.27 17.69 18.12 18.54 18.97 19.41 19.84
Non-Saudis 6.85 7.25 7.67 8.12 8.59 8.97 9.36
Total Employment (Thousand persons) 7,523.0 7,766.3 7,956.8 8,148.0 8,834.9 9,935.5 10,390.3
Saudis 3,431.6 3,584.8 3,678.6 3,838.0 3,955.2 4,143.1 4,397.4
Non-Saudis 4,091.4 4,181.6 4,278.2 4,310.0 4,879.7 5,792.5 5,992.9
Government Budget Balance (SR billion) 280.4 176.6 580.9 -86.6 87.7 291.1 386.5
Revenues 673.7 642.8 1,101.0 509.8 741.6 1,117.8 1,239.5
Expenditures 393.3 466.3 520.1 596.4 653.9 826.7 853.0
Balance as % Share of GDP-Nominal 21.0 12.2 32.5 -5.3 4.4 11.6 14.2
Merchandise Exports (fob - SR billion) 791.3 874.4 1,175.5 721.1 941.8 1,367.8 1,485.2
Oil (Crude & refined products) 705.8 769.9 1,053.9 611.5 807.2 1,191.1 1,302.2
Others (Non-oil) 85.5 104.5 121.6 109.6 134.6 176.6 183.0
Merchandise Imports (CIF - SR billion) 261.4 338.1 431.8 358.3 400.7 493.4 480.0
Trade Balance (fob - SR billion) 552.0 564.9 795.1 394.6 576.4 917.9 969.1
As % Share of GDP-Nominal 41.3 39.2 44.5 24.1 29.2 36.6 35.5
Current Account Balance (SR billion) 371.0 350.0 496.2 78.6 250.3 594.5 645.1
As % Share of GDP-Nominal 27.8 24.3 27.8 4.8 12.7 23.7 23.7
Crude Oil Production (Million barrels/day) 9.2 8.8 9.2 8.2 8.2 9.3 9.8
Average Price-Arabian Light (US$/barrel) 59.01 84.35 95.00 59.47 78.96 95.18 106.48
Official Foreign Assets - Net (SR billion) 1,019.1 1,347.7 1,888.1 1,777.6 1,948.4 2,334.6 2,562.0
Saudi Arabian Monetary Agency 829.2 1,128.5 1,642.3 1,520.0 1,651.5 2,007.1 2,428.6
Govt. Institutions & Independent Organizations 189.9 219.2 245.8 257.5 296.9 327.5 133.4
Exchange Rate (SR/US$) 3.750 3.750 3.750 3.750 3.750 3.750 3.750
Money Supply M3 Growth (% change) 19.3 19.6 17.6 10.7 5.0 13.3 13.9
Cost of Living Index (1999=100) % change 2.2 4.1 9.9 5.1 5.3 5.0 **4.56
Saudi Share Price Index (1985 =1000)1/ 7,933.3 11,038.7 4,803.0 6,121.8 6,620.8 6,417.7 6,801.2
Source: MEP - Achievements of the Development Plans 29th Issue, Central Department of Statistics & Information;
SAMA - Annual Report # 48 and 4th Quarterly Statistical Bulletin 2012.
Notes : r revised, p preliminary; * based on by kind of economic activity; revised GDP data 2009-2011; 1/at year-end;
2/
CLI based on (2007 = 100) amounts to 2.9%.
Ministry of Economy and Planning Dated: March 3, 2013.
Saudi Economy 2012 1e.xls 3/6/13